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Understanding the Car Scrappage Scheme
February 4, 2012 by benjamingonzalez
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The main one silver lining about the credit crisis cloud is the fact that for individuals who can afford it, there's never been an improved time for you to obtain a car. Prices are already being slashed by motor manufacturers and the Government has recently introduced a car scrappage scheme in conjunction with the UK motor industry making them much more affordable.
The scheme will allow a discount of £2,000 from the price of a fresh car when the buyer can be scrapping a car which is at least ten years old. However, it isn't quite so simple with there being other conditions that must be met to in order to entitled to the scrappage scheme benefit.
First the vehicle that you simply intend buying must be:
a car or small van not exceeding 3.5 tonnes in weight
first registered on or after 18 May 2009 and built to British specification
brand new i.e. have no former keepers
Secondly the car that you're considering trading-in must:
be registered inside your name in the DVLA (Driver Vehicle Licensing Agency) and also have been so for around Twelve months before the new vehicle's order date
be registered to some UK address on or before 31 August 1999
have an existing MOT certificate dated before the order of the new vehicle
Obviously, however tempting it might be to change your car from a classic banger, something to consider is that comprehensive car insurance may very well be more costly. So, if you're planning on using the Government's car scrappage scheme then it is essential that you compare car insurance quotes first, otherwise you may be set for a surprise with regards to paying your premiums!
Even though the majority of factors that affect the setting of the premium involve the driver and in which the car is to kept, you will find others that report towards the vehicle itself, especially its value. The greater expensive the vehicle then a higher priced it would be to change, therefore the higher the opportunity financial loss for the insurance company should there be an insurance claim. And that will must be covered by a greater premium.
To find the quickest and often best car insurance quotes it may be a thought to compare car insurance quotes [http://www.lloydstsbcompare.com/car_insurance_lloyds.aspx] from a comparison website, but makes it trusted and award-winning. Make sure that you don't just ask your existing insurer to upgrade, but alternatively obtain as much quote comparisons that you can. In the end, there is little change part of taking advantage of the brand new discount scheme should you then get a new car where you might be paying too much for insurance.