A vehicle's market value is the amount a vehicle is worth in the open market. It includes GST, unless you're exempt from paying it.

To find the market value of a used vehicle, you can:

  • ask a motor dealer
  • ask an insurance company
  • search online for the make, model and year of the vehicle
  • search online for a vehicle market value calculator.

The market value is used to determine:

  • the amount a vehicle may be insured for
  • a vehicle's worth should it be written-off or stolen and not recovered
  • stamp duty costs when transferring a vehicle registration. 

If you’re transferring the registration, or submitting a notice of disposal for a used vehicle, you'll need to provide the vehicle's current market value or agreed purchase price, whichever is highest. 

A vehicle's purchase price, also known as sale price, is the amount the buyer and seller of the vehicle have agreed to on the day of sale. This amount can sometimes be lower than the current market value.

If you win, inherit or receive a new or used vehicle as a gift, you need to find and provide the current market value of the vehicle so that stamp duty can be correctly calculated.

Note: There are penalties for knowingly providing an incorrect market value when transferring the registration or submitting a notice of disposal for a used vehicle. 

Last updated: 15 January 2024

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