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Scrappage scheme: the facts
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In his Budget
statement to the House of Commons on 22 April 2009, Chancellor of
the Exchequer Alistair Darling confirmed that a scrappage incentive
scheme will be introduced.
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A total of
£2,000 will be offered in a “cash-for-scrap” scheme for 10-year-old,
or older, cars.
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The £2,000
saving will be made up of £1,000 from the government and £1,000 from
the relevant car manufacturer.
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Participation
in the scrappage scheme by specific car manufacturers is voluntary.
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The funding
will be made up of £300million from the government – a figure that
will be matched by manufacturers participating in the scheme.
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The scheme is
expected to be introduced in mid-May.
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The scheme
will run until the start of March 2010, or until all of the
government funding has been used.
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The discount
will be offered to consumers buying a new vehicle to replace a
vehicle which they have owned for more than twelve months.
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The
registered keeper must have a UK address.
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Eligible
vehicles must have been first registered in the UK on or before 31
July 1999 and have a current MOT test certificate.
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Scrappage
savings apply to commercial vans (up to 3.5 tonnes) as well as cars.
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The scheme
will be audited by the DVLA.
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Scrappage trade-ins can only
be made against new cars.
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