Used Car Scrappage Scheme Coming To An End

The UK Scrappage scheme is coming to an end soon on the 31st March 2010. Government funds are set to be divided between the 37 new car manufacturers taking part in the scheme.


Lord Mandelson, the UK Business secretary announced on Wednesday that the government funding was coming to an end.


The scheme works jointly between the government and different car manufacturers each putting in £1000 to give a minimum £2000 Scrappage offer for their old used cars. The government have now nearly used up the £400 million allocation for the scheme.


Around 355,000 cars have been sold now since the scheme started last year. We reported that the scrappage scheme was extended in early February and reported around 330,000 cars sold, so within 20 days 25,000 cars have been sold.


Lord Mandelson said:


“This is last orders for the scrappage scheme,” he added


“Car owners need to move quickly to avoid disappointment if they want to buy a new car at a discount.”

24-Feb-2010
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