Details have been released about the car scrappage scheme, announced in the Chancellor's Budget, earlier today.
UK Scrappage scheme: the details
1 The £2000 incentive is made up of £1000 from the Government with matched funding from industry. The scheme will operate from mid-May until March 2010, or until the Government's funding allocation has been used.
2 It applies to commercial vans (up to 3.5 tonnes) as well as cars that are 10 years old, or older.
3 The scheme is voluntary, so not all manufacturers or dealers will necessarily participate.
4 How to apply
The dealers will do all the paperwork for motorists who wish to participate in the scheme. They will also arrange for the old vehicle to be scrapped. The dealer will check that the vehicle being traded in and the new one being bought qualify under the scheme's rules:-
Old vehicle requirements
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