News

The oldies are golden

Time 13 years ago

REFORMS in vehicle tax risk making heavily-polluting cars worthless, says an online finance provider.

Hikes in annual VED of up to £245 will hit families for whom a larger vehicle is a necessity hardest of all.

But it’s not all bad news for dealers. If you want to win in this market, get into selling cars registered before March 2001. Why? Because these models have no official CO2 information available…

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… and thus have fixed rates of annual road tax. The maximum rise here is just £15.

James McCarthy of onestopfinanceshop.co.uk said: ‘We have seen an increase in demand for smaller cars as petrol costs have rocketed.

‘But, more interestingly, we are seeing robust buying of older vehicles that avoid these hikes.

‘The government is forcing many hard working families into the red, as they can no longer afford to keep or run their larger family cars.’

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A poll powered by theanswerbank.co.uk for motorPLEX showed that 46% of users would consider selling their 2001-2006 cars in exchange for a pre-2001 model to escape the tax increases.

See: we always told you oldies were the goldies…

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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