Jump to content
House Price Crash Forum

Recommended Posts

I am delighted that my rusty L reg polo has gone up in value by £1400 from what I paid for it 18 months ago! ;) We use it as a run around and will probably use the scrappage scheme to get £2k of a cheap to run small fuel efficient new car.

My K reg Citroen has NO rust at all. Does 50 mpg. Has 124000 on the clock. Should be OK for 200000, at least. Paid £500 6 years back. Probably worth £500 now.

Sorry Gordon, you pr1ck. I will not be buying another car.

Link to post
Share on other sites
  • Replies 100
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

Is the biggest effect going to be to increase the value of old bangers. I'm not sure of the details, but would it be possible to buy an old banger just to get a discount off a new car? Would a car worth, say, £200, suddenly become worth £1000 as a transferable 'voucher' worth for £2000 off a new car.

Also, I agree that people like me who habitually run old cars are not very likely to buy brand new ones.

A lot of new cars are being discounted anyway, sometimes by more that £2000. If the scrappage scheme is based on new car list prices, then there's no benefit to the buyer.

However, if the scheme works and becomes popular, there are a lot of roadworthy preserved classic cars that are worth less than £2000. Will there be a new wave of Morris Minors, proper VW Beetles and old Land Rovers heading to the scrapyards? When France had a scrappage scheme some years ago it cleared the roads of the ubiquitous Citroen 2CV's and Renault 4's very quickly - which was probably a good thing!

Edited by blankster
Link to post
Share on other sites
Snoflux, maybe, but you are only talking about dividing up the £1000...

If the current owner has a car that has been MOT'd and run for the last 12 months it could still be worth a minimum to £3-400 to someone.

That only leaves a max £600 benefit to split between the current owner, the buyer and the intro website. Plus the hardest thing will be valuing the old car....

Sounds like a lot of work for £200 each maximum.

I have bought a 10 year old Fiesta for my son for £800 4 months ago.. It is bullet proof, he is 18 and I can insure it 3rd party and he can bash it about all he likes.

In that scenario, it leaves £200 to divide by 3 parties.... The Govt are the only winners

Fair enough. On looking at the small print, it does seem that the scheme is a lot less generous than the German version, and it is just the government trying to be seen to do something. It'll be interesting (in an unavoidable car-crash sort of way) to see how it turns out.

Link to post
Share on other sites

The thing is, everyone is refering to "£2000 off a £14,000" which means it's not a very good deal.

Chevrolet matiz, list Price, £6315.

Kia picanto, £6195

With £2000 scrappage discount, £4315/£4195

4 grand for a new car with 3 years warranty.

Most people could slap that on their credit card.

Edited by TaxAbuserOfTheWeek
Link to post
Share on other sites
Auction prices have been strengthening all year,many cars are up 15-20% since January.Yesterday however there was a turning of the tide,or at least the beginning of it.My regular auction had the car park half empty.I bought a 2006 Zafira for exactly the same as I paid three weeks ago,same car,colour everything.BUT the first car had 43k on the clock,this one has 24k. In theory it should have been £675 more.

I'm gutted. been forced into buying a car due to the old one dying completely and I know I'm buying at the peak. Grrrr..

Link to post
Share on other sites

Not sure I am being stupid here but surely really old sh*te cars that you can currently get at auction for a few quid are suddenly worth a lot more.

I mean if you are going to buy a new car surely you will just go and buy a pile of old junk for GBP50 or so and trade that in. :huh::huh: This leaves you free to sell the existing motor.

Link to post
Share on other sites

The problem is very old cars eat cash if you can't repair them yourself. The cost of garages these days is at least 40.00 per hour and parts tend to be very expensive. Average service costs of an older car could be as much as £900.00 per year.

So that banger might sound like a great deal but cost in the repairs....and you might think otherwise.

Cars in general are money pits but essential for daily life these days. I just paid over £60.00 for a couple of wiper blade motors.....and I'm fitting them myself add £40.00 if you were to get this done at a garage.

I like to buy cars just over 3 years old. Buy low mileage and clean........its the best approach. You can buy a mint 20,000 car for as little as 8k if its been run in. With just 30,000 miles on the clock you have at least 30,000 before you start making major repairs.

Link to post
Share on other sites
The thing is, everyone is refering to "£2000 off a £14,000" which means it's not a very good deal.

Chevrolet matiz, list Price, £6315.

Kia picanto, £6195

With £2000 scrappage discount, £4315/£4195

4 grand for a new car with 3 years warranty.

Most people could slap that on their credit card.

Quick Google and the link below shows you can get around £1000 off a Matiz without the scheme

http://www.carquake.co.uk/default.asp?docI...lBodyType=27736

So, as mentioned earlier the scheme is worth £1000 so the £200 banger that has to be OWNED and MOT'd and TAXED by the potential buyer for at least 12 MONTHS to become worth £1000.

Anything that is a runner will fetch £4-500 minimum so you might get £500 benifit. The Matiz for example would only be worth £4000 as soon as you drive it off the forecourt...

Stick with the banger to be honest!!

Govt money making scheme, and thats it...

Edited by buster2koo
Link to post
Share on other sites

Has Liar Mandelslime published the small print on this yet?

From the net all I can pick up is that it is £1000 ex govt, £1000 ex manufacturere (whatever that means!), £300m total govt. budget, you must have been reg. keeper for 12 mnths, you must be the first reg. keeper on the new vehicle, and that it will be available from around mid-May from participating manufacturers..

This latter bit is interesting. I can't find anything yet saying who the participating manufacturers are nor what happens to people who are due to take delivery of a new car between now and mid-May. Presumably if they are part-exing a vehicle over 10 years old, they may want to cancel their order if it isn't with a participating manufacturer or if it means they will miss out on the £1000. Typical half-ar5ed labour nonsense.

Link to post
Share on other sites
Can someone clarify exactly what is the qualifying age for this scheme. My car was registered in Mar 2000, does it qualify?

Hi In a word NO!

We also have a March 2000 registered car - I believe that there is a cut off date of 31 July 1999 so a March 2000 car will not even qualify at the end of the scheme in March 2010.

M21er

Edited by M21er
Link to post
Share on other sites
Can someone clarify exactly what is the qualifying age for this scheme. My car was registered in Mar 2000, does it qualify?

FULL DETAILS ON HOW THE SCHEME WILL OPERATE:

1. The £2000 grant is made up of £1000 from government with matched funding from industry. The scheme will operate from mid-May until March 2010 or until the government funding has been used.

(I believe this is £300,000 so 300,000 vehicles - But only 95% sure that is the figure)

2. It applies to commercial vans (up to 3.5 tonnes) as well as cars that are 10 years old or older.

3. The scheme is a voluntary scheme so not all manufacturers or dealers may participate.

4. How to apply

The dealers will do all the paperwork for motorists participating in the scheme and arrange for the old vehicle to be scrapped. The dealer will check that the vehicle being traded in and the new one being bought qualify under the scheme:-

OLD VEHICLE

Passenger car or small van up to 3.5 tonnes

First registered in United Kingdom on or before 31 July 1999

Currently registered with DVLA to the registered keeper making the application, or currently on Statutory Off Road Notification (SORN)

Current MOT test certificate

Registered Keeper must have a UK address

The registered keeper has been the registered keeper of the vehicle continuously for the preceding 12 calendar months before the order date of the new vehicle

NEW VEHICLE

Passenger car or small van up to 3.5 tonnes

First registered in the UK or after the date the scrappage scheme is launched and declared new at first registration in the UK with no former keepers

UK specification vehicle

Registered to the same registered keeper as the registered keeper of the eligible vehicle to be scrapped

Edited by buster2koo
Link to post
Share on other sites
Has Liar Mandelslime published the small print on this yet?

From the net all I can pick up is that it is £1000 ex govt, £1000 ex manufacturere (whatever that means!), £300m total govt. budget, you must have been reg. keeper for 12 mnths, you must be the first reg. keeper on the new vehicle, and that it will be available from around mid-May from participating manufacturers..

This latter bit is interesting. I can't find anything yet saying who the participating manufacturers are nor what happens to people who are due to take delivery of a new car between now and mid-May. Presumably if they are part-exing a vehicle over 10 years old, they may want to cancel their order if it isn't with a participating manufacturer or if it means they will miss out on the £1000. Typical half-ar5ed labour nonsense.

And, when that buyer returns to the dealer, waving a newspaper for another £1k off, the dealer will inform them that the car is "already discounted heavily sir".

And then go on to remind them that they have paid the deposit and its not refundable as "we've ordered the car for YOU sir".

Link to post
Share on other sites

This is hilarious guys! If being on house price crash didn't show how many of us are strange nerdy hermit types - this thread damn well does!

Come on - old bangers and never driving a new car?! You are an extreme minority! Ok your points are valid for you but look at the vast numbers who buy on hire purchase type agreements and get shafted, look at the people forking out for 'fashion cars' - these people are there to be wooed by schemes like this and your arguements will never even enter their heads.

Link to post
Share on other sites
This is hilarious guys! If being on house price crash didn't show how many of us are strange nerdy hermit types - this thread damn well does!

Come on - old bangers and never driving a new car?! You are an extreme minority! Ok your points are valid for you but look at the vast numbers who buy on hire purchase type agreements and get shafted, look at the people forking out for 'fashion cars' - these people are there to be wooed by schemes like this and your arguements will never even enter their heads.

these people are there to be wooed by schemes like this

I think you mean.........'these w4nkers are there to be wooed by schemes like this'......??

Link to post
Share on other sites
Come on - old bangers and never driving a new car?! You are an extreme minority! Ok your points are valid for you but look at the vast numbers who buy on hire purchase type agreements and get shafted, look at the people forking out for 'fashion cars' - these people are there to be wooed by schemes like this and your arguements will never even enter their heads.

I agree but don't worry. Apart from the HPCer special population most people who drive a 10 year old car, like me, drive one because they cant afford/justify/prioritise the spend. A new car with 2Gs off is still inappropriate for 90 percent of that population. I don't think there'll be many takers outside of the scammers.

Link to post
Share on other sites

I drive an old Passat estate from 1999. It won't be traded in as it is too useful. Plus I love not giving an inch to sports cars, 4wd or anything else on the road. Well worth crawling up a hill for the look on the porsche boxster driver's face the moment he tries to get ahead in the queue and I just keep not letting him in.

Link to post
Share on other sites
This is hilarious guys! If being on house price crash didn't show how many of us are strange nerdy hermit types - this thread damn well does!

Come on - old bangers and never driving a new car?! You are an extreme minority!

:lol::lol: old bangers are great! You'd love to drive one, really good for street cred ;) if you want to buy my car I'll sell you it for 2k... its a diahatsu move 'plus' - the plus means you get electric windows (front only) and a transfer sticker on the side beside the petrol cap (partially ripped off by the kids' all in good working order, MOT to Feb next year? What u say? ;) oh......... 950 cc i think - but it 'moves' really quick (or maybe it just feels like that?)

Link to post
Share on other sites
I just spoke to an old colleague back in the UK at a new/used car dealer and he tells me that used car prices are starting to genuinely rise at the auctions now. It seems that the lack of new car buyers and their part exchanges is having an affect on the market.

Same in the mid 90's! Good secondhand cars were rather expensive.

Link to post
Share on other sites
I don't know if it has been mentioned before, but this is the basic economics of yesterdays announcement...

The Government £1000 is funded by the you buyer....

This is why the scheme only applies to new cars because all new cars have to attract VAT. Therefore if you buy a new car at £7500 there is £979 VAT due to HMRC.

Very good point! They ain't giving much away really, are they!

Link to post
Share on other sites
I drive an old Passat estate from 1999. It won't be traded in as it is too useful. Plus I love not giving an inch to sports cars, 4wd or anything else on the road. Well worth crawling up a hill for the look on the porsche boxster driver's face the moment he tries to get ahead in the queue and I just keep not letting him in.

Good man! I hate these ar$eholes who push in queues or nip off left to speed up slip roads and re-join the jam a hundred yards in front. Just slows everyone else down and that's why they're doing it half the time because of to55ers like themselves. Not that they have the brains to work that out but there ya go.

TFH

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.