Extra £100m Added to Scrappage Scheme
Posted on September 28, 2009
Filed Under Car Scrappage, News | Leave a Comment
Exciting news today for those of you who have yet to take advantage of the UK car scrappage scheme. The government has announced today that they are extending the scheme from £300 million to £400million - that’s an extra 100,000 cars that can be scrapped under the scheme.
This is very good news indeed, as the huge success of the scheme has meant that to date 227,750 new cars have been ordered - each receiving at least the £2000 scrappage cash. The original scheme meant that only another 70,000 cars would be eligible before the money ran out - but now another 170,000 cars can be submitted under the scheme.
However, it’s not all good news. The scheme is still presently only running until February 2010, however many cars are scrapped. So you only have five months left to take advantage of this huge cash incentive to scrap your old car.
Car Scrappage Scheme Good for Economy
Posted on September 25, 2009
Filed Under News | 1 Comment
The latest news suggests that us car buyers are not the only one to benefit from the car scrappage scheme - both the government and the economy have directly benefited.
Reports suggest that the government will make at least £100 million from the scheme, even with its initial outlays to people who’ve scrapped their old clunker for cash towards a new car. This money has come from the 20% boost in sales and consequent increase in VAT receipts.
The government is not the only one to benefit, car manufacturers are seeing a general increase in the sales of new cars which means less redundancies and layoffs in the car manufacturing industry. Again, good news for a lot of people and the economy as a whole.
All this has led to increased calls for the Government to extend the scrappage scheme past its financial and calendar deadlines. A call that, at the moment, is being resisted - so time may be running out if you want to get cash for your old car!
Second Hand Cars Rise in Price
Posted on September 14, 2009
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As reported before, the scrappage scheme has been a resounding success, but like many things in life there’s always give and take. In this case the ‘give’ of the scrappage cash bonus is matched by the ‘take’ of a huge rise in price of second hand cars!
A report in the Telegraph suggests that used and second hand car prices have gone up by an average of £600 this year, reversing the usual downward trend of previous years. In some cases old cars are selling for 25-50% higher than usual!
What this might suggest is that rather than using your old car to get a new car scrappage deal you might want to try selling it on the second hand market instead. Then you can use the extra money you make towards a new car without a scrappage deal, as the report also found that new car prices are coming down as well as manufacturers struggle in the current economy. Either way, it all sounds like great news for anyone wanting to replace their current car with a newer model!
SORN and Scrappage - What’s the Deal?
Posted on September 13, 2009
Filed Under Car Scrappage | Leave a Comment
The greal idea behind the government’s scrappage scheme is that it takes older models off the road, replacing them with newer, more environmentally friendly and fuel efficent cars. Not a bad idea, and one that can get you a £2000 bonus should you have a qualifying old car to trade up.
However the government already has a way for us to keep old, inefficient cars off the road when we don’t drive them any more - the Statutory Off Road Notification or ‘SORN’ for short. So what’s the deal if you have a car that’s been SORN’d but want to apply it towards a brand new car and get your scrappage bonus? Well it’s not good news, but it’s not all bad news!
Sony TV Scrappage
Posted on August 22, 2009
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Sony UK have announced a trade-in scheme for old Televisions that works in a similar way to the UK Government’s vehicle scrappage scheme. You can trade in an old television for models across Sony’ Bravia range to receive up to £150 off - on TVs of 46″ or larger.
Although this strictly speaking just a trade-in deal, the benefits are still great for us as consumers. Just bring in an old telly, get some more junk out of your attic, and have a lovely, new LCD screen to enjoy. Nice. Full details of the UK scheme are here.
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