60,000 take up Government scrappage scheme in 1st month
Posted by admin - 17/06/09 at 02:06 pm
Despite early criticism of the UK vehicle scrappage subsidy scheme, consumers are showing an appetite for the offer with around 60,000 car buyers taking the deal in its first month of operation, according to official figures. No further information has been released about the vehicles being selected, but it’s t hought that greener, more economical models are being favoured by consumers. The figures include all qualifying orders made since the scheme began until 7 June 2009 prompting some industry commentators to predict the early closure of the scheme, originally planned for February next year. At the current order rate, the £300m set aside by the Government would be depleted within 5 months raising the question of whether more money would be pledged to support it.
While the initial signs appear positive, less clear is whether UK car manufacturers are seeing much benefit ahead of international competitors selling their imported vehicle stocks.
Vehicles that qualify under the scheme are those:
• First registered on or before August 31st 1999 (‘T plates’ or older);
• Registered in the seller’s name for at least 12 months;
• With a valid MOT certificate or one that has expired no more than 14 days prior to placing the order;
• With a valid tax disc;
• With owner details exactly matching those documented on the V5 of the vehicle to be scrapped (registered keeper name and address) AND the new vehicle to be purchased;
• Where the new vehicle to be purchased will be first registered to you; and
• With no outstanding finance obligations (e.g. HP or other loan secured against the vehicle)