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UK Scrappage Scheme

In the Budget on Wednesday 22nd April 2008, Chancellor Alistair Darling announced the introduction of a Government Scrappage Scheme, a £2,000 allowance on vehicles 10 years or over.

Although the exact details and the implementation of the scheme are still being developed below is a summary of the scheme details so far. We will update this when more information becomes available:

  • In exchange for scrapping your old vehicle and buying a new one the Government and the Manufacturer will contribute a total of £2,000 towards the purchase of a new vehicle
  • The scheme starts on May 18th 2009 to March 2010, depending on whether its fixed budget runs out sooner
  • The scheme is open to cars or commercial vehicles up to 3.5 tonnes
  • To be eligible, the vehicle you scrap must have been first registered on or prior to 31 July 1999
  • To claim the Scrappage Scheme, the owner must be the registered keeper of old vehicle for at least 1 year and the vehicle must have an up to date MOT
  • The scheme will be available to the first 300,000 eligible claimants or until 31 March 2010, whichever is sooner

In order to benefit from the cash incentive, all you need to do is take your vehicle to your Marshall Dealership, who will take care of everything for you. It couldn’t be easier to buy a new car.

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Now is positively a great time to buy a car

Why use Marshall?
  • Scrappage Scheme
    The Government is expected to introduce a scheme where if you part exchange your car which is over nine years old then
    you may qualify for £2,000 off the list price of a new car.

  • Mortgage payments are down
    This leaves the average household in this country with £200 a month more in their pocket.

  • Interest rates are down
    Most cars are financed in some way and borrowing money to buy a car is now cheaper than it was.

  • Savings rates are down
    Declining interest rates mean that income from money on deposit is almost negligible and likely to decline further, why not make good use of it to reduce your monthly outgoings?

  • Production is now being scaled back to meet demand
    But there are still many thousands of new cars which the manufacturers are keen to sell. This means that the offers and deals now around are stunning and unlikely to be repeated.

  • VAT is down to 15%
    On the price of a car this makes a big saving, but only until the end of this year when the old rate will come back into force.

  • The cost to change is less
    Although residual values have been falling, so have used car prices and new car deals are stronger than ever.

  • Personal Contract Plans (PCP) guarantee your costs
    If you are worried about the part exchange value of your car when you come to change it, why not take out a PCP and someone else will guarantee the future value so you don’t have to worry.

  • Motor finance lenders lend at lower rates
    While bank loans are harder to secure, the motor finance companies have plenty of money to lend and are keen to win business from the banks by offering lower rates.

  • Newer cars are cheaper to run
    Advances in technology mean that newer cars are much more efficient that older cars, this results in cheaper servicing, lower fuel bills and cheaper road tax.

  • Buy now before the strong €uro forces prices up
    While they need to reduce their stocks, manufacturers are resisting the need to increase prices to account for the fluctuations in the currency markets.

  • Why not ask us to demonstrate to you that now is the right time for you to change your car?
    We will be delighted to work out a plan that is just right for you and your circumstances.

    We are here to look after you and your investment.