Steps to buying a used vehicle
Buying a used car makes sense financially, because someone else has already paid for most of its drastic depreciation in value. With thousands of cars available, you’re sure to find one that suits your needs and fits your budget. However, it can also be intimidating, with inflated prices, hidden damage, mechanical problems, liens, impulse buys-we’ve all heard the horror stories. But buying a used car doesn’t have to be that way. By following our recommended steps, you can get an excellent vehicle for a decent price.
Vehicle history reports
A vehicle history report can tell you a lot about a car you’re thinking of buying, such as whether it has been damaged or stolen.
Inspecting a used vehicle
Spot signs of trouble by following our inspection checklist. If you’re serious about the vehicle, we strongly recommend having it inspected by a professional mechanic.
Buying from a licensed dealer
When you buy from a licensed dealer and salesperson, you obtain certain protections. Learn more about car dealers’ responsibilities and get tips on how to recognize an unlicensed dealer posing as a private seller: Vehicle Sales Authority of British Columbia.
Completing the sale and transferring ownership
After arranging payment of the vehicle, you and the seller must fill out a Transfer/Tax Form (APV9T). Then you take this form, plus the seller’s vehicle registration, to any Autoplan broker. At the broker’s, you complete the transfer of ownership.
Once the vehicle is registered in your name, you can get licence plates and insurance for it.
PST on vehicles
If you are buying or importing a vehicle or giving or receiving a gift vehicle there may be provincial sales tax applicable and exemptions may apply. Find out more here
If you have more questions, we’d be happy to discuss them with you! Pop by Underwriters Insurance office at 414 Ellis Street in Penticton or 1222 5th Ave in Valemount.
Source: ICBC
