VAT changes for used motors in July

E39MSport

Hi,

I understand that dealers will have to pay VAT on the markup only for cars that they take as trade ins. Any cars bought by them before July 1 can have the VAT on the full sale price spread over a period.

Can someone in the trade put in lay man's terms what the impact of this will be for the buyer after July 1 please.

(in your opinion) Is it worth waiting until then to make a purchase? Will dealers be giving people better deals for their trade ins? Will they be dropping the price of existing vehicles on the forecourt to match the new (used) stock coming in?

Ta.
K

(sorry if this was covered already, I couldn't find it)

Kartale

Fairly sure that this another thing that our esteemed finance minister did a u turn on.
To answer your Q. i would think that dealers might be more likely to drop prices if this did happen as they would not have to pay the extra VAT charge on selling price versus actual cost price

jhegarty

Yep , it was all called off.

E39MSport

AAAAArrrrrrgggghhhhhhhhhhhh

drunkmonkey

jhegarty wrote: »

Yep , it was all called off.

http://www.irishtimes.com/newspaper/motors/2009/0520/1224246941774.html

:rolleyes:, ahem..