Middle-aged buyers taking advantage of scrapping scheme

Middle-aged cash buyers are the biggest users of the government scrappage scheme, it has been revealed.

A survey from the Retail Motor Industry Federation (RMIF) has stated some of the key stats associated with the scheme, offering motorists a £2,000 discount on a new model if they trade in their used car of over ten years of age to be scrapped.

Some of the findings highlighted that a fifth of the cars are priced between £8,000 and £10,000, while 63.7 per cent of those taking advantage are between the ages of 45 and 60.

Furthermore, just over two thirds of motorists seek an engine size of between 1.0-litre and 1.3-litres, meaning that vehicles including a Ford Fiesta, Nissan Micra or a Volkswagen Golf are among those which offer the most appeal.

The study was also carried out by the motor industry newspaper Automotive Management.

Editor of the publication Jeremy Bennett said: "Car buyers now have the knowledge they need to make a fully informed purchasing decision.

"It’s clear the scrappage scheme has released pent up demand which had built up as result of uncertainty as we waited for a decision on a scrappage scheme."

The scrappage scheme for the car industry was announced as part of the 2009 Budget by chancellor Alistair Darling.

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