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FIN 320

FIN 320 vehicle appraisals in BC

FIN 320 is the BC government’s Motor Vehicle Appraisal form. On a private sale, a completed FIN 320 can support a lower taxable comparison when both your purchase price and the appraised value are below Canadian Black Book’s Average Wholesale Value. The applicable purchase-price floor still controls the taxable amount. Underbook completes it online, as part of a signed appraisal — after review, and only if it’s worth doing.

What FIN 320 is

The Motor Vehicle Appraisal form (FIN 320) records an appraised value — the expected retail value if the vehicle were sold privately, not its trade-in value.

It is used in one of two places: at registration, through your Autoplan broker, or with a refund application (FIN 355/MV) after you’ve registered and paid PST.

Quick answers

Who completes it?
Underbook completes the FIN 320 as part of preparing your signed appraisal. You take it to your broker, or send it with your refund application.
What does it cost?
The standard fee ceiling is $80, GST included; the eligible returning-customer ceiling is $71, GST included. Below $60 supported benefit, no paid appraisal is offered. From $60 through $159.99, the fee is 50% of supported benefit, subject to the lower applicable ceiling. The lower amount controls. Payment is requested only after review supports proceeding.
How long does review take?
Most reviews are completed within 30 minutes during review hours. Review hours: 7:00 a.m.–7:00 p.m. Pacific, 7 days a week.

Essential facts

  • FIN 320 is a government form, not the whole appraisal package.
  • It records the expected private-sale retail value, not trade-in value.
  • Used at registration, or with FIN 355/MV for a refund.
  • Refund path: both forms must be received within 30 days of registration.
  • Underbook completes it online. No acceptance or refund is guaranteed.

When the FIN 320 path applies

It is worth looking at when all of these are true:

  • You bought the vehicle at a private sale in BC.
  • Canadian Black Book lists an Average Wholesale Value for it.
  • You paid less than that average.
  • The vehicle’s real condition supports a value below the average — high mileage, damage, wear or mechanical problems, for example.

If you paid the average or more, PST is generally based on your price already, and a FIN 320 won’t lower it. The comparison itself is explained in Purchase price and Average Wholesale Value.

What you’ll need

  • The VIN and the price you paid.
  • Clear photos of the vehicle, including any damage or wear.
  • What you know about its condition, mileage and history.
  • If you’ve already registered: your validated ICBC Transfer/Tax Form (APV9T) and your registration date.

No account is needed to start.

How Underbook completes it online

  1. Start with your VIN and purchase priceUnderbook checks whether the Average Wholesale Value comparison applies to your vehicle.
  2. Provide the details and photosCondition, mileage, history, clear photos and any supporting documents.
  3. Underbook reviews your submissionUnderbook reviews before requesting payment. If an appraisal wouldn’t help, you’re told plainly, at no charge.
  4. Pay only if it’s worthwhilePayment is requested only after review supports proceeding.
  5. Receive your signed appraisal and completed FIN 320Ready for your Autoplan broker, or for your refund application if you’ve already registered.

The full sequence is in How the Underbook review works. Before registration, the documents go to your Autoplan broker — see Appraisal before registration.

Worthwhile first

A FIN 320 only has value if it lowers your PST by more than it costs. Underbook reviews every submission before asking for payment, and if the numbers don’t work, you’re told so and nothing is charged. The standard fee ceiling is $80, GST included; the eligible returning-customer ceiling is $71, GST included. Below $60 supported benefit, no paid appraisal is offered. From $60 through $159.99, the fee is 50% of supported benefit, subject to the lower applicable ceiling. The lower amount controls. The full fee rule is in Pricing and when payment is requested, and how to judge it for yourself is in Is a FIN 320 appraisal worth it?.

Already registered and paid?

After qualifying payment and completion, the signed appraisal and FIN 320 are supplied as PDFs with private access. Qualifying refund-path customers also receive the applicable refund-support materials, including a FIN 355/MV application draft for their review, signature and filing. Underbook does not file the application for you.

The 30-day receipt deadline

A FIN 320 can still support a refund, sent with the FIN 355/MV refund application. The Ministry of Finance must receive both, complete, within 30 days of your registration date, by mail or courier. You sign and send the application; the Ministry decides the refund.

See Vehicle PST refund after purchase and The appraisal-based refund deadline.

Who does what

Underbook reviews your vehicle and completes the appraisal and FIN 320. Your Autoplan broker processes the registration but does not perform the appraisal or decide the tax. The Ministry of Finance decides any refund. Details are in FIN 320 and your Autoplan broker.

Using FIN 320 is not an endorsement of Underbook by ICBC, the Ministry or any government body, and no broker or Ministry acceptance is guaranteed.

Ready to check your vehicle?

Start with your VIN. No account required.

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