THE VEHICLE scrappage scheme was introduced in April 2009 to stimulate a flagging economy, prop up the motor industry and perk up the government’s VAT takings. It proved a big hit.
More than 390,000 drivers took up the deal, and not before time for the beleaguered motor industry. Car sales had collapsed from a peak of 2.4m in 2007.
In the scrappage scheme the government and the vehicle manufacturer each put £1,000 towards the cost of a new car, in return for the buyer handing over their old banger, which was then recycled. Any car was welcome in part-exchange for the new model, as long as it was more than 10 years old, had an MoT and had been registered with the owner for at least a year.
Now Vauxhall is unilaterally reviving the scheme, offering a £2,000 part-exchange value for any car that has been owned by the customer for at least 90 days. The offer will run until the middle of December.
In the original scrappage scheme the five most traded-in models were the Ford Fiesta, Nissan Micra, Vauxhall Corsa, Volkswagen Polo and Vauxhall Astra. Many would have been worth only a few hundred pounds at best.