Scrappage scheme extension is good news for car loans
The end date for government’s Scrappage scheme has been put back a month to the 31st March 2010. Good news for anyone buying a car (especially those with a less than perfect financial history), the Scrappage scheme offers upwards of £2000 towards a now car when you trade in your 10 yrs+ banger. In a bid to secure your business, manufacturers are doing their bit to lure you in with tempting deals on certain models.
Take Ford; if you’re in the market for a people carrier, or you could be persuaded to be, they’ll lop £5000 off the price of a Galaxy Edge. Volkswagen have taken over £4000 off all Passats, Citroen are being highly competitive with nearly £8000 off Xsara Picassos and Volvo aren’t far behind that figure with close to £7000 off the XC90 SUV. Mitsubishi have come up with a unique offer; they’re offering a standard Scrappage deal on all cars up to five years old.
So, if buying a car means borrowing money to do so, it’s easier to get a loan at good rate, even if you have bad credit, when the amount you’re borrowing is less. Or, it means you can buy a better car; safer, more efficient or bigger – whatever your idea of better is!
With the end of March fast approaching, every vehicle manufacturer is going all out to capitalise on the Scrappage scheme, buyers are being offered even more in a bid to boost the flaccid car market. It might be all doom and gloom in the news, but for buyers, it’s looking rosy for another few weeks still with money off coming from the government and manufacturers.
Find out more about car loans.
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