VAT qualifying cars

Mar 30, 2021 | The Hub | 0 comments

At LMC Cars, we have a specialty for VAT qualifying vehicles, but not everyone knows what they are and how it works, so let us explain…

A VAT qualifying vehicle is one that has been owned by a business or is brand new from a main dealer. The first point is particularly relevant here, as it applies to cars that have been owned and driven by businesses, never for personal use.

When buying a VAT qualifying vehicle, you can then claim back the 20% VAT, after the purchase is made. This essentially saves you 20% of the cost of the car.

It is important to check whether or not the car is VAT qualifying before committing to the sale, expecting to be able to reclaim the money, so it is always best to check the fine print and finer details with the dealership first.

Aside from the financials, there are a couple of other benefits to buying a VAT qualifying car…

For one, with it being used purely for business, it is likely that the vehicle has been kept in excellent condition. As with cars for business, it is usually a requirement or prerequisite that they are maintained to a certain level.

Another benefit is that the standard of these cars is usually quite high, meaning you could get a nice car with a decent spec at a good price, not to mention the fact that most of the depreciation will have already happened too.

If you are interested in finding out more about VAT Qualifying cars, you can browse the ones we have available or get in touch with a member of the team at LMC who will be more than happy to help. We have years of experience in buying and selling cars, with plenty of experience in VAT qualifying too, so if there is anything you need, please do get in touch.