In his Budget statement to the House of Commons yesterday, Chancellor of the Exchequer Alistair Darling confirmed that a scrappage incentive scheme will be introduced.
Key Details:
* A total of £2,000 will be offered in a “cash-for-scrap†scheme for 10-year-old, or older, cars.
* The £2,000 saving will be made up of £1,000 from the government and £1,000 from the relevant car manufacturer.
* Participation in the scrappage scheme by specific car manufacturers is voluntary.
* The funding will be made up of £300million from the government â€" a figure that will be matched by manufacturers participating in the scheme.
* The scheme is expected to be introduced in mid-May.
* The scheme will run until the start of March 2010, or until all of the government funding has been used.
* The discount will be offered to consumers buying a new vehicle to replace a vehicle which they have owned for more than twelve months.
* The registered keeper must have a UK address.
* Eligible vehicles must have been first registered in the UK on or before 31 July 1999 and have a current MOT test certificate.
* Scrappage trade-ins can only be made against new cars.
Key Details:
* A total of £2,000 will be offered in a “cash-for-scrap†scheme for 10-year-old, or older, cars.
* The £2,000 saving will be made up of £1,000 from the government and £1,000 from the relevant car manufacturer.
* Participation in the scrappage scheme by specific car manufacturers is voluntary.
* The funding will be made up of £300million from the government â€" a figure that will be matched by manufacturers participating in the scheme.
* The scheme is expected to be introduced in mid-May.
* The scheme will run until the start of March 2010, or until all of the government funding has been used.
* The discount will be offered to consumers buying a new vehicle to replace a vehicle which they have owned for more than twelve months.
* The registered keeper must have a UK address.
* Eligible vehicles must have been first registered in the UK on or before 31 July 1999 and have a current MOT test certificate.
* Scrappage trade-ins can only be made against new cars.