Older generations favour the car scrappage scheme, finds Experian

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Older generations favour the car scrappage scheme, finds Experian

Mon 8th Jun 2009

Recent research has found that older generations are more attracted to the government's car scrappage scheme than their younger counterparts.

Undertaken by Experian, the research discovered that people who are nearing the age of retirement are the ones most likely to take advantage of the government-run scheme, which allocates motorists a £2,000 grant if they trade in their old car for a new model.

According to Experian, there are currently 7.1 million cars in the UK eligible for the scheme, but realistically, only 1.5 million owners could take advantage of it when it comes to affordability.

Of these, 18 per cent are approaching retirement age and tend to prefer models such as superminis and multi-purpose vehicles, the result showed.

The car scrappage scheme was introduced by chancellor Alistair Darling as part of the UK's 2009 Budget and was designed to encourage the buying of more fuel-efficient cars, as well as bolster the car manufacturing industry.

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