Old Car Trade in Cash Back

[dan54]

LongdogI won't be trading in either my 14 year old Golf or the 39 year old traveller.They can stick that idea where the sun shineth not.Longdog
Exactly what i was thinking only heard of this today and if they think im getting rid of my brand new(to me) minor they can just go muck themselves as i see it.

[Longdog]

This is yet another half baked, half wit government scheme which doesn't take account of the fact that anybody struggling with keeping a roof over their heads and a job probably won't take on £200 finance every month.It was probably supposed to be viewed by the general populous as a government give away.Oh and as a nice by product the treasury gets VAT on the deal.

[IaininTenbury]

Quite. Having seen the details now, I would have though that anyone running a ten year or older car for at least the last 12 months, would either be A: not be in a financial position to buy a brand new car, or B: thrifty or savvy enough not to buy brand new anyway, and the £2k discount would make little difference to either. MAybe a family with two or three cars would trade in the oldest one to replace the newest but other than that I would think it would have limited appeal.
More a publicity gimmick in my view. I imagine if you went in to a dealers, you'd probably get £2k off anyway these days. Local Land Rover dealers are offering £5k off at the mo, so £2k should be possible off 'normal' cars...

[aupickup]

my veiws exacxtly

with reduncies looming every week fo thousands of working people

certainly not going to buy a new car
the government sucks


poloticians are non affected by recessions, in fact i dare say that some are cashing in ,

[rayofleamington]

MAybe a family with two or three cars would trade in the oldest one to replace the newest

There are a few families I know where this could apply. However the ones I know are clever enough to buy a 3-5 year old car and save a fortune rather than a new car and loose a small fortune.

What is likely is that those who regularly buy new cars and have room to keep a spare car will be keeping a banger. The discount from dealers is currently many thousands - however £1k of the £2k announced is from the government...
Therefore you should be able to get an additional £1k over the existing dealer discount.

When you include VAT, first year tax rate, and a few other stealth taxes, the government share of the new car sale will cover most (and sometimes much more) of their £1k funding.

Fleet buyers are one area that's been overlooked. A firm that buys thousands of new cars a year could do well to start buying bangers...

[MarkyB]

An article in the Guardian yesterday said that dealers started upping their prices as soon as this idea was mooted.
I've never understood how people buy brand new cars knowing that thousands of pounds drop off the value as they drive from the showroom
Maybe they'll think their getting a bargain now and will flock to the showrooms.
Anyone want a 1995 Mercedes?
Probably cost £30,000 new yours for £1500?

[d_harris]

Fleet buyers are one area that's been overlooked. A firm that buys thousands of new cars a year could do well to start buying bangers...

tey would have needed to buy them last month.....

[rayofleamington]

tey would have needed to buy them last month.....

actually they've got another 11 months to keep buying them...

[d_harris]

So, the sceme ends in March 2010, you need to have owned the vehicle for 12 months before trading in. So that gives them 11 months to buy cars to trade?? I think either your maths, or mine needs checking over.....

[Sidney'61]

Apparently the scheme is running until the end of 2010...

[d_harris]

Outlining the plans as part of this year’s Budget speech, Chancellor Alistair Darling said the scheme would be time-limited, running until March 2010.

http://www.which.co.uk/news/2009/04/bud ... 174659.jsp

[rayofleamington]

The scheme begins on May 18, 2009 and will run until March 31, 2010 – or when 300,000 buyers have scrapped their cars.

Quoting that one from autotrader - however the same info is on your link.

If the 'end date' was estimated by the same people who do the economic predictions then I'd add a +/- 1000% factor ;-)

[d_harris]

Difference being on which that it states "time limited" I suspect the 300,000 is to stop it earlier if need be....

Also, still not sure of your 11 months comment Ray.....

[rayofleamington]

Also, still not sure of your 11 months comment Ray.....

me neither - I probably meant to say a few months. I expect the period will be extended. I'd actually bet money on it.