Donaldtramp Posted March 17, 2008 Report Share Posted March 17, 2008 How do you guys feel the latest hike in road tax is going to affect performance cars? I can't see the second hand values holding up with these increases coming. Times article and a good table for to calculate your new tax... BBC website road tax table I drive an M3, in the highest tax bracket, and very shortly I'll be paying £455 a year just to buy a tax disc!! I think this is just the start of it. Oil prices keep on rocking to new highs and to the chancellor we're an easy target. Another fuel duty rise is due in 6 months. It's going to get much, much worse!! Just thought I'd see if anyone had any thoughts/opinions. Cheers DT Link to comment Share on other sites More sharing options...
AvantSE Posted March 17, 2008 Report Share Posted March 17, 2008 Agree. Not looking forward to driving a 800cc litre shopping trolley or some such shite but it'll take me a while to have to sink to that level. Like most people, we'll just keep on paying more and more... Link to comment Share on other sites More sharing options...
shao_khan Posted March 17, 2008 Report Share Posted March 17, 2008 Please see my new car club post. They are out to screw us over royally Link to comment Share on other sites More sharing options...
RedRobin Posted March 17, 2008 Report Share Posted March 17, 2008 ....You have a simple choice imo - Pay up and forget it and then enjoy your car as an enthusiast and for all the reasons you bought it, OR, change to a 'lesser' car and feel bitter about it. Surely you'll feel more shafted by govn'ment as you drive around in something like a Pious rather than your M3. These low performance cars are less safe too. Think Positive. Link to comment Share on other sites More sharing options...
Soulboy Posted March 17, 2008 Report Share Posted March 17, 2008 On the plus side, the manufacturers aren't stupid. They will make something desireable which still meets the low emission criteria. I reckon people will probably have a boring car for day to day use and those able to afford it a small, light, nippy (but stylish) cheapish car for weekends. Something funky but cheap like the new Alfa Mi.to in looks, but with engines both economical yet zippy. Then throw in a load of features which would make it fun to drive. A fiat 500 Abarth seems to be the sort of thing I'm talking about. Just my thoughts before you all shoot me down in flames. Link to comment Share on other sites More sharing options...
Calm Chris Posted March 17, 2008 Report Share Posted March 17, 2008 I'm sorry, but although the costs have increased I can't see the extra money being much of an issue to an owner of a performance set of wheels. Take an M3- £1000 a year insurance 20 mpg £500 service cost 15% depreciation per year £800 tyres per year Any increase between existing and new tax bands of £200 odd isn't going to break the bank of such an owner driver. As for the 1 off tax on purchase £1000 odd, well that's about 1/2 a car leather option, 1/2 sat nav option or 2 blue-tooth options. Again in the scheme of things a £1000 isn't going to stop people buying a £40k++ new car. Annoying yes, but it won't prevent people buying them. No more that say the stamp duty for 500k+ prevents people buying houses over £500k Link to comment Share on other sites More sharing options...
gizze Posted March 17, 2008 Report Share Posted March 17, 2008 I think the big killer these days is the BIK tax on these cars, I know if I had taken the 335i as a company car, it would have cost £600 a month in tax alone, the repayments were less than that!! That is what will kill off these big cars, people don't mind spending £1000 a month on a car, but having to pay the government is something else that everyone begrudges. Link to comment Share on other sites More sharing options...
Soulboy Posted March 17, 2008 Report Share Posted March 17, 2008 Depreciation will be a killer too. Although £400+ tax will not deter the buyer of a £30k new car, it will certainly be an issue for someone buying a second hand R32/Subaru etc who can only just afford a £12k purchase price. This will impact on residuals from new - especially with the increased showroom tax. I see it being similar to the depreciation on 7 series etc. It will just put people off. Link to comment Share on other sites More sharing options...
Donaldtramp Posted March 17, 2008 Author Report Share Posted March 17, 2008 I'm certainly not going to sell the M3 but I really do think this is the thin end of the wedge. I have been speaking to a lot of guys about it today and it has already changed attitudes. I forwarded the link about the tax table and it provoked a lot of discussion. With all this credit crunch going on and a lot of folk struggling to meet mortgages, pay utility bills etc etc. People will choose NOT to buy sports cars. The best way to get people to change their ways is to hit them in the pocket. This will definitely make a difference, guys were already checking what their car is going to cost them. God help the folk who have a large 4x4 and try to get money back at trade in over the next 2 or 3 years. As for the Pious! I've always hated them and believed it to be a huge marketing con. It has been proved (yet again) in an article in The Times comparing the Pious to a 520d BMW on a drive to Europe. The Pious with no air con on was trounced by the big BMW(air con all the way) on MPG, comfort, speed (and also the fact you didn't look like a twat) Worth a read: BMW 520d vs Prius in The Times with a vid clip. Link to comment Share on other sites More sharing options...
Cuprabob Posted March 17, 2008 Report Share Posted March 17, 2008 It could mean that this year is the best time to buy a new performance car before the 1st year higher tax cuts in. After it settles down i don't think it will have much impact on the 2nd hand market, your only talking about £200 a year over a "normal" car Link to comment Share on other sites More sharing options...
Mook Posted March 17, 2008 Report Share Posted March 17, 2008 But all of this has been coming - surely no-one can say "oh, they've just thumped us for it". They started talking about hikes to £300 a year, then £400 a year from this March. Sales of stupidly quick, big engined and thirsty cars has gone through the roof of late - M3, M5, RS4, upcoming RS6, Ferraris, Lambos etc. I just don't think that adding £200 a year onto car tax can make any difference at all - with petrol at over £5 a gallon, if your car does less than 30 mpg, you're paying a lot just to run it. I find it a bit weird that people are talking about selling their cars this year, just because of the increase in tax. So you've got the depreciation to absorb, plus the costs of a new car and everything that goes with it. Just keep it and enjoy it while you can. I think social pressure will end up having more effect than the govt taxing people. Link to comment Share on other sites More sharing options...
Donaldtramp Posted March 17, 2008 Author Report Share Posted March 17, 2008 I agree £200, will (nearly) buy 1 tyre for my car. There's the showroom tax as well on top. But the big tax screw will keep turning, and social pressure is giving the chancellor the "moral" right to apply more and more tax. Link to comment Share on other sites More sharing options...
Woppum Posted March 17, 2008 Report Share Posted March 17, 2008 I dont like it but im not bothered. This is nothing compared to the 6500k they want to charge in London. My current thinking is to turn the csl in to a full on track car and get a banger to run around in. However seeing that evo 6 on 5th gear looked very nice. Old enough to pass for local rates too! Link to comment Share on other sites More sharing options...
Mook Posted March 17, 2008 Report Share Posted March 17, 2008 M3 CSL as a full-time track toy is a feckin good idea. The Evo 6 won't be quick enough for you Wopps - you'd only end up wanting more power. Link to comment Share on other sites More sharing options...
Woppum Posted March 17, 2008 Report Share Posted March 17, 2008 I like the Loaded CSL or CSL-GTR idea, but dont plan to do that for at least a couple of years. Id like a 335i for the road really, but at the current rates its still gonna cost a packet!! At the moment i am paying 80p congestion charge a day. If it does go up, I will have to reconsider my options! Link to comment Share on other sites More sharing options...
Mook Posted March 17, 2008 Report Share Posted March 17, 2008 Vote for Boris and see what happens Link to comment Share on other sites More sharing options...
Woppum Posted March 17, 2008 Report Share Posted March 17, 2008 i will even though that opens up a whole new can of worms! Link to comment Share on other sites More sharing options...
alera Posted March 25, 2008 Report Share Posted March 25, 2008 Well on top of red kens plans in London it could take the running costs on a 911 to well over £10k a year without petrol.... F*** them I am keeping mine Good news is that it looks like big bonking borris is a shoe in now I think the new road tax and petrol prices are definately killing the second hand market for luxury / performance used motors though...Has no effect at all on the new market £1000 + £450 road tax is not going to deter someone spending £70K plus on a new motor.... It will have a big effect of the cars though when they are 3 or 4 years old though..... Link to comment Share on other sites More sharing options...
theduisbergkid Posted March 25, 2008 Report Share Posted March 25, 2008 I might be wrong, but I think in Ireland they've had a similar system for years, bigger the engine, higher the tax. Doubt its popular there either. Link to comment Share on other sites More sharing options...
Donaldtramp Posted March 26, 2008 Author Report Share Posted March 26, 2008 Yep I saw that in Ireland. Took my M3 over for a weeks holiday and I only saw one other M3 on my whole drive.I was in the big towns and cities as well. The Irish were telling me that their tax was ridiculous on big cars. Not only them. Other countries I've been to, Norway and Denmark (examples I know off) absolutely cripple drivers with tax when buying new performance cars. It's only a question of time before Broon realises there is another big tax take available. It's gonna get worse.... Link to comment Share on other sites More sharing options...
alera Posted March 27, 2008 Report Share Posted March 27, 2008 Well I agree completely with what Mook said. Increase of £200 - £450 on my road tax on both cars wont make me sell either of them far from it. However if I was in the London conjestion zone and that **** red ken got in again and the proposed increases came in to effect it would be £10k + a year for each car when you factor in depreciation (but not fuel and servicing costs) I would have to earn £40k a year just to keep the cars.... I agree the social implications and the "used market mentaility" will have a big effect on the residuals though. I have told my wife I want to be buried in the w12... Lets just pray Boris gets in as do the tories sooner or latter or we are all completely f***** and not just motoring wise..... Link to comment Share on other sites More sharing options...
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