CO2 and Road Tax Bands / Devaluation

p4t

Hi All

I am considering purchasing a used car first registered in october 2006 but its tax band is J (£260) which is already near the bottom of the list.

I am worried that if i buy it now and keep it for say 4 years by the time i come to sell it the tax bands may have changed and it could end up being liable for a lot more tax (such as the £475 bands that exist now) which would greatly devalue the sale price.

Does anyone think this is a significant risk?

Cheers

Ultrasonic

I have no particular insight into this at all, but for the little its worth I'd have thought it pretty unlikely that the road tax for any car would almost double in 4 years.

MX5huggy

No it not a big risk, Petrol might of doubled in four years making your car worth less but tax won't.

gilbert_and_sullivan

Much as i wouldn't believe 99.9% of politicians if they told me their name, the recently deceased M Thatcher being an honourable exception, i don't think they will raise VED so much as that, yet.

They might yet close the loophole for highest band cars regd between 2001 and 2006 which currently enjoy not paying the full £470 odd though.

At the end of the day the country is tottering on a fiscal knife edge, if interest rates rise and we are nable to fulfil our massive and increasing yearly national debt then all bets are off and nothing is safe....as those who have, or rather had, money in Cypriot banks recently found out.

plane_boy2000

In 4 years time it will be an 11 year old car. I don't know what it is but at that age its value will be limited anyway, and people will be reluctant to buy a car in what will be 300+ band by then even just with the annual increases.

TBH I wouldn't worry to much as I cant see it devaluing it much more than it will have anyway

GJ_WRX

I wouldn't worry about it. No doubt tax will rise but it will be going up with every other vehicle in the same bracket. Plus as Plane-Boy mentions it will be 11 years old by then so will be in the later stages of its life.

I've been looking at getting a Mazda RX-8 as seem to tick all the boxes for me, however they are £475 a year to tax which makes it a no go.

p4t

Great thanks very much for all the responses!

For info its a BMW 320 SE 34,000 miles (£8700)

forgotmyname

How much ??? :::faints:::

7 year old cars done 34,000 miles. RUN AWAY.....

Its not worth more than one thats done 80,000 - 100,000.

Dont pay a premium for it, Just isnt worth it.

Seems to be overpriced by £2000 ??? Why is it that expensive?