Watch sales in £100 quid bangers explode.
Methinks they didn't think this proposal through.
Pretty sure there will be a clause to prevent you buying a cheap banger to trade in the next day.
Also this £2k is off list price. Right now if I walked into a dealer to buy a, say £20k, list price car I'd expect more than £2k discount with semi-decent bargaining. All that will happen is people turn up with their banger to trade in and the dealer will say that there is no discount off list for them so they get the banger and sell the car for more than they would otherwise!
How many people who actually own a car over 10 years old will be buying a £20,000 car though?
It's interesting though, I'll have to see what finance deals are offered on some of the cheaper new cars so I can get rid of my 13 year old Mondeo.
I am not entirely sure about this, but I thought the deal was aimed at people who have owned a car for 10 years or more, not for people who own cars that are 10 years old or more. That is, it will not be possible to go out and buy an old banger, then trade it in under the terms of the deal.
In Turkey - they cut all the taxes on new cars - there is now a waiting list for some models.
Watch sales in £100 quid bangers explode.
Methinks they didn't think this proposal through.
Watch sales in £100 quid bangers explode.
Methinks they didn't think this proposal through.
The could of. It could easily be they are doing it for pollution reduction reasons. Lets face it. Cars made today cause a lot less air pollution then cars 10 years ago.
I've no idea to be honest: I've never bought a new car. I simply chose a figure that seems reasonable. I would accept that I seem to have overestimated as the average price of a new car in the UK is about £14000. Even on a car of that price I'd expect that an average person would be able to negotiate somewhere close to £2k off the sticker price...
Watch sales in £100 quid bangers explode.
Methinks they didn't think this proposal through.
Budget Report said:4.16 To give a boost to the car industry during the current downturn, the Government announces the introduction of a vehicle scrappage scheme. A discount of £2,000 will be offered to consumers buying a new vehicle to replace a vehicle more than ten years old which they have owned for more than twelve months. The Government will set aside £300 million for this scheme with funding matched by manufacturers participating in the scheme. The Government will work with industry to introduce the scheme next month. The scheme will end by the start of March 2010, or when funding for the scheme has been used if earlier.
Methinks they did.
I stand (sit!) corrected.
Who'd have thought it? This useless bunch have closed a loophole to stop us proles from profiteering. I was preparing my "It might be immoral, but I didn't break any rules" argument.
Watch sales in £100 quid bangers explode.
Methinks they didn't think this proposal through.
Methinks they did. They're not going to let you buy up old bangers to get £2k of a new car.
Right.
The government knows a hell of a lot about you, including what cars you have, and for how long.
Methinks they did.
Who'd have thought it? This useless bunch have closed a loophole to stop us proles from profiteering. I was preparing my "It might be immoral, but I didn't break any rules" argument.