Scrappage scheme: all the latest offers
The Government may offer a £6000 scrappage incentive, and many car makers are already offering up to £5000 off new cars. Here are the latest discounts...
The incentive is aimed at increasing the take-up of vehicles with low CO2 emissions and to help boost the economy after the coronavirus lockdown. Sales of new cars were down by 97% year-on-year in April and 89% in May.
The first report of the new scrappage scheme was reported in the Telegraph, with the prospect of an announcement on it being made by Boris Johnson on 6 July as part of his coronavirus update to the nation.
It is likely to be similar to the 2009 Scrappage Scheme, which offered £2000 off a new car to anyone scrapping one that was at least 10 years old; £1000 came from the Government and £1000 from the car maker. That incentive lasted for 10 months and resulted in nearly 400,000 new cars being sold.
Some car makers are already offering scrappage discounts to encourage motorists to trade older cars in for new, more efficient models.
To qualify for the schemes the car you're trading in must comply with Euro 1-4 emissions standards, which generally means it will have been first registered before 31 December 2009, although some schemes have been extended to cover newer cars, too.
Euro standards set the emissions limits for new cars; the first, Euro 1, was introduced in 1992. You can check the Euro emissions standard of your car using this website https://www.gov.uk/co2-and-vehicle-tax-tools.
Click on to the following slide to find out what the city of London is offering...
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