The car scrappage scheme has registered some 290,000 new vehicles, according to the Society of Motor Manufacturers and Traders. Between May and December 2009, the scheme covered 284,479 new vehicles .

The success of the scheme has been aided by the willingness of lenders to provide car finance . Even as other sources of credit have dried up, vehicle finance has remained available for many people.

An expert at Think Money was reported as saying: The car scrappage scheme offers significant discounts on new vehicles, but there is still a lot of money involved, and many buyers will still rely on car finance to make the purchase. To bring the cost of a new car down further, we advise people buying a car on finance to speak with an expert car loans adviser about where to find the best deal.