30-09-2014, 04:17 PM
(This post was last modified: 30-09-2014, 04:18 PM by powerandtorque.)
You're ignoring finance / PCP etc in that argument though Tom, and that's what I suspect many of the car purchased through the scrappage scheme were purchased on.
No, many people can't afford £8k outright for a new basic car, but they can usually afford £100 a month which is what you can get a basic city runabout like a 107 for. I'd suggest that's how the majority of new privately owned cars are bought these days, with people often doing little more than leasing a car for 3 years and replacing it with another that they'll lease for 3 years.
The rules of the scheme meant that it didn't actually matter if the car ran, only that it was MOT'd and that you'd owned it for a minimum period (2 years IIRC). My neighbour took advantage of it when his 307 lunched its engine, taking £2k for it as a trade in when it was pretty much worthless and bought a new Nissan that they paid via monthly finance.
No, many people can't afford £8k outright for a new basic car, but they can usually afford £100 a month which is what you can get a basic city runabout like a 107 for. I'd suggest that's how the majority of new privately owned cars are bought these days, with people often doing little more than leasing a car for 3 years and replacing it with another that they'll lease for 3 years.
The rules of the scheme meant that it didn't actually matter if the car ran, only that it was MOT'd and that you'd owned it for a minimum period (2 years IIRC). My neighbour took advantage of it when his 307 lunched its engine, taking £2k for it as a trade in when it was pretty much worthless and bought a new Nissan that they paid via monthly finance.
1990 Peugeot 205 GTi 1.9 // 1991 Peugeot 205 GTi 1.9 16v // 1992 Peugeot 205 GTi 1.9 // 1999 Peugeot 306 HDi Estate