VED HIKES THREATEN MODERN CLASSIC FORDS

Drivers of modern classics face a hike in annual VED rates, threatening the appeal of many models

Revised Vehicle Excise Duty (VED) rates introduced from the Rstart of this month have increased the cost burden on running classic and modern classics under 40 years old, with many enthusiasts pointing out an unfair dichotomy between costs and mileage typically covered. It’s also feared that the latest increases could put the appeal of younger classics under threat, as enthusiasts struggle to justify the rising costs of owing such vehicles amid a cost-of-living crisis. VED changes were part of the Spring Budget announced by Chancellor Jeremy Hunt last month. Like most years, an increase in rates in-line with the Retail Price Index was rather buried in the official document, but it means the cost of taxing an older diesel or petrol car that’s not classified as Historic has increased for…

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Classic Ford (Digital) - 1 Issue, June 2024

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