Government announced yesterday that the tax breaks will end on 1st of July. BIK will rise to £290 a month 20% tax payer up to £582 for 40% tax payer. Thought this would have happened a couple of years ago to be honest. It’s not back dated to present owners.
Certainly going to hit sales I would think. Of late the Ford Wildtrax has 40% of the market don’t think they will be happy. There will be exceptions in so far as removal of rear seats and rear window blocked in.
Will be interesting to see how the Utility Companies fare, as they need the rear seats, but covered with the kit strapped to them, along with a fair amount of livery, you could hardly use it to go family shopping in.
I know plenty of Company Directors who openly admit they bought them to save the BIK.
I had two back in the day, simply a great tool where I could get five operatives, plus materials everyday the 30/40 mile commute, rather then pay single travelling guys fuel every day
Last edited by hilly10; 13th February 2024 at 20:36.
Had a Ford Ranger, based solely on the tax break, but the fuel consumption soon put a sting in the tail of that great idea
Does that mean there will be an increase in newer used double cabs coming on to the market 2nd half of this year?
Which in turn might squeeze the market down for older models - quite fancy a 10 year old Hilux double cab myself.
Might check and see if there’s any cheap lease deals about, they’re great for the school run!