To Scrap or Not to Scrap? That is the Question

Sep 24 2009
There is a rush on new car sales and the scrappage scheme seems to be working well in the UK. But buyers must be aware that the car finance deals offered by main car dealers for scrappage customers may not be feasible. A careful calculation reveals that dealers save their best car finance deals for cash-paying customers. A scrappage deal customer may end up wiping out the two thousand pound saving and paying a higher price for the car. To get the best car finance deals, you should look for options, like selling your used car on the open market and getting a discount on a new car. You can usually bargain down the price of a new car by two thousand pounds and also get good car finance deals.

Buying a year old or pre-registered car is also a feasible option that should be explored. There are some car manufacturers´ main dealers that do give good car finance deals under the scrappage scheme. That’s why Hyundai sales have shown a surge in August. You must do a careful calculation before opting for the scrappage scheme. There is no point in seeing the scrappage scheme money getting wiped out in paying higher interest on car finance deals offered by main stream dealers.

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