Clock is ticking on scrappage discounts

Time is running out if you want to take advantage of the UK car scrappage scheme.

Business secretary Lord Mandelson revealed on Wednesday that the initiative has entered its final stages with the last remaining funds divided between manufacturers.

The scrappage scheme combines a £1,000 bonus from the government with £1,000 from car manufacturers to give owners of cars 10 years or older £2,000 off a new vehicle.