Money for old rope? Not quite. Money for an old Datsun? Maybe...
Got a rusted up old banger clogging up your driveway, making you feel physically sick whenever you see it? You’d love an upgrade, but in the current climate, you just can’t stretch to the amount it would cost you for even a half-decent second hand motor.
You could be in luck. Government plans are afoot to introduce a ‘scrappage premium’ to be handed out to motorists who junk their old, eco-hating cars, with suggestions that the payout could be as much as £2,000.
Scrappage (it might not be a real word but we’re happy enough with it) schemes are growing in the EU, with seven countries actively running them – the Germans are the most generous, doling out £2,200 to anyone who gets rid of a car nine years or older.
The idea is that the premiums will encourage motorists to hit the showrooms and invest in new cars, stimulating the market, and helping to reverse sales figures that dropped by 31% last month.
We’ve got a virtually knackered 12-year old Rover 400 sitting here that you can have for £1,500 now if you fancy hedging your bets and trying to make a quick profit should the scrappage scheme be introduced. Don’t all rush at once will you?