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Vehicle Tax Changes from April 1st
Road Tax is changing from April 1st 2017
Purchase your new vehicle before the end of March to avoid the extra cost!
If you're planning on buying a brand new car, now might be the right time. As of 1st April 2017, changes to VED (Vehicle Excise Duty) otherwise known as road tax, will affect the running costs of brand-new cars.
What are the changes?
In 2015, the Government announced that the way in which they charge road tax would change from 1st April 2017. Currently road tax is based on the CO2 emissions of the vehicle, i.e. the higher the CO2 emissions of the vehicle the more road tax is due. There is one rate for the first year (First Licence Rate) and another for the second and subsequent years (Standard Rate).
The Standard Rate, like the First Licence Rate also increases with CO2 emissions. From April 2017, the first year rate will continue to be related to the CO2 emissions of the vehicle, however the bands will change and rates due will increase. In the second and subsequent years, the 'Standard' rate of road tax will no longer be related to CO2 but will be related to the list price of the vehicle.
For vehicles with 'List Price' of £40,000.00 or less, the rate will be £140. For vehicles with 'List Price' over £40,000.00, an 'additional rate' of £310 (a total of £450) will be due for 5 years from end of the first year. After the additional rate expires the £450 will revert to £140, or whatever the prevailing rate is at the time.
Will this affect my existing car?
No. If you buy a car before 1 April 2017, you won't be affected by these changes, because they only apply to cars registered on or after that date. Your tax will continue to be calculated using the old system of CO2 emissions, meaning that in the vast majority of cases you will be better off. In addition, the VED reform will not apply to other vehicle types, e.g. Commercial Vehicles, Motorbikes, HGVs.
Buying a new car today
If you're planning purchasing a brand-new car in 2017, now is the time. Get in touch below to find out about our brand-new car deals today.
Did you know that we have the All-New Kia Rio available?
Pop in and see it in person at our Paignton dealership. We'd love to show you around the car!
The exciting All-New Kia Rio range comprises of four stylish models -the '1', '2', '3' and the range-topping 'First Edition' all boast a superb standard specification whichever one you choose.
The All-New Rio has a spacious cabin offering all the versatility you could need, the latest safety features including Automonous Emergency Braking and Kia Connected Services featuring TomTom™ Including Andriod Auto and Apple Car Play™ - which take reliable route guidance to the next level of accuracy.
To top it off, you're sure to enjoy the All-New Rio's dynamic handling, low running costs and our pioneering 7-year warranty. And with 4.9% APR representative and £750 toward your deposit currently available, it's time for a closer look at the All-New Rio range.
Click here to see the All-New 2017 Kia Rio.
Call Speedwell Kia on: 01803 554484
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From Monday 4th July, our Exeter branch is undergoing an exciting new refurbishment, we will soon be unveiling the all-new Kia global store concept. Don’t worry, we are still open for business and all departments are operating normally during this time. This work is expected to be complete within 8 to 10 weeks.