Buying cars...

Omagh, Northern Ireland
April 21, 2009 7:42am CST
This recession has hit car Makers..(And most everybody else!) I presume because of the number of businesses helping create and support the actual finished product would be why a problem in this industry is being addressed at gov't level...Would You buy a car currently in a market where new cars re being sold (in some cases) cheaper than second hand cars with a years milage on the clock? I've heard of a couple of Schemes recently to sweeten the deal..Germany has a scrappage scheme where the gov't will give You €2000 towards a new car if you trade in your 10yo aging vehicle...A Friend in Spain told Me today She got a 0% Loan over 5 Years on Her New car...Which would You prefer ,if any? Thanks for responses!!
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1 response
21 Apr 09
I guess which deal I would prefer depends on what car price it was! The higher the car then the less interest I want to pay but, the lower then the money I would ratehr have off! x
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• Omagh, Northern Ireland
21 Apr 09
I suppose the scrappage deal would be best if you had an aging banger you were preparing to get rid of,anyway,or the loan scheme may be better for someone whose older car didn't quite meet the specs asked for...Apparently the idea being considered is for a candidate car to be = 10 years old,and the owner has to have held title over a Year prior to application to try and cut down those people fancying a fast discount for the effort of picking up a wreck somewhere! Getting car finance can be a problem sometimes,so a 0% deal could help a buyer without a prior vehicle get on the owners ladder or with a younger car they were prepared to trade..it's reckoned smaller, more efficient cars will see most benefit in sales turnover,assuming any scheme actually gets implemented!
• Omagh, Northern Ireland
23 Apr 09
So...We got the scrappage scheme! Now to see how it's to be implemented..I'm hearing £1000 each from Gov't and Manufacturer from mid May,with the Gov't input from a limited pot that will run out in 2010 or as soon as the pot is used up,whichever is sooner..The paper I read the article in said the scheme was to apply to UK built cars? Given the few mainstream makers I'm aware of still going in the UK,that might not be a wide pool of potential vehicles to choose from..I suppose We'll have to wait and see what the qualifications of the scheme are!
• Omagh, Northern Ireland
23 Apr 09
Gah! I just checked my car's logbook..the scheme is open to cars registered in or before July 1999..My Car wasn't first registered until September of that year! So that means I have to wait another 2 months before it becomes eligible?