According to
car finance news today, the
car scrappage scheme is almost universally being praised as a
success. As many as 50,000 older
cars have now been traded in against
new vehicles, with
buyers lured by massive discounts on new
vehicles .
The dealer offers a discount of £1,000, which is matched by the
Government. Furthermore, some vehicles are being offered at
cut-prices with huge £5,000 plus discounts.
Ten million UK
motorists are in a position to take advantage of the
initiative, but fears are high that the allocated budget will run
out long before the end date next march. 40 manufacturers have
signed up to the £300 million scheme, including leading marques
such as
BMW,
Audi,
Mercedes Benz,
Volkswagen,
Honda and
Nissan .
The scheme is available on all models registered before September
1999, and in order to apply the
registration document must show the name and address of the
car buyer .
