Cash for Clunkers scheme stops March

The Government confirmed today it has added an extra month to the deadline for its vehicle “Scrappage Scheme”.

Previously due to complete in February, the Scheme, which is jointly run by the Government and car manufacturers, will now run until the end of March or until the money runs out, whichever is the sooner.

By 24th January 330,722 new vehicle orders were taken under the Scrappage Scheme since it was announced in the Budget in April 2009.

The age qualification for cars was changed by 6 months to extend the benefits to cars registered on or before 29 Feb 2000 (V registration).

The £2,000 grant is made up of £1,000 from government with matched funding from vehicle manufacturers. It applies to commercial vans (up to 3.5 tonnes) as well as cars.

Find out more about the scheme here.

In the final stages of the Scrappage Scheme manufacturers will be apportioned order quotas to aid an orderly close down.

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