• Mon. Apr 22nd, 2024

Government aid to buy a new car

Byadmin

Sep 5, 2023
cars from government

Aid to buy cars in 2021 is marked by the crisis caused by the coronavirus. To increase registrations and thus reactivate the United states automobile industry, the Government has promoted a series of aid packages for car purchases. With this, in addition, they intend to renew the car park , which is estimated to be around 13 years on average, and promote the transition towards alternative propulsion technologies.

For all these reasons, this year electric cars will have a subsidy. So, if you are thinking of buying a new car , these are the government Grants to get a free cars that can be requested to alleviate the economic outlay that this operation entails. Of course, they are not the only ones. After months without recovery in car sales, the Government has decided not to update the 2021 Renewal Plan and has presented  the MOVES III Plan,  endowed with 400 million euros that can become 800 if necessary.

The Pla MOVES III, will reach 400 million euros and will be in force until the end of 2023. It is an aid destined to the purchase of electric cars and recharging stations . In this edition of the plan, the aid will amount to up to 7,000 euros for the purchase of passenger cars, 9,000 euros for vans and 1,300 euros for motorcycles,  if you scrap a vehicle in your name. If you don’t have a vehicle to scrap, you can benefit from aid of up to 4,500 euros for cars, 7,000 euros for vans and 1,100 euros in the case of motorcycles. In the case of recharging points, the MOVES III Plan will pay 70% of the installation.

Also Read : Get free mattresses online and in your neighborhood

These grants are intended for passenger cars, vans, motorcycles and quadricycles, all of them electric, fuel cell or plug-in hybrids , new or registered by the dealer up to 9 months before April 10, 2021, with a maximum price of 45,000 euros and 10,000 in the case of motorcycles. It is important to know that these aids must be declared as an increase in assets in the IRPF.

The MOVES III Plan will be promoted by the Government of United states, but its execution will be transferred to the autonomous communities. Therefore, it will be the regional institutions that will manage the allocated funds, which may reach up to 800 million euros if the funds are exhausted.

How are these aids to buy a car taxed?

Despite the economic advantages that these grants can mean for those who want to acquire a new vehicle, you must bear in mind that these grants are not part of the income exempt from Personal Income Tax (IRPF), so, perceive them, you must include that amount in your income statement and pay the amount that corresponds to you based on your income.

In this way, the highest incomes could have to pay up to 48% of the total aid granted , while the lowest should pay 19%. This is because these types of subsidies are considered capital gains not derived from the transfer of assets . Which means that, in practice, this income is added to the rest of the salaries and income that make up the general income tax base. However, this tax burden only applies to direct aid Free cars granted by the Government, so it does not apply to the discount that manufacturers must apply.

Likewise, if you apply for the Moves Plan, you should bear in mind that, depending on the amount received, you could be forced to file an income tax return, since the State will be considered a second payer. In this sense, all aid that exceeds 1,000 euros will oblige its beneficiaries to present the declaration.

The actions of the brands

The aid that comes from the Government is not the only way that exists to subsidize the purchase of new cars . Brands also carry out a series of actions through interesting offers with a clear objective: to increase the visits of hypothetical buyers to dealerships in the hope that they will make the purchase effective.

In this way, both manufacturers and dealers try to assume one hundred percent promotion through campaigns that are modified depending on each month. In addition, the dynamics of the market have been changing over time and now any time of the year is a good time to make a purchase since discounts are usually permanent.

other tips

A few tips can be added to the aid from the State and the promotions of the manufacturers. These are guidelines that can influence the purchase price of the vehicle, helping it to be somewhat lower than the original figure.

Leave a Reply

Your email address will not be published. Required fields are marked *