ULEZ expansion turning London into ‘no man’s land’ for drivers as pricey charges coming | Personal Finance | Finance
Experts are warning that London will likely turn into a ‘No Man’s Land’ for motorists in light of the ULEZ expansion.
Drivers are at risk of falling foul of the environmentally friendly scheme which will expand into all of the capital’s 32 boroughs by the end of the month.
Those who are caught driving a non-compliant vehicle will be charged £12.50 a day for driving in a ULEZ.
If this charge is applied to drivers every day for a month, motorists will acquire £250 for driving during the working week.
This charge will grow to £350 a month if drivers with non-compliants cars choose to drive on weekends.
Recently, the Mayor of London Sadiq Khan announced the expansion of the city’s scrappage scheme to better support residents.
As part of this initiative, drivers with non-compliant cars could get grants of up to £2,000 to pay for a new vehicle.
However, some experts are warning the ULEZ is coming too fast for drivers and the scrappage scheme is still not enough.
Speaking exclusively to Express.co.uk, Leasing.com’s motor expert Chris Evans broke the current state of support.
He explained: “For many, the ULEZ expansion could feel like motorists no man’s land, for drivers and businesses alike.
“The extension of the scrappage scheme has no doubt brought with it some relief, but it doesn’t unburden people from having to work out what they do next to ensure their vehicles are compliant in an affordable way.
“And while there are numerous promotions being offered in addition to TFL’s scrappage scheme, which may soften the blow a little, they are largely encouraging the take up of alternative forms of transport.”
With these added financial pressures, leasing is increasingly becoming an option for those looking for a last-minute option to avoid the ULEZ charge.
Mr Evans added: “For those motorists, this is an opportune moment to re-think their car ownership and consider leasing their vehicle. With affordable monthly costs, it is a cost-effective and efficient way to replace a non-compliant vehicle and save on the Ulez charge.
“For example, motorists could lease the Volkswagen Transporter for £298 a month – which is £48 less than paying for the monthly ULEZ charge.
“Leasing also helps you roll several monthly costs into a single payment, like the inclusion of road tax in your monthly bill and, unlike PCP arrangements, it isn’t affected by APR.”