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Experian: Over a million to benefit from scrapping scheme
Female drivers who own a car over ten years old compose a percentage of the 1.5 million people who will benefit from the new car-scrapping scheme, Experian has suggested.
According to the organisation, up to 7.1 million privately-owned used vehicles may be eligible for the scheme, but it will only be beneficial to a proportion of owners.
Around 15 per cent of eligible vehicles could be worth more than £2,000, so it would not be a wise financial decision to scrap a car for less than it is worth.
The company also says many car owners will still look to purchase an older model, rather than buy new.
In the latest Budget, Alistair Darling announced owners of a car which is more than a decade old can trade it in for a new vehicle and claim a £2,000 cash incentive - as long as they have owned it for at least a year.
Kirk Fletcher, managing director of Experian's business information and automotive division, said there is clear segment of population - including female drivers with a rust bucket - in an "excellent position" to benefit from the idea.
He added: "This scheme should help stimulate demand across the car market, as well as assist the environment by removing older, potentially more polluting vehicles from UK roads.
FOXY – Car insurance information
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