The Government’s easing of Stamp Duty has given home-buyers more spending power
When the Chancellor Rishi Sunak announced a Stamp Duty holiday to enable the homes market to breathe life into the post-lockdown economy, thousands of prospective house buyers must have raised their eyebrows and applauded wildly.
It meant an estimated nine out of 10 people buying their main home would not pay the tax, removing a not-inconsiderable burden until March 31 next year.
And you could almost hear the sound of belts being slightly loosened as new kitchens, bathrooms and planned improvements were scratched off the wishlist and confidently transferred to the ‘to do’ schedule.
But while a raft of home improvement catologues were being thumbed through, a tentative motor industry would have been hoping: ‘Don’t forget about us’.
Because, although upgrading your wheels may not be high on the list of priorities when it comes to spending some of the equity, now may be the best time to buy that car you’d always promised yourself that, one day, if you had the money …
A combination of factors, including the new September registration plate and an industry also suffering post-lockdown blues, means there could be a lot of bargains and good deals out there.
For example, with a new Nissan Juke available, dealers want their old stock of this very popular SUV off the forecourt which means there are some cracking offers on as-new pre-registered models. In theory, you could drive off in a new bug-eyed compact crossover for less than £12,000.
Similarly, the Fiat Tipo, with its 440litre boot, is one of the roomiest small cars in its class and although it might not be one to make your new neighbours sit up and take notice, there are huge discounts to be found, bringing it down to around the £11,000 mark.
And if you want a larger saloon, consider the Ford Mondeo 2.0 Zetec Hybrid. Although the Mondeo’s days as market leader are long gone, this one can make a long journey pass comfortably. And it’s a rarity – a hybrid for around the £20,000 mark.
And if your new home comes with a car charging point, think about the Renault Zoe GT Line 100kw. Although electric cars were unfeasibly expensive two years ago, they now compare favourably with petrol models and the Zoe, with its conventional supermini looks and automatic style gearbox, can go 250 miles on a full charge, for £227 a month.
As always, the rush for the new registration means an influx of used cars to the market and while some may sneer at anything around five years old that’s got a few miles on the clock, those more astute shoppers will already be perusing websites and forecourts.
So, anyone for a pre-2015 Range Rover Evoque 2.2 SD4 PureTech from £17,500? How about a BMW 118i M Sport from under £9,000? Or a Nissan Qashgai 1.2 DiG-T Acenta from £7,500?
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