Best of the Week
Most Popular
1. Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - Nadeem_Walayat
2.Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - James Burgess
3.Gold Price Trend Analysis - - Nadeem_Walayatt
4.The Beginning of the End of the Dollar - Richard_Mills
5.Stock Market Trend Forecast Update - - Nadeem_Walayat
6.Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - Troy_Bombardia
7.Precious Metals Sector: It’s 2013 All Over Again - P_Radomski_CFA
8.Central Banks Have Gone Rogue, Putting Us All at Risk - Ellen_Brown
9.Gold Stocks Forced Capitulation - Zeal_LLC
10.The Post Bubble Market Contraction Thesis Receives Validation - Plunger
Last 7 days
The Incredibly Bullish Set-Up for Gold - 20th Oct 18
Here Comes the Stock Market Retest - 20th Oct 18
Waterproof Camera - Olympus Tough TG-5 Setup and First Use - 20th Oct 18
Israel’s 50-Year Time Bomb, Pushing Palestinians to the Edge - 19th Oct 18
Bitcoin Trend Analysis 2018 - 19th Oct 18
History's Worst Stock Market Crash and the Greatest Investing Lesson! - 19th Oct 18
More Signs of a Stocks Bull Market Top and Start of a Bear Market in 2019 - 19th Oct 18
Stock Market Detailed Map Of Expected Price Movement Before The Breakout - 18th Oct 18
Determining the Outlook for Gold Mining Stock - 18th Oct 18
Investor Alert: Is the Trump Agenda in Peril? - 18th Oct 18
Stock Market is Making a Sharp Rally After a Sharp Drop. What’s Next? - 18th Oct 18
Global Warming (Assuming You Believe In It) Does Not Affect Gold - 18th Oct 18
Best Waterproof Compact Camera Olympus Tough TG-5 Review - Unboxing - 18th Oct 18
Silver's Time Is Coming - 17th Oct 18
Stock Market Volatility Breeds Contempt - 17th Oct 18
Gold 7-Year Bear Market Phase Is Over - 17th Oct 18
Gold - A Golden Escape - 17th Oct 18
Tec Stocks Sector Set For A Rebound? - 16th Oct 18
Real Estate Transactions are Becoming Seamless with Blockchain-Powered Data Sets - 16th Oct 18
Important Elements of a Viral Landing Page - 16th Oct 18
Stephen Leeb Predicts 3-Digit Silver and 5 Digit Gold?! - 16th Oct 18
BREXIT, Italy’s Deficit, The EU Summit And Fomcs Minutes In Focus - 16th Oct 18
Is this the Start of a Bear Market for Stocks? - 16th Oct 18
Chinese Economic Prospects Amid US Trade Wars - 16th Oct 18
2019’s Hottest Commodity Is About To Explode - 15th Oct 18
Keep A Proper Perspective About Stock Market Recent Move - 15th Oct 18
Is the Stocks Bull Dead? - 15th Oct 18
Stock Market Bottoms are a Process - 15th Oct 18

Market Oracle FREE Newsletter

Trading Any Market

Budget Car Scrappage Scheme £2,000 Cash Incentive

Personal_Finance / Money Saving Apr 27, 2009 - 11:39 AM GMT

By: MoneySupermarket

Personal_Finance Commenting on the Government announcing the introduction of a ‘scrappage scheme’ in this year’s Budget, Steve Sweeney, head of motor insurance at price comparison website, moneysupermarket.com, said: “At last, some good news for the motoring industry. The £2,000 cash incentive to swap cars older than 10 years old for newer models from next month will no doubt help bolster waning motor sales. It could not have come at a more crucial time. Not only will it provide a much needed boost to jobs in this industry, but switching to newer cars, which are normally safer and have less carbon emissions, will be more beneficial for the environment.


“While this is a step in the right direction, it is a shame to see the Government is only putting £300 million into the scrappage scheme pot, assuming this will be matched by manufacturers, only 300,000 people will benefit. I urge motorists wanting to take advantage of this scheme not to waste any time – once the cash pot is dry the scheme will end, regardless of the March 2010 end date.

“The motor manufacturing industry has taken a hammering in the last year and it was imperative the Government offered a firm hand of support to encourage sales and production in this area. The scheme has proved a success on the Continent and should have the same effect on the UK motoring industry.

“For motorists considering purchasing a new car, there is good news on the insurance side too. It’s a common belief a new car will be more expensive to insure than an older model – however our recent research reveals there are some occasions where this is not the case. For a favourite like the Vauxhall Corsa it is over 20 per cent cheaper on average to insure a 2008 model than the 1999 version*. Also on the positive side, where the premium for a new car does show as more expensive, the price differences are much smaller than many would expect to see.” 

Notes :

* Motor insurance premiums for a Vauxhall Corsa:

Sourced by www.moneysupermarket.com 18.02.2009

(Scenario: 35 year old male Teacher, M20, Parked on Drive, 10,000 miles, 5 Years NCD)

Ten years old - 1999

 Five years old - 2004

 Last year - 2008

Provider

Premium

Provider

Premium

Provider

Premium

Swiftcover

£328.09

Swiftcover

£304.53

LV=

£259.78

LV=

£331.52

LV=

£308.87

Swiftcover

£279.87

Hastings Essential

£361.01

Hastings Essential

£342.98

Lloyds TSB

£295.05

esure

£382.30

Swinton

£348.98

Swinton

£315.78

Halifax

£394.52

esure

£359.73

esure

£332.75

Average

£359.49

Average

£333.02

Average

£296.65

 

 

 

 

 

 

 

For the Vauxhall Corsa - average cost of motor insurance for a 2008 model is £296.65, compared to £359.49 for a 2004 model – a £62.84 difference, or 21 per cent.

By moneysavingsupermarket.com

The Price Comparison Site

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules