During the 2009 Budget Announcement it has been confirmed that customers buying a new vehicle will be given a £2000 discount if they are replacing for scrap a vehicle that is more than 10 years old.
The vehicle being replaced must be more than 10 years old, have a current MOT and the customer must have owned the vehicle for at least 1 year.
The Scheme will start in May 2009 and will last until March 2010 or until the budget set aside for this scheme has run out.
The Goverment has set aside a budget of £300 million for this scheme with participating manufacturers matching the funding.
The decision was made in the hope of giving the car industry a boost during the current downturn and encourage the replacement of ageing vehicles for newer models with lower emissions.
Many of the details are still to be confirmed, such as the exact start date, definition of vehicle and if there will be maximum levels of emissions from the new vehicle.
