We wrote an article back in August 2017 about Beating Brexit. Here we are, two years later, still talking about it! We still haven’t left the EU! However, it looks like Boris might get us out on Oct 31st – possibly with no deal though!! So what does this mean for you, the UK Car Buyer?
Well fundamentally, it means the same as it did back in 2017; car prices are likely to go up after Brexit is delivered and we finally leave the EU. The main cause for concern is a possible Import Duty Tax that will then be introduced – most likely around 10%, affecting the importing of vehicles from the EU. So if you’re considering purchasing a new vehicle in the next 6 months, then it might be wise to think more now than then. Any new vehicle not in the country and registered before Oct 31st could be eligible for this price increase.
It is important to stress that this is purely hypothetical at the moment, nothing has been put in place, but it is wise to consider it as a factor in any proposed purchase.
Ok, so how can MW Vehicle Contracts help?
Well, because the predictable costs of leasing mean that taking out a contract hire agreement, before Oct 31st, amounting to fixed, low monthly rentals for the duration of your contract - unaffected by leaving the EU – and, the inclusion of Road Fund Licence and the option of a fixed price maintenance package to cover some of your running costs, leaves you in the driving seat and in a very stable position post Brexit.
It will mean you have peace of mind for the next few years knowing exactly what your vehicle funding costs will be.
We are proud to be members of the BVRLA, the trade body for the vehicle rental and leasing sector who are completely committed to assist leasing and contract hire brokers and their customers get the best out of the whole Brexit saga.
We will allocate you an account manager to take you through the new car purchase journey and sort out all your bugbears along the way. We can answer your questions around the effects of Brexit and what impact it has on you as a car buyer. We pride ourselves on going the extra mile and finding you the perfect vehicle with a funding package that is right for you.
Contact us today even if you just want some clarity around the right time to buy to help you beat the ominous and ever looming Brexit!
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