Accountants often require documented valuation evidence for the purposes of assigning a book value to a vehicle.
Situations where a valuation report may be required include:
- when there is a change in use of a vehicle (e.g. a personal vehicle is going to be used for business purposes)
- when a business that owns vehicles is being sold
- when a vehicle's depreciated book value does not reflect its actual market value
If you need a valuation report, contact us!