Fuel Economy Labels for Used Cars
Buying a new or used car is not a decision that is often taken lightly. After buying a house, buying a car is the second largest household expenditure you will make. Therefore, it is always wise to do a little research in order to get it right. Whilst the initial price of the car is important the ongoing expenses are also worth considering. Many people keep their vehicles for a number of years and therefore should be aware of how much the car will cost to run and how fuel efficient it will be.
To help consumers make decisions on these things, a government initiative was introduced in 2005 where all new cars were given fuel economy labels that detailed the estimated running costs of the vehicle, its average fuel consumption and its environmental impact. The labels were designed by the Low Carbon Vehicle Partnership (Low CVP) to be user friendly and to provide motorists with information that would help them choose the right car for them.
The labels are optional and it is up to dealers to sign up to the scheme, but since their introduction a large number of dealers have become involved. This is great news for motorists who are looking to purchase a new car, but did not really hold any relevance to those drivers looking to buy a second hand vehicle. So in August 2009 the scheme was rolled out to include used cars as well. Again participation by the dealers was voluntary and this time there were two levels for dealers to choose from.
The first involves only labelling used cars on their forecourt that are under two years of age. The second involves providing labels for all cars that were manufactured after 2001. The process is simple, with dealers who sign up to take part being issued with an online link from which they can print off the labels for the cars that they have in stock. The labels will be created by the VCA and colour coded to make reading the information easy.
Labels for used cars will also be similar to those for new cars, providing information on the make and model, as well as the vehicles MPG and an estimated fuel consumption level over twelve thousand miles. At present the scheme is not available for private sales although in the future it may be possible for individuals to retrieve this information from the internet before they make a car purchase. So far the response to the scheme by consumers has been positive with many people citing that a lack of information in the past has made choosing the right car more difficult. Nowadays motorists are not just focusing on the initial outlay involved in buying a car, but also the future costs such as fuel, motor insurance and road tax. These labels should provide drivers with a good indication of what these costs are likely to be and therefore whether they can afford the vehicle.
