Sadiq Khan’s ULEZ disaster as majority of Londoners ‘can’t afford charge’ | Personal Finance | Finance
Experts are warning that the majority of people in London will be unable to afford the Ultra-Low Emission Zone (ULEZ) charge.
Ahead of the scheme’s expansion next week, new research from Motorway has revealed the extent of Londoner’s concern about the levy.
In a study by the online car marketplace, a majority of non-compliant car drivers agreed they would be unable to pay the £12.50 a day.
According to Motorway’s research, up to 780,000 motorists in London are looking to sell their non-compliant vehicle.
Some 42 percent of residents in the capital city are worried that they will not receive a good price for their car when they sell.
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However, Motorway is highlighting that recent regulations and supply shortages from the pandemic will benefit sellers.
So far, the car industry has experienced a growth rate of 4.1 percent within the first half of 2023.
This means that used cars, whether ULEZ-compliant or non-compliant, are continuing to hold their value.
Sadiq Khan’s ULEZ expansion to all of the capital city’s 32 boroughs is due to be implemented on August 29.
Anyone who is caught driving a non-compliant vehicle will be charged £12.50 a day for driving in London.
When this charge is applied to commuters every weekday for a month, drivers will have to spend £250 if they do not have the right vehicle.
If drivers choose to drive on a weekend, this levy will increase further to £350 a month for those in non-compliant cars.
Alex Buttle, the co-founder of Motorway, went into detail regarding the impact of the green initiative on everyday motorists.
He explained: “With London’s ULEZ expanding on August 29, car owners across Greater London are deciding if they need to sell.
“In the final days leading up to the expansion date, we are seeing car values changing, with the price of some compliant models going up due to demand.
“And while non-compliant cars could see a drop in value, much of the UK still sits outside of Clean Air Zones, so with the UK used car market as strong as it is, there will still be willing buyers for these non-compliant models.
“So just because you’re living in the extended ULEZ, your car could still be in demand elsewhere in the country and therefore still attract a great price.”
Express.co.uk has contacted the Mayor of London for comment.
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