Ford, Vauxhall and VW signal that they'll play ball by offering discounts to bolster scheme.
It’s a little over a week since the Chancellor, Alastair Darling, announced that the Government’s cash for scrap scheme would go ahead. The scheme depends on major car makers pitching in with a £1000 discount, matching the amount the govt will contribute.
So far, Ford, BMW, Citrn, Hyundai, Kia, Mercedes, Mini, Nissan, Renault, Ssangyong, Toyota, Volkswagen, Volvo and Fiat have each said they will to sign up to the scheme, meaning that they intend to offer it on every car in their ranges. The scheme applies to private buyers and only if you buy a new car (nearly-new and pre-registered vehicles are excluded) and you have a car to part-exchange that is at least 10 years old.
Ford’s, Vauxhall’s and Volkswagen’s involvement is highly significant because they are the UK’s top three car brands, selling more new cars than any others. Ford is offering additional discounts on older models, ranging from £1250 on a Fusion to £3000 on a Ranger, although critics have pointed out that they and Vauxhall increased list prices steeply across their ranges earlier in the year.
BMW is also promising additional discounts, although not on every model, notably the strong-selling Mini. Fiat’s involvement, meanwhile, trims the price of its cheapest car, the Panda (pictured), to a fiver short of £5000, while Kia’s city car, the Picanto, can be yours for a little over £4000. If you give a £1000 cash deposit and borrow the balance from Kia, repayments cost just £10 a week.
Click here for the motors.co.uk scrappage scheme Q&A.