Car Scrappage Scheme Latest

Lord Mandelson has announced in his speech at this year’s Labour Party conference that the car scrappage scheme will be extended to the end of February 2010.

The scheme, which discounts the price of a new car by £2,000 if you trade-in a qualifying old car, was quickly running out of cash but the business secretary announced that a further £100m would be allocated to extend the scrappage scheme to cover 100,000 more cars and vans.

How it Works - Key Features

The vehicle you trade in and the new vehicle you want to buy must meet certain conditions for you to be able to get the discount.

Your vehicle must:

be a car or small van weighing up to 3,500 kilograms (kg)
be registered in the United Kingdom (UK) on or before 31 August 1999
be registered with the Driver and Vehicle Licensing Agency (DVLA) or Driver and Vehicle Agency (DVA) in your name
have been registered to you continuously for 12 calendar months before the order date of the new vehicle
have a UK address on the registration certificate (V5C)
have a current MOT test certificate before date of order for the new vehicle (or within 14 days of expiry at the time of order)
have a current tax disc when the order for the new vehicle is placed (or within 14 days of expiry at the time of order)
be insured when the order for the new vehicle is placed
The new vehicle

The new vehicle must be:

a car or small van weighing up to 3,500 kg
first registered in the UK on or after mid May 2009
declared new at first registration in the UK with no former keepers
When trading in your old vehicle for a new vehicle the registered keeper for both vehicles must be the same.

For more information visit:

http://www.direct.gov.uk/ and http://www.ukcarscrappagescheme.co.uk/