Take it from the poor give it too the rich.

Robert_Sterling_3

I have a car. It is 13 years old. After the budget it will be worth £2,000. Therefore I can't sell it for next to nothing to someone who is a bit hard up. Wot a Chiz.

For cars over nine years old you get a certificate of destruction and £2,000 at a special centre and then use the voucher towards buying a new or one year old car.

Work out for yourself some of the consequences of this scheme.

Cheap government car purchase loans are in the offing. This will allow more people to go deeper into debt before going bankrupt.

Joe_Bloggs

I don't have a car. I did find a link here that mentions the proposal and the existing widespread use of similar measures in Europe.
J_B.

evenasus

So the government want people with older cars to buy new ones and get into debt?

I'm lost for words!

sheslookinhot

Who wil benefit here ? Yes, the motor industry. That is the European and Japanese motor industry and a few lucky dealerships in the UK.

Not the taxpayer, who will end up funding this feast.

PasturesNew

In my opinion, people driving older cars aren't the sort of people who would ever buy a new car... they'd have been buying 4-6 year old cars and keeping them for 2-4 years before buying the next one.

I can't see this working for most people, it'd be used by people who WOULD have bought new cars to get one on the cheap. Simply buy a wreck out of the paper, cash it in, get the new car at a discount. Something the original owner of the wreck wouldn't have been in a position to do because they're not the "new car buying" sort.

bristolleedsfan

sheslookinhot wrote: »

Who wil benefit here ? Yes, the motor industry. That is the European and Japanese motor industry and a few lucky dealerships in the UK.

Not the taxpayer, who will end up funding this feast.

Those who get tempted to buy a new car will lose the 2000.00 the minute they drive off in it in instant depreciation. :rotfl:

manic_saver

This thread is probably in the wrong forum.

Any way, i don't have a car, but it does seem ridiculous that the government are giving hand outs just for more people to get themselves in debt.

I think what the government are trying to do is jump start the car industry (see what i did there :rolleyes:), which would mean no job losses. Looks good for the people that work in the industry as they get to keep there jobs....looks good for the government as there figures will show no rise in unemployment.

But the losers in this game, will be the people that buy that new car.

Reaper

I can see the logic and it has worked for France and Germany. However you have to remember they have big locally owned car industries. All we have are foreign owned ones. In the good times they creamed off the profits now in the bad times the parent companies ought to be stumping up the cash to keep them going rather than the taxpayer. Loans are one thing, gifts are another.

Robert_Sterling_3

manic_saver wrote: »

This thread is probably in the wrong forum.

I was in a hurry and I could not think where else I could park it.

Nomad25

I was in a hurry and I could not think where else I could park it.

:rotfl: that made me feel better.

evenasus

Robert_Sterling wrote: »

I was in a hurry and I could not think where else I could park it.

:T Very good!