24/04/2009 by bill.

Following the budget announcement of the car scrappage scheme, several manauafacturers are already advertising deals. The scheme means that you can get £2000 allowance when you trade in a car that is at least 10 years old for a new one. The government contributes £1000 and the car manuafacturer the other £1000 and not all manufacturers are expected to join the scheme because of this requirement.

However, it is clear that other manufacturers are not only promoting the sheme but offering additional discounts or attractive finance deals as well.

By the way, don’t be tempted to rush out to buy an old banger to trade in, the trade in vehicle has to have been registered in your name for 12 months and the scheme is due to end in March 2010.

So is now the time to buy a new car? Well there are deals to be had but many drivers may feel that buying a nearly new secondhand car represents better value by avoiding the big first year depreciation. It also depends on the cost of financing your new car. Dealers may have attractive offers but you may get a better deal by arranging your own finance. Click here for advice on selecting the right personal loan for you. Or see the moneyjungle.net business directory for links to personal loan providers.

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22/04/2009 by bill.

In today’s budget, the Chancellor announced a new car scrappage scheme. Until March 2010, consumers will get a discount of £2,000 on a new vehicle if they scrap a vehicle more than 10 years old that they have owned for more than 12 months.

It is hoped that this will give a boost to car manufacturers who point to the success of a simiar scheme in Germany.

Although full details are yet to be announced, environmentalists will be disappointed that the scheme is not limited to the purchase of less polluting vehicles.

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