Qualified advisers answering your
Financial Questions
call 0800 092 1245

Is the UK car scrappage system value for money?

The consumer magazine Which has today stepped into the debate regarding the UK government's car scrappage system and whether it truly does offer value for money. Under the scheme, motorists will be able to scrap their old cars (in excess of 10 years old) and receive up to £2000 off a new vehicle, which will be funded by the government and car manufacturers. However, the Which magazine has found that many vehicle manufacturers have increased the price of their new cars by up to 14% in just 12 months.

When you consider the cost of a mid range Ford Fiesta has risen from £11,570 to £13,195 in just eight months, and the cost of a Vauxhall Insignia has gone from £17,981 to £20,430 over the same period, there may be more value in the nearly new car market. While car owners will need to do their own investigations regarding price, there is a growing argument that it may be more worthwhile acquiring a car which is just over one year old. These cars are available at a significantly lower price than pre-registered vehicles.

As you would expect, car manufacturers across the UK are up in arms about the report from Which although the figures themselves seem to tell the real story?

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details