Every buyer has to think about future-proofing themselves when buying a car or van - thinking about their needs and finances during the ownership period. Drivers in London in particular are being forced to look at their forms of transport and contemplate additional daily charges. These forthcoming charges will no doubt have an impact on used car values as well as profitability for those using vehicles for day to day business.
There are two planned charges for diesel cars in London, with the first due to take effect 23rd October, 2017. This initial scheme, known as the Emissions Surcharge or ‘T-Charge’ will target all cars with an engine that fails to meet older emissions standards known as Euro 4, whether they are petrol or diesel. These are generally cars that are more than a decade old, registered in in 2005 or before.
Owners of affected cars will have to pay £10 a day to drive in central London, in addition to the £11.50 Congestion Charge, making a total daily fee of £21.50. The charging zone will be the same as the current Congestion Zone area and charges will apply during the same hours: between 7am and 6pm, Monday to Friday. Historic cars that are 40 years’-old or more, will not have to pay. Anyone living in the zone will get a 90% discount, so will only have to pay £1 a day.
If you’re vehicle meets the following standards, you will not be required to pay the T-Charge at present.
•Euro 3 for quadricycles or motorised tricycles (motorcycles are not subject to the T-Charge)
•Euro 4 for cars, vans and minibuses
•Euro IV for HGVs, buses and coaches
Minimise your risk
Every new car sold since September 2015 has had to comply with Euro 6 standards. Although there is an ongoing debate about exactly how clean these cars are, they are unlikely to face Clean Air Zone or parking surcharges (but would be affected by a fuel duty increase which could be imposed).
Choose Reduced Risk Finance
A business or personal contract hire agreement puts the burden of residual valuation on the leasing company. The vehicle is simply collected at the end of the agreed lease duration and the only other charges you could face would be for excess mileage over the agreed contract, or damage to the vehicle which falls outside the recommendations of the BVRLA Fair Wear & Tear Guide.
Personal Contract Purchase (PCP) also gives the purchaser the right to hand the vehicle back to the finance company at the end of the agreement, but also gives the option to purchase if deemed a worthwhile proposition. Again, excess mileage or damage could incur further charges as above.
Trade-In and Lease a new low emission vehicle
With just a few basic details on your vehicle, we will agree a price, collect it from your door and transfer funds direct into your bank account on the same day, replacing with a new cost efficient vehicle.
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Countrywide Vehicle Contracts Ltd
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