Is buying a car even more worthwhile now?

Toy car on euro coins - Car purchase thanks to small VAT?

VAT has dropped from 19 % to 16 % by the end of this year - This also applies to car purchases. Thanks to the multi-billion economic stimulus package, the economy is slowly being revived in these difficult times. The three percent reduction in VAT is hardly noticeable in everyday life, but when it comes to big investments, those three percent can make a tidy difference. Whether you're buying or leasing, you can save big here. Are you interested in an electric vehicle? Then you can save even more. But first, slow down: how exactly does the reduction in VAT affect the purchase of a car?

 

Order date or delivery date - what is decisive?

To benefit from the VAT reduction when buying your dream car, it is important that the delivery or collection of the car takes place by 31.12.2020 this year. Some vehicles require more time or are not available. Therefore, be sure to check availability and save a lot of money. The sooner you order, the more likely it is that you will be able to save the three percent.

Calculation examples of the possible savings

To illustrate the possible savings from the VAT reduction, we have calculated the common "magic limits" for you:

Vehicle value

Savings

10.000 €

300 €

15.000 €

450 €

20.000 €

600 €

25.000 €

750 €

30.000 €

900 €

35.000 €

1.050 €

45.000 €

1.350 €

50.000 €

1.500 €

Does the VAT reduction also affect leasing?

Are you considering leasing a car or do you already use a leased vehicle? Then we have good news for you - the reduction in VAT also applies to leasing. The monthly instalments will be adjusted until the end of the year, without any further action on your part.

Corona purchase premium - What about electric cars?

In order to further promote the purchase of the increasingly popular electric cars, the associated environmental bonus was extended as part of the economic stimulus package and the federal share was additionally doubled! The manufacturers' share remains the same. The federal and manufacturer's share means that you can now receive up to €9,000 in purchase bonuses instead of the previous €6,000. For electric vehicles with a net list price of less than 40,000 €, the federal share has doubled from 3,000 € to 6,000 € for battery vehicles, and for plug-in hybrids the doubling has increased from 2,250 € to 4,500 €. For a net list price of over €40,000, the federal share has risen to €5,000 for battery-powered vehicles and to €3,750 for plug-in hybrids. For a battery vehicle with a gross list price of 35,000 €, you can therefore save up to 10,000 €.

So if you have been thinking about buying a new car for a while, you should not hesitate too long. Especially if you are considering an electric car, you should take advantage of the environmental bonus and save around 25 %.

 

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