Is It A Good Time To Buy A Used Luxury Car?

01/07/2020

Is It A Good Time To Buy A Used Luxury Car?

When talking about buying a collector or luxury vehicle, several criteria will determine the expected budget, purchase costs, usage costs, maintenance costs, remaining resale value, taxes. The latter is the subject of much agitation, especially with regard to new vehicles. Inflation on the bill which targets new luxury cars and which can make the used market interesting from this year.

Luxury and collector car, update on taxation in 2020

Since the advent of Bonus-Malus in our territory, originally called copastille, which has been in place since 2008, buyers have become familiar with the scale of Bonus-Malus based on CO2 levels in the NEDC cycle.
From year to year, the bar has become more and more strict:

  • In 2010, a vehicle emitting less than 160 g CO2 / km made it possible to avoid a MALUS.
  • In 2019, only vehicles that did not exceed 116 g CO2 / km escaped.
  • Since 2017, the NEDC cycle has been replaced by the WLTP test, which is more true to real conditions of use, but which significantly increases CO2 emissions.

2020 therefore announced a new scale, The penalty on cycle WLTP will relate to vehicles emitting more than 138 g CO2 / km. New scale combined with a new taxas is usual every year to encourage the purchase of less polluting vehicles.

This change in taxation, combined with a change in the measurement of CO2 emissions, led the government to fear a potential risk of registering new vehicles. A change originally planned for July 1 was finally worked out quite early, March 1, at the beginning of the health and economic crisis that everyone knows.

2 months later, the Bonus system has been revised again with a new car support plan in an attempt to relaunch the vehicle market, preferably those with low carbon emissions. With this new tax, you therefore no longer have to forget your calculator when you have to choose a new vehicle that emits a little too much CO2, because in addition to the purchase price, A Malus must be delivered, of which the last installment reaches 20,000 for vehicles that now have a CO2 level of more than 212 grams CO2 / km (according to WLTP standard)

And the bonus? There is only power or almost.

It is within the framework of its policy in favor of cars that the government has decided to establish an ecological bonus system for electric cars. A decree from December 2019 sets this bonus at 6,000 euros for the purchase of a new car whose price does not exceed 45,000 euros. And as part of the recovery plan, this bonus increases by 1000, i.e. 7000 since 1 June 2020 and until 31 December 2020.

Luxury car enthusiasts are hit by a small bonus of 3,000 euros, which relates to electric cars, whose price is between 45,000 and 60,000 euros. In addition to 60,000, no bonus is returned.

Plug-in hybrid cars will again be entitled to a boost as part of the recovery plan, a bonus of 2,000, – subject to certain criteria, the price of the vehicle must not exceed 50,000 (price incl. VAT stated) and autonomy in electricity must be greater than 50 km. As far as luxury cars are concerned, the selection is therefore very limited.

And for the most powerful vehicles?

This latest development does not call into question (at least not for this year) another Finance Act, the one from 2018, which introduced an additional tax on very powerful vehicles. Luxury cars are therefore affected by this measure. This tax applies to cars with an output equal to or greater than 36 fiscal horsepower.

Owners of luxury cars must pay 500 euros per. tax horse from the 36th with a ceiling of 8000 euros. As with some yachts, this charge turns out to be low yield.

That is why the government has planned to abolish it in 2021. It also intends to abandon what professionals call “used”the penalty, which charges a surcharge for very powerful vehicles and therefore luxury cars. Finally, the so-called “Yearly” fine imposed on highly polluting vehicles will also disappear in 2021.

We can therefore bet that buyers of internal combustion vehicles will turn more to the used market … the possibility that we can interview a car salesman who knows the new market as well as used: Vincent Heck, Sales Manager for auto ads site reezocar.com

A very varied market, and many import options

I’m looking for one “racing car” with 300 horsepower or more?

Buyers, for example, prefer the Ford Mustang 2.3 EcoBoost (the only European model because the other models will require upgrading to EU standards, hence exponential costs and delays, which will be a major obstacle to the acquisition of these vehicles). There are quite a few Ford Mustangs from Germany or the Netherlands for less than 30,000 (lowest price found on the reezocar.com search engine), and very little loss on resale of this vehicle.

A trendy and luxury car?
Two trendy vehicles that are very popular used, Porsche Macan and Porsche Cayenne. We see many of them circulating because the new generations have come out recently, bringing the price of the former down from 15,000 to 20,000. will have traveled more than 100,000 km, but as the saying goes, a moving vehicle is a vehicle that wears less than a stationary vehicle!

One “chief” vehicle?
For those aiming for a rarer and rather stylish and sober vehicle: the Maserati Ghibli. A brand that is still relative “exclusive” and rarely seen on our streets, a boss’ car! Available in petrol or diesel, in petrol you have access to a lot of power!

A sure value in the collection?
In the category “collectibles” (+30 years) that go across the decades, not because they are luxury cars, but because it has become a luxury to afford them, there are many acquisitions of Jeep Willys, for “Big Fans” of post-war vehicles as another vehicle for their second home or for weekend trips. Namely that a Jeep Willys can be found in almost new condition, completely restored for 25,000.

What about the French vehicle then?
Lemon SM. Emblematic French vehicle that does not age despite parts becoming more and more rare, it is necessary to go through fan clubs or others. It is up to you to see if you want an impeccable vehicle or if you want to embark on a restoration, in this case the prices start at around 30,000.

In any case, check that there will be a professional near you to manage the maintenance of the vehicle. These vehicles can be great deals to buy and resell, provided you keep them in good condition.

In conclusion, the notion of luxury in cars is relative, as is CO2 emissions. For every day you can use public transport, or drive in a modern, economical and comfortable vehicle for under 20,000, and if you have space in your garage, then enjoy a used vehicle, which if it rolls a little, will pollute a little!

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