Debt consolidation can help with car prices following VAT hike
Debt consolidation can help with car prices following VAT hike
Tuesday 15th December 2009
In last week's Pre-Budget Report, chancellor of the exchequer Alistair Darling announced that VAT would be returning to a level of 17.5 per cent in 2010.
The tax, which is levied on top of the costs of most goods and services, had been reduced by the government to 15 per cent a year ago to help spur the economy during the recession.
Although there have been calls to boost consumer spending by retaining the lower rate, the government decided to return it back to its previous level.
The cost of the Ford Focus, which is the UK's most popular vehicle, could increase by as much as £306 in the new year from its current price of £14,118 according to Auto Trader.
A new Ford Ka will cost £182 more than it does at the moment, while the UK's most popular sports utility vehicle the BMW X5 will go up by £1,300.
The cost of running a car will also increase, with rises in fuel prices due when VAT duty per gallon increases.
Those considering buying a new set of wheels might want to do so before the VAT rise on January 1st 2010. Following the prices rises, people who owe money are likely to find it more difficult to get enough finance to purchase a vehicle.
However, by talking to debt management company people can find out about debt consolidation loans, which can be a good option to help make ends meet.
News article brought to you by Debt1 – The debt consolidation company
Related News
Debt management could help mortgage seekers - 14/12/09
The number of home loans receiving approval has reached its highest level for 22 months, although people with debt problems still face difficulties in getting onto the housing ladder
The number of home loans receiving approval has reached its highest level for 22 months, although people with debt problems still face difficulties in getting onto the housing ladder
Debt management could help pensioners - 11/12/09
Although the state pension was raised in this week's Pre-Budget report, senior citizens could suffer as the government curbs pension tax relief
Although the state pension was raised in this week's Pre-Budget report, senior citizens could suffer as the government curbs pension tax relief
Debt management needed to care for elderly for many - 10/12/09
A leading charity has criticised the government for not committing enough resources to care for the elderly
A leading charity has criticised the government for not committing enough resources to care for the elderly
University cost may force debt consolidation - 09/12/09
Students struggling to pay for university may need to consider options such as debt consolidation and debt management in order to fund their time at university
Students struggling to pay for university may need to consider options such as debt consolidation and debt management in order to fund their time at university
Debt management could help pay water bills - 09/12/09
An official review of water metering has been described as a missed opportunity and could mean that bills become even harder to pay for those in financial difficulty
An official review of water metering has been described as a missed opportunity and could mean that bills become even harder to pay for those in financial difficulty
News Article Search
Quick Apply
News Archive