Have you heard about the changes to car tax?
Currently the car tax scheme is based on the CO2 emissions of the car you buy. Anything that emits an average of 99g of CO2 for every kilometre that it drives is exempt from car tax. From the 1st April, this exemption will be drastically reduced to vehicles that produce no CO2 emissions.
The first year that it’s on the road the tax is still calculated using the CO2 emissions. After that car drivers will have to pay £140 tax each year.
There will also be the introduction of a wealth tax. Any car with an official selling price (That’s the RRP, not the price you pay) will be hit.
What does this mean for you?
It means that if you buy a Hyundai i10 1.0 SE 5dr on 31st March 2017 you will pay £40 tax for the next 3 years, if you buy the same car on 1st April 2017 it will cost you £420 for the same 3 year period.
With these new tax charges coming in combined with the uncertainty around the value of the £ and price increases the manufacturers will have to make to combat this, there has literally never been a better time to buy your new car.