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Bribed to buy a diesel car and regretting now.

Saturday, September 16, 2017

Earlier in March this year, I blogged about how I could sell my car for a higher price when the Vehicular Emissions Scheme (VES) is introduced. 

This new scheme replaces the Carbon Based Vehicle Scheme (CEVS).

The VES will come into effect in the new year and we will see some vehicles which used to enjoy green rebates from $5,000 to $20,000 being slapped with surcharges of up to $20,000 instead. 

My car, for example, will go from receiving a $15,000 green rebate to being slapped with a $20,000 surcharge. That is a $35,000 difference!

Many car models which do not meet the EURO 6 standards will also disappear from the showrooms. 

A couple of popular examples are the Toyota Vios and the Toyota Camry. Apparently, all the models from Chevrolet being sold in Singapore do not meet the new environmental standards.

Of course, I am just a little guy in his little car and I am very much concerned about how everything affects the money in my pocket.

For those who don't know, I have a diesel car. Diesel technology has gone from dirty to green and, now, back to dirty. 

So, apart from the higher price that a diesel car would attract from 2018, there is also a usage based diesel tax. 

Diesel, for many months now, costs an extra 10c a litre.

So, the more diesel I use, the more I pay.

Fortunately, diesel engines are pretty economical compared to petrol engines. This coupled with the fact that I do not drive as much as I used to, I buy only about 40 litres of diesel a month. 

This means that I pay $4 more for automotive fuel each month

OK, that is hardly a disaster.

Actually, with the usage based tax, it seems that I will end up paying less because the government is reducing the lump sum tax (road tax) that diesel cars will have to pay by $100 a year.

I read an article titled "First bribed to buy diesel cars and now they want to tax us" and had a good laugh.

The article is about the predicament of diesel car owners in the U.K. and although I had a good laugh, it is no laughing matter for them.

"When I bought my diesel-powered Citroen C5 estate six years ago, the last thing on my mind was that I would end up being treated as an environmental vandal by a government minister.

"It is quite a shock, then, to hear Transport Secretary Patrick McLoughlin warning motorists like me that we face a hike in taxes designed to punish us for doing what we thought was the right thing and buying a diesel car."

Read the full article: HERE.

Although I am somewhat disappointed that my diesel car is not as environmentally friendly as I once thought it was, when I do drive, I still enjoy the car very much and I am glad that new measures taken by the Singapore government are more reasonable than punitive.

In fact, it might even help to lessen the monetary loss of selling my car if I decide to do so in the new year.

Bribed to buy a diesel car and regretting now? 

If I were in the U.K. maybe but not when I am in Singapore. Heng ah!

Related post:
1. Make $35,000 from selling my car.

2. How much to spend on a car?
3. 3 good reasons to buy a car.


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