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old for (nearly)/new

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Terranger:
Am I reading this right.
The government will pay £2000 to anyone willing to give up a nine year old (or older) vehicle.

So, what's to stop me for signing up to this scheme, taking the cash, lending from the bank, buying a new car, selling it on (adding a bit of profit) and pocketing the proceeds.

hmmm :-k :-k :-k

BigBlueBeast:
Seen this http://www.ukscrapscheme.co.uk/?gclid=CMWEoovy-pkCFQFHFQodl0xXGg  and it seems it is an incentive to buy NEW cars to help the "struggling car makers"

If it was £2000 for a car over 9 years, I would make a fortune!! lol!

Yoshi:
Well its cars over 10 years beginnning next month and ending in mar 2010 :D so me and bettyblue22 are going out car hunting tomorrow to see which one we would like!

Gordo:

--- Quote from: Terranger on April 18, 2009, 17:44:58 ---Am I reading this right.
The government will pay £2000 to anyone willing to give up a nine year old (or older) vehicle.

So, what's to stop me for signing up to this scheme, taking the cash, lending from the bank, buying a new car, selling it on (adding a bit of profit) and pocketing the proceeds.

hmmm :-k :-k :-k

--- End quote ---

In a word: Depreciation. Your brand new, showroom-fresh car will be worth a lot less the moment it hits the road.

...and if anyone's in the market for new car they'll be wanting a brand new one with the £2000 tax-payer subsidy, not your nearly-new, more expensive one.

Don't forget to take in to account the cost of your bank loan - borrowing from the bank isn't cheap at the moment.

This new scheme is a bit of theatre to keep the papers happy (The Sun was crowing about it today, I notice) and make people think of buying a new car. It isn't going to help employment much (few cars are British-built these days), increases pollution (I thought we were being told to be "green" :-k), reduces the value of used cars, kills the price of scrap metal etc...

What's the betting that road tax will go up to pay for it?  :evil:

muddyjames:

--- Quote from: KTM Gordo on April 22, 2009, 16:24:03 --- (The Sun was crowing about it today, I notice)

--- End quote ---

I thought you would be more of a Times man. Hmm.

Anyway. It all sounds great, but. Where is the masive catch. Also. Can you part ex in more than 1 car, say 3 of them? Also can you go and buy an old heap for £200 and get a new car? 4 of them and you have a new fiesta. (not that I would buy one after my courtesy car I gave back) but even so!

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