I bought a 1997 Mercury Grand Marquis. It has over 200,000 miles and there is some rust on the body, so I only paid $1000 for it. I bought it from an individual who signed me a power of attorney so that I could transfer ownership to the SAAQ. On the other hand, at the SAAQ, I am asked for an evaluation since it is an old car. However, it is not a collector’s car, but a simple “minoune”. What to do?
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Hello Raynald,
To collect the taxes from a vehicle less than ten years old, the SAAQ takes into account the value stated by the Black Book. In the case of a vehicle over ten years old, but less than 25 years old, the taxes are collected on the declared sale price.
For a vehicle that is 25 years old or older, as is the case with your Grand Marquis, the SAAQ does require an appraisal since the government agency is not aware of the value of old cars. The process is the same for your $1,000 Grand Marquis as it is for a Ferrari that would be worth a few million. This evaluation service is offered by several companies, including PG Evaluation, which is present throughout the province, for more or less a hundred dollars.
You should know that the era of transactions with symbolic amounts is over and that Revenu Québec will allow itself to check in case of doubt.
Once you have this evaluation in hand, return to the SAAQ with the power of attorney. Make sure it is still valid. You will then be able to register your car in your name.
Good road!