POLL: Will you give up driving and ditch your car due to rising Vehicle Excise Duty fees?

Petrol and diesel owners will be forced to pay higher car tax charges next week as major new changes come into effect in April.

Vehicle Excise Duty (VED) charges will rise in line with Retail Price Index (RPI) inflation from April 1, 2024.

The move means prices will increase across the board with owners of the most polluting models most affected.

Motorists who have purchased brand new cars emitting over 255g/km of CO2 will face the highest increase with fees set to rise by £140.

The latest rise comes amid a recent surge in the price of motoring with fees up in almost every department.

Car insurance prices are thought to be at record-breaking levels with the average UK premium now standing at a whooping £995 per year.

Car MOT and service costs have also risen while petrol and diesel pump prices are also up since the start of the year.

The rapid rise in charges has left motorists questioning whether to remain on the roads with many considering ditching their models altogether.

Recent data from Confused.com shows almost one in five (18 percent) drivers have thought about selling their car over the past 12 months.

A staggering 32 percent said they were getting rid of their car because they needed something cheaper to run.

Another 24 percent said repairing their car was costing more than what it was worth with almost one in five wishing to spend their money on other outgoings.

Express.co.uk is now asking motorists to have their say on whether the extra charges would have any impact on a decision to keep hold of their cars or sell them.

Paul Daly, director of temporary insurance provider InsureDaily.com, has also highlighted the possible consequences of price rises.

He suggested the latest increases could be the point some road users consider whether it was still worth owning a model at all. 

Paul previously told Express.co.uk: “For some vehicle owners, it could be time to reconsider the value of owning your own car compared to the costs of running the vehicle.

“There are alternative options, including temporary insurance cover for drivers borrowing a car.”

Source link

Leave a Reply

Back To Top