Government's Scrappage Scheme closes its doors on February 28
The Government's Scrappage Scheme closes its doors on February 28, 2010 – or when 400,000 vehicles have been consigned to the heap. Dealers are therefore exploiting new offers to snare last minute bargain hunters. These include substantial discounts and finance deposit contributions across a wide range of vehicles. So, what are the most enticing deals?
The Volvo XC90 is available with a combined scrappage and finance package. The XC90 D5 AWD Active has an on-the-road price of £31,620. However, the Scrappage Scheme contribution reduces this by £1,000, and Volvo then subtract their 'manufacturer scrappage contribution' of £6,133. This makes the XC90 £24,457 - assuming an £8,000 deposit plus thirty-six payments of £235.13 at 7.9% APR (typical).
Volkswagen also have notable offers on the Passat saloon, estate, and CC. The entire range is available with a combined Government scrappage and manufacturer discount of £4,250. The smaller Golf S also tempts bargain hunters with a combined discount of £3,250 - £3,950 depending whether you choose a petrol or diesel.
Mazda are keen to get in on the act by offering the Mazda 5 1.8-litre Takara on a personal contract purchase plan. The combined Government and manufacturer scrappage discount reduces the £18,345 on-the-road price to a more digestible £14,345. This offer comes with 0% deposit and thirty-six payments of £317.77 at 6.9% APR (typical).
The next few weeks clearly represent a golden opportunity to get a bargain. To qualify for the Scrappage Scheme old cars must have been registered on or before February 29, 2000, and vans must be at least eight years old.