For those of us lucky enough to consider buying a just-off-the-production-line car, the UK Government's new Scrappage Scheme means it's time to put your foot down and think about buying that new Mercedes, that impressive Range Rover or brand spanking new Lexus.
With a mouth-watering 2000 pounds discount on your dream vehicle, this new scheme, introduced in the UK's 2009 budget, might well bring the actual purchasing of it significantly closer. The entire fund for UK motorists eyeing up their new BMW, Mini Cooper or new Lexus is 300 million pounds, which translates to the scheme benefitting around 300,000 customers. 1000 pounds is provided by the Government, while the other helpful grand is put up by the manufacturers.
While many a potential car buyer will be gladdened by the prospect of such a deal, the real reason for its introduction is to stimulate the car manufacturing industry, as it has suffered severely from the current financial crisis. The UK car making industry supports a great many jobs and related businesses - so you can feel extra happy about settling into your new Lexus LF AR Roadster, Jaguar XF or Vauxhall Insignia, knowing that you're helping the economy into the upturn!
So what are the pre-requisites for qualifying for your 2 grand discount? Your old car needs to have seen better days - specifically being at least 10 years old. Simple as that - and apart from the financial benefit, you'll be motoring away in a far cleaner, greener vehicle than you had before. This in turn will help the UK to reduce carbon emissions as outlined in such agreements as Kyoto.
The UK Chancellor, Alistair Darling, hopes the scheme will be as successful as similar schemes across Europe. The only concern he and the Government had was that primarily overseas motor makers would benefit from the proposals - such as new Lexus LF from Japan, or Volkswagen Touareg from Germany. In answer to this the treasury is only stumping up half the cash. However, Britain's main auto manufacturers such as Jaguar Land Rover, Nissan and Vauxhall will be extremely glad to see the new scheme get taken up - as UK car sales have slumped by 30 percent.
So if you were thinking of trading in your rusting hatchback due to the broken back door lock, ineffective cigarette lighter, chipped windscreen, non-power steering, now's the time to get rid. Or perhaps you're simply embarrassed by the filthy cloud of black smoke which billows from the tailpipe every time you start it up. If you're suffering from one or two of these auto dilemmas, the UK Scrappage Scheme offers a way out. If you're face is reddened by every single one of these car conundrums, then the 2000 pounds discount on offer is going to be hard to resist!
If you haven't decided if you want a shiny Mercedes Smart car direct from Germany or a new Lexus straight from Japan - or perhaps a home grown Jaguar or Land Rover, you've got until the end of the tax year to make up your mind. The next 12 months are likely to be a popular time to purchase a new vehicle, so you might want to get your driving gloves on and get down to your local dealership!
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