Saga Car Insurance briefs us this time on what the car scrappage scheme is all about. Areas such as which vehicles are included in the scheme and how much you can get for it are once again enumerated to help people consider the pricing factor and discounts should they decide to get a new vehicle.

How the scheme is funded
Approximately half the cash incentive for each sale will come from the Government, whilst the car manufacturers themselves will pay out the remaining £1,000. The car manufacturers will have to sign up to the scheme to take advantage of the offer, whilst dealers will take care of all the paperwork, as well as arranging for the old car to be scrapped.

The conditions
All scrappage cars must have a valid MOT and be registered with the DVLA. Also, the owner must have a UK address and been the registered keeper for at least a year. The new car must be sold only to the person who is offering the scrappage car and be a brand new UK specification vehicle.

Divided opinions
But it would appear that ‘Bangers for Cash’ is already proving to be controversial. One reason being the fact that you can trade your old car in for any new car or van, not just low pollution models, and the second is that the scrappage allowance will be available on all new cars – not just those built in the UK.

(Source) Press

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