Wednesday, April 23, 2008
VED bands will impact on residual values
Car dealers have been urged to take account of C02 ratings when sourcing used cars, or risk taking on hard-to-shift stock.
According to Cap Black Book’s operational development manager Mark Norman, the new VED bandings will seriously dent some used car values.
“The risk will increase dramatically when the new VED rates are introduced in 2009,” he said.
“It is therefore important to begin routinely including tax bands in the trade valuation process today to become fully prepared for new market conditions for older cars next year,” said Norman. Cap’s Black Book now includes VED rates and CO2 outputs for the first time.
Y-plate cars registered after 2001 will be included as part of the revised taxation rules which will see massive rises in the annual VED of some vehicles.
DATED: 23.04.08
FEED: MT
According to Cap Black Book’s operational development manager Mark Norman, the new VED bandings will seriously dent some used car values.
“The risk will increase dramatically when the new VED rates are introduced in 2009,” he said.
“It is therefore important to begin routinely including tax bands in the trade valuation process today to become fully prepared for new market conditions for older cars next year,” said Norman. Cap’s Black Book now includes VED rates and CO2 outputs for the first time.
Y-plate cars registered after 2001 will be included as part of the revised taxation rules which will see massive rises in the annual VED of some vehicles.
DATED: 23.04.08
FEED: MT
