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I've seen a used BMW 4 Series for £36,999 - so why is the road tax £450?

I’m confused with the new road tax rules. I want to buy a used BMW 4 Series. I've found a nice car, registered in June 2017 - so new road tax rules apply. It's £36,999 - so my understanding is that I would be paying £140 VED, but the dealers' website states £450 VED. Do I have to pay an extra £310 because the original list price was over £40,000?

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Yes. If the car was originally listed at more than £40,000 (not including first year tax), the annual tax for the second, third and fourth year is £450.
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