Car
buyers choosing to use the new Government
car scrappage scheme may find that they pay more for
car finance, as manufacturers try to make up the difference
created by the discount.
Parkers, one of the leading authorities on
car prices, some companies are choosing to charge more for
vehicle finance on
vehicle eligible for the
scrapping scheme . The cost of these
vehicle loans mean that buyers may even pay above list price,
despite the discount.
The scrappage scheme has been a success to date, with tens of
thousands trading in their bangers for
new vehicles . The £300 million pot is expected to run out long
before the anticipated end date of the scheme.
A
Toyota spokesman reportedly said:
Finance is an option which is different from scrappage. Rates
vary according to what
model the consumer buys and what package they choose. Somebody
participating in scrappage is involved in a different arrangement
from other consumers.
