Volkswagen Scrappage Scheme Launched, Offers Big Savings

Volkswagen Scrappage Scheme Launched, Offers Big Savings

Owners are able to trade in the vehicle to benefit from incentives - ranging from £1,800 to £6,000 - against the majority of new models if the new auto is ordered by December 31, 2017.

Some examples of how much the "grant" would be worth include: €1,000 if buying a new Volkswagen up!, €1,750 against a new Polo, €3,000 against a Golf and €4,000 for a Passat buyer.

VW also says that larger discounts were available for the purchase of electric and hybrid models because they could be combined with existing Government grant offers.

The scheme is open to both petrol and diesel vehicles until the end of the year, and can save motorists between £1,500 and £5,000 on a new Hyundai. Toyota's offer Is £4,000 off for models over seven years old. According to the research by auto buying website Carwow, around a third of people (34 per cent) back the idea of a scrappage scheme.

A tougher emissions regime for newly launched cars came into force this week across the EU. An Auris Hybrid qualifies for savings of £3,500, while customers will be offered savings of £2,500 off the price of a new Yaris Hybrid.

Hyundai has said that all Euro 1-3 cars they receive will be scrapped, while owners of Euro 4 models will be able to simply trade them in without having to commit their vehicle to being destroyed.

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Hilton also suggested that the way forward is not through individual schemes operated by each manufacturer but through a more formalised approach. This will definitely be cars built no later than 2010, although some cars had Euro 5 specification engines earlier than this. Kia has committed to scrapping all of the cars it receives through the scheme, rather than selling them on.

However, unlike incentive schemes from BMW or Mercedes, it is the first to promise that the older diesel vehicles traded in will be taken off the road and scrapped. These were in place prior to September 2009, but subsequently, more stringent Euro 5 standards were enforced, meaning people pay less to run a more eco-friendly auto.

The vehicle must be registered to the current owner for at least six months to be eligible.

Meanwhile, the marque's plug-in hybrid and fully electric models are leading players in the EV world.

Customers will still benefit from Renault's generous customer offers of either 4.9 per cent April (for PCP deals) or 0 per cent April (hire purchase) along with two years' free servicing on cars. The scheme runs from September 1 to December 31.

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