In the last few years, the prices for the new vehicles have increased and things are not so different for the used vehicles. The prices will increase further and there is the main reason why.
The technician thinks the reason for this is the expansion of London’s Ultra Low Emission Zone. It now extends from Central London to North Circular and South Circular roads. He says the vehicle is in a good condition and the price he asking is reasonable, but, because it’s an older diesel car when it would enter the ULEZ zone, it will be penalized, so this is repelling the buyers.
The cars that do not meet the ULEZ emission standard have to pay a daily charge. The standard for petrol models is Euro 4 and for diesel, it is Euro 6. Not only do they have to pay the ULEZ daily charge. According to the AA, around 357,530 vehicles may have to pay these charges.
But, what’s bad for some people could be good for others. The owners in London want to sell their vehicles that do not comply with ULEZ and this could be a good business opportunity.
When we talked to him, he said that the owners want their non-ULEZ compliant cars replaced. They are selling their cars for a low price and the dealers are offering them 9% less than what they could get elsewhere in the UK. The customers can also choose to get a front suspension lift. According to him, the reason for this is that the citizens of London don’t know but much about other places. They just assume that what happens here would happen everywhere. This has made them believe that their older cars won’t sell for a good price. Where, in reality, they could sell these cars anywhere else for a good price, as their demand is strong.