16 Mar 2018
The drive towards a cleaner environment and benefits of recycling has made the scrapping of old cars more desirable. There are a lot of scrap yards in the UK that makes giving up your old car a lot easier. Choosing to scrap your old car helps you meet your financial and sustainability goal. As a car owner, you will get some pay from the sale of your old car and it is effectively shredded and recycled without posing any threat to the environment.
Car manufacturers have noticed the importance of scrapping old cars and are now launching trade-in schemes. The idea behind these programs is to encourage UK car owners to give in their old and polluting vehicles as a part exchange for new ones. In most cases, car owners will have to pay the difference in value for the new car.
The increased levy for diesel car owners was one of the factors that inspired car manufactures to introduce a trade-in initiative. Volkswagen and Toyota announced their diesel scrappage scheme. Theirs is as a result of the development within the diesel automobile sector. Diesel vehicles who fail to meet the current emission standards are likely to face a tax increase. All diesel vehicles which fail to meet the Real Driving Emissions Step 2 standards on emission in the first year of ownership will be liable. Other manufacturers that have also launched similar schemes include Ford, BMW, Hyundai, Vauxhall and Mercedes Benz.
There are certain requirements that have to be met before the manufacturer accepts the trade-in vehicles. It has to be a brand registered before 2010 as a lot of the diesel vehicles during that period are likely to fall short of the emission test. Renault and KIA are believed to be offering about £2000 off new models when old cars are traded-in. Nissan on the other hand, is encouraging customers to buy their all-electric Leaf model by offering a £2000 incentive when an old car is traded in or part exchanged. Nissan has branded its scheme as ‘switch.’ Volkswagen is prepared to offer up to £6000 discount on new car models when old diesel vehicles are handed in. Interestingly, Toyota’s scheme is for vehicles that are up to 7 years old and are prepared to offer up to £4,000 discount on newer models. To be more specific, Toyota is offering customers a discount of £2000 for models such as Prius, Hilux and Aygo. They are prepared to offer up to £4000 discount on the Land Cruiser.
This clearly indicates car manufacturers are taking environmental pollution seriously and are seeking ways to reduce the number of diesel vehicles with high emission tendency. Leading manufacturers are designing trade-in schemes that meet financial and sustainability goals. It is important to note that a good number of these companies are encouraging the sale of their newer models with these switch programs or initiative. Nonetheless, the discount for these new car models might still leave car owners paying quite a bit for these but it is great to acknowledge the scrappage schemes.