Thank you Mr Darling!

[markmifsud]

doesnt this just mean the dealers will offer much less discount up front, and then let you claim 1k +1k ? off shoot is they sell the car for MOE than if the sceme had not been in place

 

[bigyin1]

This "offer" isn't applicable to certain "green" cars which is a bit wierd as you'd have thought those are the ones the government would want us in to stop all this global warming that we're doing driving cars of such an age. Won't be long before they tax us walking to work...

 

[wemorgan]

Won't be long before they tax us walking to work...

Work!...........you mean you have a job still!!???

 

[Bill_33]

Thank you Mr Darling - you pillock

8 and 9 year old cars worth less than 10, 12 year old cars?

It's not green at all - the "green cost" of producing a new vehicle is far higher than keeping the old.

The people who buy new cars usually have a 2, 3 4 or 5 year old car to trade in.

Fleet buyer buy a big proportion of new cars - they will have no 10 year old bangers to trade in

There are enough cars in this country to keep us going for ever

Most of the cars bought in the UK are imports

Helping the "less well off" to get into more debt

Why don't they apply it to washing machines and fridges?

crazy scheme - has no merit whatsoever

Gordon Darling and Alistair Brown are f........ing clueless

Remember they are giving YOUR money away

 

[robert.saunders]

I wonder how tight the cashback scrutiny will be also. Thinking groups of car dealerships selling the same nearly new cars to each other round in circles and getting £2k cash back each tiime, like the VAT scam.

That's what we're currently discussing in the office; very busy we are

 

[Spinal]

I guess it has its pros and cons...

People like me that recently bought an old banger (well, almost a year ago) will be able (or closer to being able) to buy a newer car... unfortunately, I don't intent on buying a newer car as the car I bought was/is intended for a rally and will end up being donated...

At the same time, the car industry will benefit as people will buy more new cars, and the people will benefit (some at least) in lower road taxes. (and the people like me who support some of the eco-nuts will be a bit happier)

The downside? We will all be paying higher taxes to support the scheme, emissions won't really go down, unless those new cars are kept for quite a while the overall impact on the enviroment will be even worse, and there will be an artificial barrier to entry for car buyers...

Banger rallies like the Plymouth-Timbuktu will have a hard time... the £100 limit for the car becomes unrealistic, and we incur the high-school economics issues of setting an artificial minimum price in a market where supply is already far more than demand...

Ah... time to get a motorbike methinks

I wonder if this applies to ANY vehicle... what happens if I build my own car for dead cheap (pedal powered?), can I scrap it and claim my £2k to buy a new car?

 

[crammy69]

As has been said, at best this will cut a £1000 of the cost of a new car. Who does this help? not the poorer in Uk thats for sure. Looks cynical and in very poor taste, "sorry your losing your job/home/security, but at least someone is going to get a cheaper car".

Surely if the government wanted to support the UK car industry they could have spent another 5 minutes thinking of something a little better? rather than filling out their expenses claims. Yes it will support those workers selling new cars, but how about those souls employed selling and servicing 2nd hand cars? do they not pay taxes? are they not equally as deserving?.

Rant over.

 

[kjay]

8 and 9 year old cars worth less than 10, 12 year old cars?

It's not green at all - the "green cost" of producing a new vehicle is far higher than keeping the old.

The people who buy new cars usually have a 2, 3 4 or 5 year old car to trade in.

Fleet buyer buy a big proportion of new cars - they will have no 10 year old bangers to trade in

There are enough cars in this country to keep us going for ever

Most of the cars bought in the UK are imports

Why don't they apply it to washing machines and fridges?

crazy scheme - has no merit whatsoever

Gordon Darling and Alistair Brown are f........ing clueless

Remember they are giving YOUR money away

Totaly agree with you!!

May as well pay people to dig holes, then pay others to fill them in again. Then..tax them more to pay the money back.

.

 

[crammy69]

Just been reading the Autocar site and one good point is that this will have a knock on effect to 2nd hand residuals for nealy new cars such as the Mini which have been hard to get much discounts on. Clearly if BMW sells is Mini at £2000 off then the 6month -1 year old ones will likely drop by a similar amount? Of course, as said, the move will potentially underpin the 10+ years car values, but the if the Knock on effect from top down works, then is may well help more than just those that can afford a new car. Law of unintended consequeses, more asset price deflation (cars), which I thought they were trying to avoid..

 

[Bill_33]

The amount of debt that the Government is "piling up" is just disgraceful, a few further points on the car scheme:

It will just add to this debt - if it works
What difference will it make if it does work - just a scratch
You can only guess what the taxes INCREASES, for years, will be to pay for all this borrowing.........the largest ever ....will approach 75% of GDP, (at that is if you take the government estimates - which are really based on hope).

It all seems out of control to me.........if you read most of the budget reports and comments......it is very worrying...particularly when in the hands of "politicians" of any colour

 

[crammy69]

Another thing!, What about pre-registered cars? I guess these effectively new cars wont count?

 

[Dryce]

...particularly when in the hands of "politicians" of any colour

Gordon Brown took this to a whole new level after he became chancellor.

So don't taint the rest of the house with the same level of toxicity.

 

[Dryce]

Another thing!, What about pre-registered cars? I guess these effectively new cars wont count?

Probably not.

But if this had a big effect on the market then the number of new sales would reduce the number of pre-regs.

However I think that this will actually work slightly in favour of pre-regs because the manufacturers will load new cars with the extra 1K to pay for their share of the scrappage trade-in. They won't face that overhead on pre-regs. And for some people a new car must be a *new* car and not a pre-reg.

Question is - how much will new car be discounted if you're doing the scrappage trade in compared with a non-scrappage trade-in or no trade-in?

 

[grober]

Gordon Darling and Alistair Brown are f........ing clueless

I totally agree. What we need are people experienced in shrewd investment and familiar with dealing with large sums entrusted to them by the general public. People with the right attitude, responsible people, people with our interests at heart, people our money would be safe with.

People like -----BANKERS------ hang on a minute!!!