Car Scrappage Scheme
Experts say manufacturer price rises of up to 14% mean that the government's scrappage scheme may not be worth it. Consumers were warned this week that buying a new car under the government's car scrappage scheme could be a false economy because some manufacturers have raised list prices by up to 14% from last year - for example, the mid-range Ford Fiesta has increased by over £1600 since October and the Vaxuhall Insignia some £2500 this year.
The scrappage scheme reduces the cost of a new car by up to £2,000 if they trade in their existing vehicle which has to be at least 10 years old and have a valid MOT and been owned for a minimum of 12 months. If the UK scheme continues to be taken up at the current rate the money the government invested will run out in October this year.
The scrappage scheme reduces the cost of a new car by up to £2,000 if they trade in their existing vehicle which has to be at least 10 years old and have a valid MOT and been owned for a minimum of 12 months. If the UK scheme continues to be taken up at the current rate the money the government invested will run out in October this year.
