NEWS

VAT experts have revealed the Government is to profit big from the new car scrap sales incentive scheme. Michelle Malone from VAT accountants ASE revealed that the Government’s £1000 contribution is actually only £870! This is because the scrappage subsidies are considered part of the invoice settlement. In other words, the car’s selling price is [...]

MITSUBISHI will extend the new car scrappage scheme way beyond official calls, to include cars 5 years or older! This HALVES the official 10 years or older Government stipulation. But Car Dealer Magazine wonders whether it is all it’s cracked up to be. Won’t 5 year old cars still be worth much more than £2000? [...]

GLASS’S has rolled out a tool to help car dealers make most money from scrap scheme incentive bangers. It uses a link between Glass’s eSalvage online auction tool, and Elite Incident Management’s network of salvage traders. This means franchised dealers using eSalvage will get immediate access to an established network of salvage agents willing to [...]

HYUNDAI dealers report that, in the first week of the scrap scheme, classic cars have been sent to the scrapper. The firm reports that both a 1966 Austin 1100 and a 1968 Morris Minor were destroyed. This earned their owners £2000 off a new Hyundai. Other classic destructions that may have car fans up in [...]