BREAKING NEWS: Scrappage Scheme is Extended
With the Scrappage Scheme proving to be a big success, the Government announced on 28th September 2009 that more money is to be made available to car and van buyers. An additional £100m will be added to cover up to 400,000 vehicles. They have also opened up the qualification age by a further six months.
See the "Am I Eligible" section below for more details of the changes and see if you now qualify!
The Scrappage Scheme So Far...
As Hylton anticipated, the Government has bowed to pressure and followed Europe with the introduction of a Scrappage Scheme to give a boost to the car industry. In what the Chancellor of the Exchequer, Alastair Darling, described as the Government's "first Carbon Budget", he announced that a Scrappage scheme would run until the funding runs out or by the 28th February 2010 - whichever comes soonest. We expect the funding to run out long before Feb 2010 comes around so if you are eligible don't delay!
The scheme is intended to protect jobs, ensure lower emissions and allow the motorist to invest in a new vehicle at a lower cost.
The scheme is good news for the British motorist. Now they have the opportunity to trade in their old vehicle for a new car or van that is more environmentally friendly. Hylton expects that this will be great value for our commercial van customers as well as car owners.
The Scrappage Scheme is working in eight European countries with success, but as Hylton have been pointing out on our website, the scale of this success is in direct relation to the size of the bonus offered. The huge boost to sales seen in Germany has been dependant on the billions invested by their Government.
Am I eligible for the Scrappage Scheme?
Yes, you are, if your car or van:
- was first registered in the UK on or before 29th February 2000 (i.e. 'V' reg or older) for cars and 28th February 2002 (i.e. 51 reg or older) for vans;
- weighs up to 3,500kg;
- is registered in the UK;
- has been MOT'd before you order your new car or van;
- has been registered in your name at a UK address for 12 consecutive months with the DVLA before you place your order.
Can I buy a brand new car or a van under the Scrappage Scheme?
Yes, you can, if the car or van you want to buy:
- weighs no more than 3,500kg;
- is registered in the UK after the date the scrappage scheme starts (mid May);
- is declared new at first registration in the UK with no previous owners.
