Scrappage Scheme
The UK government has announced the introduction of an incentive scheme to encourage owners of cars which are ten years old or more to trade them in for a new model. The scheme has now been launched and owners of cars over ten years old can receive a discount of £2,000 if they purchase a brand new car. This scheme is ‘time limited’ and will end next March (or earlier if the Government’s £300m commitment fund is expired before then).
Specific details of the scheme are, in simple terms, as follows:
- A £2,000 reduction in the total VAT inclusive price will be offered to the owners of 10 year old, or older, cars when part exchanged for a brand new vehicle.
- The £2,000 saving will be made up of £1,000 from the Government and £1,000 from Vauxhall or Chevrolet.
- The Government will commit £300m to the scheme and the scheme will expire when this fund is used up or at the end of March 2010.
- The discount will be offered to buyers of a new vehicle if they are replacing a vehicle which they have owned for more than 12 months.
- The owner of the vehicle – the registered keeper – must have a UK address and the vehicle itself must have been first registered in the UK on or before the 1st July 1999.
- The vehicle to be scrapped must have a current MOT test certificate or be within two weeks of expiry of its old one and must have a current VED (road tax) or be on a SORN.
- This scheme also applies to commercial vehicles up to 3.5 tons.
- The discount can only be given against a brand new unregistered vehicle not against a used or pre-registered one.
- Depending on the model and the method of funding the discount can be combined with other Vauxhall offers.
Full details and examples of the cost savings now available on new Vauxhalls and Chevrolets are available from your Forest Gate sales advisor.
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