Tag Archives: cash for cars scheme

Is a Cash For Cars Scheme a Good Idea ?

In Germany new car sales have increased it is reported by 40% in the month of March. As part of their economic stimulus package the German government is paying old car owners 2,500 euros towards the purchase of a new car and about 1 million car owners have taken advantage of the scheme so far.

This is obviously good news for German car manufacturers but it is not so good news for car repairers, used car dealers and scrap metal dealers who have all seen a dramatic downturn in business.  So, whilst the car makers are feeling pretty smug about things other trades have been hit.

My opinion is that the car scheme is a good idea. It makes more sense to pump money direct into the economy rather than give it to banks who are still not lending money like they should. So, why choose the car makers to throw money at rather than other industries ? Well, I’m no expert but it’s probably because the car industry employs a huge number of people and if car manufacturing was to disappear then it would be very difficult to get it back.

I like the idea of incentives to buy cars but why can’t it be extended to other products. How about £50 for an old fridge towards the purchase of a greener new model ? Or how about £300 towards a new combination boiler or £100 for a new oven ? The list is endless but at least it gets trade going again and also it helps reduce co2 emissions !

I say lets have a cash for cars, boilers, fridges and ovens scheme here in the UK !