Budget will not hit used 4x4 pricesConcerns that Gordon Brown's budget would cause a dip in the value of nearly new and used 4x4s are misplaced, according to a report in Auto Industry.
Concerns that Gordon Brown's budget would cause a dip in the value of nearly new and used 4x4s are misplaced, according to a report in Auto Industry.
Used car experts CAP stress that an increase in vehicle excise duty will have little effect on how well these fantastic vehicles retain their value, mainly because it is not yet high enough to add much to the running costs of a 4x4.
Choice in this sector has grown substantially in recent years, with over 700 different types of 4x4 available, almost three times as many as a decade ago.
"Although this budget is likely to provoke speculation about 4x4 values meltdown, an increase to £300 in the road fund licence, rising to £400 next year, is a small sum for those who are prepared to pay a retail price of, for example, around £26,500 for a three year old BMW X5," CAP forecast manager Jeff Knight told Auto Industry.
"The rest of the target market for large off-roaders are highly unlikely to force prices down by steering clear of higher road fund licence costs unless it is increased by a much higher proportion than Gordon Brown has announced," he added.
Buying big is made more affordable both by picking a vehicle that's a few years old, but also by taking out a competitive car loan to cut your car finance costs.
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