£2,000 for your old Car

[Kodiak]

Motorists buying a New Car will get £2,000.00 discount if they trade in an old car that is at least 10 years old.

http://news.bbc.co.uk/1/hi/business/8012492.stm

My car is just 10 years old but I will not be rushing out to buy a new one even with a Discount of £2,000.00. My Pension does not stretch that far, also I like my car.

Will any of you be tempted to take up this offer?? I wonder just how many people will be tempted.

[emszxr]

no even with £2k cant afford or want a new car. are they just tempting more people into high purchase and debts and not being able to pat them off?

[MadPict]

Not going to work IMO.

I heard via the 'grapevine' that some motor manufacturers are transporting brand new, fresh off the assembly line cars straight to the car crushers in order to keep the price of new cars inflated.

Rather than do this how about reducing the price of cheaper more efficient new cars down to the actual manufacturing costs and coupled with the £2000 incentive get people into greener newer (and safer) cars? This would also mean the workers might still have a job too...

Oh but hang on, that means the plans to get everyone onto the public transport system would be thrown into chaos....

[Gene Hunt]

So New Labour wont support the British Car Industry but they will give away £2000 discount on a car that in the vast majority of cases wont be built in Britian.

And just who pays for the cost of scrapping the cars that have been traded in ??

Gordon Brown is an Idiot.

[Geo]

Isn't this a way of supporting the car industry? New car sales have shot up in European countries where similar schemes have been implemented. The car companies building in Britain seem happy enough with it although they have to pay half.

I guess those in the market for new cars will like it. Ultimately I wonder will it put the price of bangers up for the rest of us.

[Gronnuck]

Now I might be well off the mark here but I would imagine most people who drive a ten year old car do so because they love their car or can't afford a new one.

So you get a voucher for £2000 when you trade in your old car on condition that you use it to buy a new one. I suspect the dealers will increase the price of the prospective new car ahead of any sale knowing the buyer has 'more' to spend.

This scheme will do nothing to reduce the number of new cars stored at disused airfields all across the country. It will do nothing to change the fact that the manufacturers are still producing cars that few people want.

Gordon Brown and Alistair Darling are as thick in the heid as $#1% in a bottle! Tell me I'm wrong.

[Errogie]

I think the value of my 13 year old van has just jumped from £300 to £1000. Any offers?

[joxville]

I reckon it could work since anyone wanting rid off an old banger could get a couple of hundred extra for it, which then becomes worth £2000 on trade in.....everyone's happy.

[alex]

I think the value of my 13 year old van has just jumped from £300 to £1000. Any offers?

Would have, but it turns out the small print means you have to own it for a while (a year I think) before you can be eligible for the offer. It's a scam anyway, of course, to help the motor lobby.

[rockchick]

The big problem for me with this scheme is that any new car will lose £2,000 (or more) of value as soon as you drive it off the lot. Does anyone know if nearly-new cars are included in the scheme as well?

[Ojibwa]

The big problem for me with this scheme is that any new car will lose £2,000 (or more) of value as soon as you drive it off the lot. Does anyone know if nearly-new cars are included in the scheme as well?

Except for maybe Mini Coopers. I heard they do not not lose any value but increase in value. Is that true ?

[Tristan]

THis might help.

http://www.autotrader.co.uk/EDITORIA..._next_car.html

[bish667]

You would get £2000 or whatever off the trade price, however the cash price is cheaper so you wouldnt save as much as you would think, not that i have any interest in buying a new car.

[Bobbyian]

Mr Brown should think again .... they have done this sort of scheme here in Germany since January ... there are no cheap bangers for first time buyers only the cheap end of the new car range has benefited. mercedes are on 25% work where as VW has practically sold out in the Polo range..... the Scrap merchants are screaming because the steel price has gone in the cellar and his parking lot is full of very good cars he has to scrap .. and its vertually no point in saving parts for spares because on the whole the second hand car market doesn`t exist any more with so much in basically what are Urban motoring taxes Pollution taxes etc. In my opinion after all this there wont be a market for new cars for about Year after this scheme closes´sorry about the rant...

[TBH]

Credit on tap got us into the mess now instead andiving the tightening of belts, they give us incentives to buy new cars and increase our debts. If your car is roadworthy and gets you from a to b with no trouble then why bother?

[moncur]

Im just wishing that I had kept my '99 T reg fiesta instead of doing a swap for a slightly newer fiesta.

I would have seriously considered trading in my car had I been eligible (and if I could save the dosh for a new car by March 2010). Road Tax on cars made up to 2001 is horrendous due to the emission levels they produce. I just taxed my Y reg fiesta for 6 months and it cost £80 which is a real kick in the teeth when newer small cars require little or no road tax to be paid.

Was reading the autotrader link and noticed that cars need to pass an MOT to be eligible for the £2000 so maybe not everyone with a banger will benefit. Plus the scheme is voluntary making it more difficult for people to find dealers taking part.

[bish667]

Road Tax on cars made up to 2001 is horrendous due to the emission levels they produce.

Hello Richard
Its not always bad as if you get a pre 2001 high performance car its better for tax.
For example:
A 300BHP+ performance car produced before 2001 will cost about £95.00 for 6 months road tax.
The majority of cars over a 1.5 (or whatever the cut off is) pay exactly the same.
Also in comparison I know someone that has a 1.4 astra made after 2001 and he pays more road tax than i did for my old 300bhp car.

However the new cars of high performance pay road tax of over £300 so i'll be sticking to older cars.