– Prices will fall – E24

Soon you won’t get a one-time tax refund when you export your used car. – Fair and reasonable, says the used car salesman.

A weaker Norwegian krone and tax refunds have caused foreigners to “throw themselves away” from Norwegian used cars this year, Askelaton company Rebel said in October.

In the next year’s state budget, the tax refund rates will be changed.

This will change large parts of the used car market.

Saves a billion

Since 2014, when you export the car abroad, you get back the one-off fee you paid to register the car in Norway.

– The change would mean repayment would be based on the tolls paid when the vehicle was new – not today’s toll rates, writes the Road Transport Information Council.

The effect of the change is that you get less from the state when you export a used car. With the rates, krone exchange rate and taxes you have today, you can make a lot of money exporting used cars overseas.

In 2023, the tax authority estimates that the state will spend a total of Rs 1.4 billion on one-time tax payments to exporters.

The government is expected to save NOK one billion in tariff changes that came in the state budget.

– Fair and sensible, says Jonathan Barr, head of development and analytics, Rebel.

– I think tax money is better going to lower car taxes in Norway than subsidizing unnecessarily low prices in the European car market, Barr believes.

– The offer is getting bigger

Rebel, which buys and sells used cars, estimates that it will have a turnover of at least NOK 400 million by 2023. The company is export oriented. This year, the used car dealer expects to receive NOK 80 million from the authorities to repay the one-time tax on exported cars.

The company believes the change in the repayment plan will reduce the value of many Norwegian used cars.

For example, Parr estimates a price drop of more than NOK 100,000 on the Ford Torneo 2020 model, which shipped at NOK 609,000 earlier this year.

Although the company will earn less from exports next year, Rebel is yet to shelve exports.

– We deal with assumptions, tax positions and rules that apply at all times. If there is a market for export, we will continue,” Barr says.

He also says that the new tariff changes will affect the market in a big way.

– This change means there will be more cars on the Norwegian market. Barr says the higher the offer, the lower the used car price.

Sell ​​before the New Year

Barr also believes that some cars will drop in price more than others.

– This applies to fossil fuel cars from 2014 to 2020, where repayments are tightest, says Barr.

– There is huge demand for fossil fuel cars from abroad this year. We expect that demand to drop significantly. There will be a price correction in the market.

If you’re in the market, he says, it’s a good idea to sell a car like this before the new year, before the new changes take effect.

– If you’re planning to buy, Burr says, think carefully about the price you’re paying.

– It is difficult to say how quickly it will go, but it is clear that most of the demand will disappear when this tax change comes, he says.