New car sales up due to scrappage scheme

Mon, 06 Jul 2009



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 .
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