Last chance saloon: cash in your banger before it's too late
Over a fifth of people owning cars aged 10 years or more said they were thinking about using the Car Scrappage Scheme to buy a new motor - but time is running out for those yet to make a decision, according to the AA.
The scheme is due to end on 31st March or when the money runs out, but there are now fewer than 24,000 scrappage registrations remaining.
AA Financial Services surveyed 13,489 members with 4 per cent suggesting they were taking advantage of the scheme, while 22% said they were thinking about using it. Another 4 per cent had already culled their ageing car for a new one.
Mark Huggins, director of AA Financial Services says: "Although there's not much time left, now is a perfect time to trade in. Under the 'bangers for cash' scheme it's worth £2,000 - but when the scheme ends, which could be before the end of the month, its value will simply be what you can barter on the forecourt and the chances are it could up at the breaker's yard in exchange for just a few pounds."
The scrappage scheme was introduced in April 2009 since when over 376,000 cars 10 years old or more have been scrapped in favour of new, more efficient and greener cars. It has also provided a welcome boost for the motor industry.