Motorists face last chance to bin a banger
By myfinances.co.uk staff
Drivers have been reminded that time is running out if they want to take advantage of the government's car scrappage scheme.
A poll of 13,489 AA members by the company's financial services division found that 22 per cent of these motorists are thinking about trading in their old car under the initiative.
However, the firm noted that the scrappage scheme will end on March 31st or when the subsidies run out.
According to the Department of Business, Innovation and Skills (BIS), there were 24,000 registrations left for the programme as of March 2nd.
AA Financial services director Mark Huggins said now could be an ideal time to trade in an old car, as under the "bangers for cash" scheme, it could be worth around £2,000. After the end of March, however, the chances are it will end in a breaker's yard for "just a few pounds".
BIS announced last month that 37 manufacturers are signed up to the final phase of the car scrappage scheme. They include Ford, BMW, Toyota, Vauxhall, Peugeot and Renault.
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