Swappage taken over from scrappage
24 May 10
With garage doors firmly closed on the Governments Cash for Scrap Scheme, Staveley Head, one of the UK’s leading motor trade insurance brokers has noticed an increase in the motor industries Swappage Schemes.
The Government's Cash for Scrap Scheme ended at the end of March 2010 leaving a gap in the market for the motor trade industry. It appears many car makers have taken the bull by the horns and come up with their own scheme known as ‘The Swappage Scheme’.
With many of the leading car makers now offering thousands of pounds off brand new cars and cash incentives for your car if it is over a certain age, Staveley Head thinks it’s very inspiring that as one door closes car makers are opening new doors by using their initiative after the success of the scrappage scheme.
Mark Huggins director of the AA financial services does send out a very important warning to customers saying:
“People trading in a 10-year-old car might well be stepping into a new car showroom for the first time and can easily get swept into unwise finance deals or other options they don't need.”
He also added:
“Some garages may also offer a 0% finance deal. But check if additional fees apply, such as loan insurance, set-up or documentation fees and what happens when the deal ends. You may also need to pay a hefty deposit of up to 40 per cent.”
Therefore, there are some great deals to be had but buyers should just keep their wits about them and do some research before entering into a deal.
Staveley Head specialises in low cost motor trade insurance for full and part time traders. They can also advise you on additional insurances that may benefit your business such as public liability insurance to run alongside your motor trade insurance.
To speak to an advisor to discuss your insurance needs contact Staveley Head on 0800 023 7210 or visit us online at www.staveleyhead.co.uk/motortrade/
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