A Return to Used Cars?
New Tax Laws Drive Buyers Away From New Car Purchases.
A survey released by confused.com has revealed that forty percent of drivers have been put off of purchasing a car with a 2017 registration plate, due to the introduction of new tax laws.
Indeed, more than fifty seven per cent of those taking the survey said that they would instead look towards buying a used car in order to avoid the new charges.
There has been a lot of speculation concerning the cause of the tax changes. Whilst many feel outraged and claim that charges are just a money-grabbing method, others have instead suggested that taxation rates are being changed in order to promote electronic vehicles.
The motoring editor at Confused, Amanda Stretton has given her opinion on the matter, stating that: “It’s fair to say that drivers are disillusioned with the new rules.
Stretton continued to state that “Over half (55%) think that the tax changes are in place just to make the government money”, and that “more than half (57%) think the rules are just imposing yet another unnecessary cost for drivers.”
Perhaps it would be fair to assume that the disillusionment that Amanda is referring to is due to the perceived lack of publicity surrounding tax changes, as the same survey highlights that eight in ten drivers think that there has been a lack of awareness for the upcoming laws.
Even more surprisingly, the survey also found that nine out of ten drivers do not even understand the new VED laws.
Stretton added that:
“The new car tax rules are just a series of recent cost hikes to burn a hole in the pockets of Britain’s motorists”
“In recent months, petrol prices have soared to 120.11 pence per litre and the average car insurance premium has reached £737…Not to mention the impending insurance premium tax threatening to rise prices even higher from June.”