The Government has extended the car scrappage scheme – with the £2,000 discount now available to more potential car buyers.
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The extension isn’t only in terms of extra money. The Government has allocated another £100 million to the scrappage scheme – taking the total amount to £400 million, enough for discounts on 400,000 new cars and vans – but it has also relaxed the qualifying requirements.
Younger used cars now qualify
To benefit from the scheme until now, you needed to be in possession of a used car, with an MOT, registered in 1999 up to the introduction of the T-reg number plate. Now the discount is opening up to owners of cars registered up to and on 29 February 2000 – some early V-reg cars. This is to make sure that all 10 year old vehicles qualify.
However, if it’s a van you’re after, and you have a van to trade-in against the purchase of a new one, it now only needs to be eight years old. Any vans registered on or before 28 February 2002 qualify for the discount.
No change to end date
The official scrappage discount amount remains £2,000, with £1,000 coming from the Government and £1,000 (sometimes more) coming from the new vehicle manufacturer. There is no extension to the end date of the scheme, so it will run until 28 February 2010 – or until the money is used up – as before.
Business Secretary Lord Mandelson said: “Consumers and businesses looking for a new vehicle should make the most of the scrappage scheme now. With the new terms, the Government’s scrappage scheme makes it accessible to even more consumers, but it has to end when the funding runs out.”
Regular readers of the Which? Hot car deals will know, however, that the scrappage scheme isn’t the only way to get a discount on a new car, and it is often possible to save even more money without taking advantage of it. As ever, it always pays to do your research and shop around for the best deal.
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