There has been much debate on the value and availability oil as a resource. Most can agree the way that we have used this resource has polluted and harmed the very environment that we live in.
To stay in line with EU rules on CO2 emissions a lot of cars today are eco-friendly to some degree. Those who drive cars which emit higher levels of the gas are penalized with road tax charges.
Tax Benefits of Driving An Eco Friendly Car
If protecting the environment doesn’t provide sufficient incentive for you to drive an eco-friendly car, here are some benefits that impact your pocket.
- Drive a car that produces less than 100 g/km of CO2, and you’ll automatically be exempted from the Vehicle Excise Duty road tax in the US. The savings here could be as much as £200.
- Your insurance will also decrease when you drive an eco-friendly car. Many issuers offer a 5-10% discount for green vehicles. Recently, a lot of issuers have been promoting plant a tree, and have taken it upon themselves to donate a portion of their profits to eco charities.
- Tax free car owners also receive an exemption from the London Congestion Charge. To qualify, your car must emit 100g/km or less of CO2 and meet the standard for air quality outlined by the Euro 5.
New cars registered after January 1, 2011 automatically meet the Euro 5 Standard.
Image by Michael Cavén (Flickr)