Ministry of transport requires that all vehicles over 20 years old require an appraisal on them by an independent appraiser before they can be transferred into your name.
The department of transport does not have a value in their data system that they can assign to your vehicle due to the age of it.
We will come out to your vehicle and inspect it and take into consideration the mileage, rust, damage, mechanical issues and other issues that will and can reduce the value of your vehicle.
The sales tax is then paid on either the appraised value that we have established, or the amount that your receipt says, whichever is greater.
This appraisal is to assess the value of the vehicle in order for the buyer to pay the required amount of sales tax owed to the Ministry of Revenue.
The whole process takes about 10 minutes, and you will receive the appraisal document at that time in order for you to submit it with your other documents to the MTO.
Keep in mind that a vehicle that is over 20 years old usually has many issues that will decrease or diminish the value substantially.