Ignition Credit

Business & Personal Asset Finance in Cornwall

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Call Us: 01872 272900 or 0330 010 4282
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Get Your Skates On to Avoid Car Tax Hikes!

13th March 2017 By Lisa Sutherland

What will April’s car tax changes mean for customers buying new cars?

From April this year, a revision of vehicle tax bands will come into force, which will affect the amount of Vehicle Excise Duty (VED) payable on all new cars.

For anyone considering buying a new car in the near future, it’s worth exploring whether the changes are likely to work in your favour, or whether it would be more advantageous to buy before the 1st April.

With the new system, all new cars will see a substantial increase in tax during the first year of registration, followed by a flat rate of £140 per year.  For alternatively-fuelled cars such as hybrids, the amount is reduced by £10 in the first year and will be £130 for subsequent years.

Comparing the tax you’re likely to pay before and after April, depends largely on the type of vehicle you’re planning to buy and its CO2 emissions.   As a general rule, smaller more economical cars will see the biggest increase in tax.   A five-year £310 supplement is also to be introduced for cars costing more than £40,000, which will have an impact on purchases at the higher end of the scale.

If you’re considering purchasing a new vehicle, whether for business or personal use, do get in touch soon to discuss your requirements, so that we can recommend the best time to buy.  You may need to get your skates on!

Filed Under: News

Can we help?

If you require assistance or further information call one of our expert advisers on 01872 272900 or 0330 010 4282.

You can also request a quote online, or use our simple vehicle finance calculator.

Finance Products & Services

  • Asset Refinance
  • Finance Lease
  • Hire Agreement
  • Structured Payments
  • PCP (Personal Contract Purchase)
  • Hire/Lease Purchase
  • Contract Hire
  • Operating Lease
  • VAT Deferrals
  • Corporation Tax Loans
  • Invoice Finance
  • Commercial Loans
  • Loan and Chattel Mortgage

Our Products & Services

  • Asset Refinance
  • Finance Lease
  • Hire Agreement
  • Structured Payments
  • PCP (Personal Contract Purchase)
  • Hire/Lease Purchase
  • Contract Hire
  • Operating Lease
  • VAT Deferrals
  • Corporation Tax Loans
  • Invoice Finance
  • Commercial Loans
  • Loan and Chattel Mortgage

Get a Quote Today

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What We Finance

  • Car Finance
  • Prestige Car Finance
  • Classic Car Finance
  • Motorsport Finance
  • Vans & LCV Finance
  • Haulage & HGV Finance
  • Bus & Coach Finance
  • Horsebox & Trailer Finance
  • Agricultural Asset Finance
  • Renewable Energy Finance
  • Construction Finance
  • Engineering Finance
  • Technology Asset Finance
  • Refurbishment & Fit-Out Finance
  • Catering Finance

About Ignition Credit

Registered Office
Sterling House,
Green Court,
Truro Business Park,
Threemilestone,
Cornwall,
TR4 9LF

Phone
01872 272900
0330 010 4282

Office Hours
Monday—Friday: 9:00AM–5:15PM

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Copyright © 2022 Ignition Credit. All Rights Reserved
E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018
IGNITION CREDIT PLC IS AN AUTHORISED CREDIT BROKER AND LENDER I Registered Office: Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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