TFS Guarantor Loans - TFS Logo

39.9% on loans from £3,000 to £10,000, until 31st July 2018.

Terms and conditions apply. Click here for details.

39.9% APR Representative.

News and Blog

Car Scrappage Schemes – How They Work And The Best Deals

by Steve Lee / October 20th, 2017

 

Car Scrappage Schemes – How They Work And The Best DealsCar Scrappage schemes are designed to encourage drivers who have an older vehicle which emits a high amount of pollutants into the atmosphere, to be financially incentivised to swap it for a newer, cleaner vehicle. In other words if you are driving around in a car that is older than 2009 and is categorised as Euro 4 emissions standards or worse, you may find you get an additional discount when you buy a new model.

 

 

Car Scrappage schemes are becoming increasingly popular with more and more car manufacturers offering discounts off new models.  Ford, BMW, Alfa Romeo, Toyota, Seat, VW, Fiat and Kia are all offering deals on certain models of car. The Telegraph regularly updates its gallery of which cars are offered on a scrappage scheme here: http://www.telegraph.co.uk/cars/advice/revealed-15-best-cars-buy-new-scrappage-schemes/bmw-7-series/

Some people believe you can save up to £8,000, but the first thing you should do is look up how much discount the dealer would routinely offer off a new car if you haggled and then make sure the scrappage discount is greater than the combined new car discount and the value of your used car. If it isn’t, there may be room for more negotiation.

Examples of current schemes as at September 2017 are:

 

Volkswagen

  • Worth between £1,800 and £6,000.
  • Applies to any make of pre-2010 diesel vehicle owned by the customer at least six months.
  • Discount on any VW petrol or diesel car ordered by December 31, 2017, and registered by March 31, 2018.
  • Separate schemes available on VW-owned SEAT and Skoda. Its Audi brand has discounts of up to £8,000.

 

Ford

  • Worth between £2,000 and £7,000
  • Applies to any make of pre-2010 car or van, petrol or diesel, owned by customer at least 90 days
  • Discount on new Ford bought and registered by the end of 2017.

 

BMW

  • Worth £2,000 (on top of the trade-in value).
  • Applies to any make of Euro 4 or older diesel vehicle.
  • Discount on most BMW and MINI all-electric, hybrid or Euro 6 diesel and petrol cars, registered by December 31, 2017.

 

Toyota

  • Worth from £2,000 to £4,000, (replaces the trade-in value).
  • Applies to any make of car or van – petrol or diesel – more than seven years old and owned by customer at least six months.
  • Discount on most Toyota cars and vans ordered by end of the year.

 

Renault

  • Worth between £4,250 and £7,000.
  • Applies to any make of pre-2010 car or van, petrol or diesel owned by customer at least 90 days.
  • Excludes some new Renault models.
  • Initially just applicable during September.

 

Kia

  • Worth £2,000 (on top of trade-in value).
  • Applies to any car more than seven years old, petrol and diesel.
  • Discount on Picanto and Rio models registered by end of the year.

 

Hyundai

  • Worth between £1,500 and £5,000.
  • Applies to Euro 1 to Euro 4 (broadly 1992 to end of 2009) cars of any make, petrol or diesel owned by customer at least 90 days.
  • Discount on any new Hyundai registered by December 31, 2017.

 

 

TFS Loans are specialist Guarantor Loan lenders. We offer Guarantor Loans from £1,000 – £15,000 for a range of purposes including large purchases like cars, home improvements, weddings and other events, debt consolidation and for start-up/small businesses.

 

To Apply for a TFS Guarantor Loan please click below:

Apply now

Our representative APR is 48.9%

 

Back

Blog Categories

Recent Posts

Blog Archive

Stay Connected