The "what will/has the budget done to car values?" thread

The "what will/has the budget done to car values?" thread

Author
Discussion

mr_spock

Original Poster:

3,340 posts

214 months

Wednesday 22nd November 2017
quotequote all
Looks like a non-event then! Ah well.

MJ85

1,849 posts

173 months

Wednesday 22nd November 2017
quotequote all
DM article has been updated now, showing new vehicles only.

Calmchap

177 posts

112 months

Wednesday 22nd November 2017
quotequote all
So used car tax bands don't appear to be changing from next year then?

ZOLLAR

19,908 posts

172 months

Wednesday 22nd November 2017
quotequote all
TiminYorkshire said:
So what's the verdict is my VW t4 and Disco 2 worthless now? Has my petrol Mk1 MX5 sky rocketed?
I'm selling my D2 in the next few months so I did wonder if it would be affected however persons buying Older Land Rovers won't be overly put off due to the costs of running one in the first place.
However the new update on the dailymail appears to suggest it's only on new cars!

robbieduncan

1,980 posts

235 months

Wednesday 22nd November 2017
quotequote all
Calmchap said:
So used car tax bands don't appear to be changing from next year then?
Banding doesn't change. VED at each band increases by RPI

Ron99

1,985 posts

80 months

Wednesday 22nd November 2017
quotequote all
cuprabob said:
Sky News says the one band rise is on the first year VED for diesel cars registered after April 2018 that don't meet the latest emissions standard.

Bit of confusion as BBC implies it's for diesel cars in general and retrospective.
If all cars registered from April 2017 pay a 'one size fits all' £145 road tax, how can non-complying cars be moved up a band?

Or was the chancellor referring to the special rate applicable to expensive cars in their early years, or the first-year VED?

Pica-Pica

13,621 posts

83 months

Wednesday 22nd November 2017
quotequote all
Everyone, just read the given link to the Gov website and the budget statement. For now that is as clear as you will get.

As usual, the media have made a pig's ear of summarising the details.

AlexHat

1,327 posts

118 months

Wednesday 22nd November 2017
quotequote all
Ron99 said:
cuprabob said:
Sky News says the one band rise is on the first year VED for diesel cars registered after April 2018 that don't meet the latest emissions standard.

Bit of confusion as BBC implies it's for diesel cars in general and retrospective.
If all cars registered from April 2017 pay a 'one size fits all' £145 road tax, how can non-complying cars be moved up a band?

Or was the chancellor referring to the special rate applicable to expensive cars in their early years, or the first-year VED?
If its for NEW cars only the tax band relates to the first year VED, I don't know how many new cars still have diesels which are only Euro5 compliant though

Lil'RedGTO

667 posts

142 months

Wednesday 22nd November 2017
quotequote all
The budget changes re: diesel cars are not clear at all, but I think what the Chancellor is saying is that all new diesels first registered from 1 April 2018 will be charged a first year “showroom” rate one band above what they are now, with the exception of vehicles that already meet the RDE Step 2 standard.

I had to look it up, but the RDE standards are apparently as follows:

RDE step 1 is what has applied to any new (not existing) models since 1 September 2017, and requires cars to have real driving emissions (as measured by the new “real world” test) of no more than 2.1 times the specified NOx limit.

RDE Step 2 is the measure that applies from January 2020 for new car types and then from January 2021 for all types (i.e. even models already in production). It requires cars to have real driving emissions (as measured by the new test) of no more than the specified NOx limit (with allowance for a small error margin).

So, new Euro 6 compliant cars bought after April 2018 that do not meet the RDE Step 2 standard (of which I imagine there are many) will see an increase in the first year “showroom” tax rate.

The company car tax measures (rise in the existing Company Car Tax diesel supplement from 3% to 4%) may prove to be more significant but I don’t know the first thing about company car tax, so will leave that for someone else to explain.

Ron99

1,985 posts

80 months

Wednesday 22nd November 2017
quotequote all
AlexHat said:
Ron99 said:
cuprabob said:
Sky News says the one band rise is on the first year VED for diesel cars registered after April 2018 that don't meet the latest emissions standard.

Bit of confusion as BBC implies it's for diesel cars in general and retrospective.
If all cars registered from April 2017 pay a 'one size fits all' £145 road tax, how can non-complying cars be moved up a band?

Or was the chancellor referring to the special rate applicable to expensive cars in their early years, or the first-year VED?
If its for NEW cars only the tax band relates to the first year VED, I don't know how many new cars still have diesels which are only Euro5 compliant though
In that case, I think the higher band will be applied to Euro-6 compliant cars which fail the UK's new 'real world' test which is supposed to be tougher.

Muddle238

3,871 posts

112 months

Wednesday 22nd November 2017
quotequote all
I wonder how much of a shafting I should expect on my Euro5 diesel in June when I next tax it. Last year was £135, I'm guessing in a few years it'll be pushing £500+ as the government try and tax it to a scrapheap somewhere.

MG CHRIS

9,077 posts

166 months

Wednesday 22nd November 2017
quotequote all
Muddle238 said:
I wonder how much of a shafting I should expect on my Euro5 diesel in June when I next tax it. Last year was £135, I'm guessing in a few years it'll be pushing £500+ as the government try and tax it to a scrapheap somewhere.
Did you actually listen to the budget at all?

Butter Face

30,191 posts

159 months

Wednesday 22nd November 2017
quotequote all
J4CKO said:
Magic919 said:
Diesel hysteria will remain a constant.
Yeah, I was told by people who knew I had a car in the £530 tax band that did < 20 mpg not to get a diesel as they are going to get "Hammered" biggrin

Many reasons not to buy a diesel but a few pence on diesel and the possibility of a few quid on ved arent the main ones for me.

Amazes me how people with plenty of money fret over a few MPG and paying another £100 on ved, then spend 20 odd grand on a car that then loses ten grand over the next three or four years they own it ?
Exactly the conversations I have with people everyday!

I was not shocked that there was so much hysteria that diesels would be hit hard in the budget and amazingly, they weren’t.

Eyersey1234

2,895 posts

78 months

Wednesday 22nd November 2017
quotequote all
thelawnet1 said:
. Another £40 on a non-Euro 1 (let alone Euro 6) compliant Qashqai in the first year is just nothing.
All Qashqai are at least Euro 4 as it was launched in 2007

cuprabob

14,416 posts

213 months

Wednesday 22nd November 2017
quotequote all
Muddle238 said:
I wonder how much of a shafting I should expect on my Euro5 diesel in June when I next tax it. Last year was £135, I'm guessing in a few years it'll be pushing £500+ as the government try and tax it to a scrapheap somewhere.
It will be £140....

thelawnet1

1,539 posts

154 months

Wednesday 22nd November 2017
quotequote all
Eyersey1234 said:
All Qashqai are at least Euro 4 as it was launched in 2007
Only in theory. On the road, which is the point of this, not even close. Toxic.

https://www.which.co.uk/reviews/new-and-used-cars/...

carreauchompeur

17,830 posts

203 months

Thursday 23rd November 2017
quotequote all
Phew, I had a sudden panic that my V70 was going to go up to £520 a year. It's already £300 due to being auto.

KTF

9,788 posts

149 months

Thursday 23rd November 2017
quotequote all
Interesting opinion in Autocar about the new rule.

autocar said:
he short of it: new diesel cars that don’t meet a certain standard by April next year will go up a car tax band for the first year of ownership. What is that new standard? The name is Real Driving Emissions, stage 2, which is a test under real-world emissions. The thing is, while stage 1 is under way having been introduced this summer, stage 2 isn’t due until at least 2020.

Do any new cars on sale meet this RDE 2, then? Well that’s the thing. Even if they did, we wouldn’t know because certification for RDE 2 is not possible until 2020. Crazy, right? Chancellor Philip Hammond has announced a literally impossible task. So, this new tax will apply to every single new diesel car.
Source: https://www.autocar.co.uk/opinion/industry/opinion...