Quantcast
Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

People 'should be rewarded for scrapping old cars'

Tue, 17 Feb 2009
People considering buying a car in the UK may benefit from a scrappage incentive scheme, it has been suggested.

The Society of Motor Manufacturers and Traders (SMMT) claimed the government should introduce an initiative which offers financial rewards to drivers prepared to get rid of old models.

It stated anyone willing to scrap a vehicle more than nine years old should be given £2,000 towards the cost of a new or nearly new car.

According to SMMT, there would be a number of benefits to such a programme.

First of all, it would provide much needed assistance to the new car industry and secondly it would take older, heavily-polluting vehicles off the road, the organisation explained.

SMMT chief executive Paul Everitt said: "It is vital car buyers are given the confidence to buy now."

Recent figures from the same group showed year-on-year new motor sales fell by more than 30 per cent last month.

Are you buying or selling a car? Click here to find out what Honest John has to say.
ADNFCR-1081-ID-19030351-ADNFCR

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.