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UVIP values for s2000?

 
Old 02-12-2016, 11:19 PM
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Originally Posted by s2jizzer View Post
Originally Posted by shamusodoofus' timestamp='1455036486' post='23875720
To make things clear, the law states when you purchase a vehicle privately you must pay tax on either the wholesale amount (UVIP value) or the amount written on the bill of sale (last page of the UVIP), the greater of the two. You can definitely get by paying less than wholesale value by declaring a lesser value on the bill of sale but this depends entirely on the employee working at the desk. If you get an overzealous employee they will do things by the book and charge you the greater of the two. If you're lucky, they will overlook it and do what works best for you.

If you want a guarantee that you will pay less than wholesale amount you can get your car appraised and inform the appraiser of your intention. 99% of appraisers will work with you, just don't expect them to give you a $0 appraisal. This being said, I have personally dealt with several MTO employees that insisted appraisals meant nothing. Even going as far as speaking to their supervisor. If the MTO employee does not want to cut you some slack, they simply won't. It's frustrating but my advice for you at that point is to go to a different office or pay the extra amount.

Hope this clarifies things.
Honestly, I hate paying anyone money but to get the car appraised at a lower price to save a few bucks on tax is NOT a good idea whatsoever. My buddy has been in 2 accidents in the last year and both cars have been written off, none of which where he was at fault. If he appraised his car low, guess what the insurance payout will be. It's the same with insurance and getting just liability to save money, in the end of the situation doesn't work in your favour you're [email protected]#ked.
The insurance payout has nothing to do with the appraisal we are talking about here. In order to pay less taxes a person with a friend etc in the automotive business can get a quick 10 minute "appraisal" where they write up that the car has issues, ripped seats, broken soft-top, broken transmission. The car is then "appraised" for a much lower value, allowing you to take that form to the ministry along with a bill of sale and pay taxes on that amount
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