Scrap cars are worth £2500

[RedexR]

A story in one of the papers that worries me - a government incentive to get old bangers off the road , they are planning to give people a scrap value for their old cars - £2500 , now we can pretty much guess what the result of this will be - all "condition 3" cars of any age will dissapear off the road overnight as a result of unscrupulous individuals cashing in , basically most restoration projects (any that are up and running or easily transportable) could be a thing of the past , not going to be a popular move with us old car enthusiasts is it ?

[AJAX50]

It'll be a mess. No car will be worth less than £2500, no car sales until the government get off the pot, like stamp duty. A new big business in broking between people with bangers who want a good second hand car and people with good secndhand cars (worth more than £2500) who want a new car.

[Coco H]

Daft.

I bought a Legacy GTB recently - it wasn't a huge amount of money but it is a P reg - so a much older car. yet it has a lot of value for us - a quick estate and a subaru. Those kind of cars inc 205GTis, old Golfs etc will disappear completely - no cheap learner cars either

What about cheap classics - Midget was about 2k and I bought an excellent P6 for £900 about 4 years ago.

[lowdrag]

I think you've probably got the wrong end of the stick here. In France they started this a year ago. The conditions are simple - you must buy a new car to qualify for the £2,500 and it is a condition of the government offer that the old car is scrapped. The car must also be at least 10 years old. Many people got the idea that they could take their old banger to the scrappie and get 1,000 euros but it ain't the case - it is only the main dealer who sells you the new car has the right to authorise the payment. So, as usual, it seems the british government is way behind and frantically copying other people's ideas.

[a8hex]

Well of course HMG are just copying ideas, they aren't actually capable of having any originals ones, lets face it.

I think it will still lead to a brokering business appearing. There are people who want to buy new cars. If they can get an extra £2500 discount by turning up at the dealer with an old car then there will be a market to supply the "old" car. It's just a question of how small a margin people are prepared to live with I guess.

[lowdrag]

I think you'll find that it's covered. The car must be roadworthy with a V5 and MOT and be registered in your name for you to get the offer. Here in France it is very strictly administered and spot checks are made. Yes, if someone is going out to buy a new car and hasn't got one to sell he can buy a rusty heap with MOT I suppose though, but most people who have a 10 year old banger have it because they don't have the means to buy a new car and people buying new cars usually have somthing to trade in. Incidentally, I've heard of several dealers here offering deals but refusing trade-ins. Similarly, Mercedes are doing all kinds of promotions. Last week the new C class estate CDI200 was on offer at 30,000€ and in the same paper someone trying to sell a 1 yr old saloon for 32,500€. He's screwed!