Do You Know About the VED Changes in April 2020?
The government is set to introduce new rates of vehicle excise duty (VED) – more commonly known as car or road tax – in April 2020.
From April – most car owners will face an increase – especially ones who own cars with bigger engines. The table attached outlines the expected increases.
However, for motorists that lease their vehicles, if they renew their leasing deals before 31st March 2020, they will only be hit with an increase in line with inflation, meaning they will pay approximately £5 to £15 more for their tax rather than the huge increases detailed in the table above.
For example – some vehicles could see costs increase as much as £700 after the 1st April, but if you take a two-year deal on or before 31st March, these costs could be as little as £24.
As a result, we’re expecting to see a significant increase in sales and customers taking delivery of their lease cars between now and the end of March. With this expected increase in demand, there is a possibility that stock may run out due to limited availability across the country which is as a result of the uncertainty of Brexit at the end of 2019.
If you are wanting to take advantage of this and keep your motoring costs down then please get in touch via the website and make sure you keep checking it for further updates on the VED changes
-ENDS-