The government has announced that it is to extend its car scrappage scheme by an additional 100,000 cars and vans – good news for anyone looking to trade in their old vehicle.
The National Franchised Dealers Association (NFDA) noted Lord Mandelson’s decision to increase the number of vehicles eligible under the scheme will help provide a boost to the automotive and car insurance sectors in the UK, as newer cars are more expensive both to purchase and insure.
Paul Williams, chairman of NDFA, commented: “The extension of the vehicle scrappage scheme by the government is a victory for common sense over dogma.”
However, Alistair Jeff, director of Carsite.co.uk, recently noted it is becoming more difficult for young motorists to find affordable vehicles due to many of these cars being traded in for newer models.
Mr Jeff stated this reduction in availability is artificially boosting the value of those older vehicles that are left on the market.
