Hyundai has joined the ranks of manufacturers offering scrappage or part-exchange offers for older, higher-polluting vehicles, with between £1,500 and £5,000 on offer from September until the end of December.
The Korean company is the latest manufacturer to announce financial incentives for owners of cars with Euro 4 or earlier emissions ratings. BMW/Mini, Mercedes-Benz/smart and Ford have all launched similar schemes this month, while Vauxhall has run similar schemes on several occasions in the last three years.
The Hyundai scheme is broadly similar to others on offer, particularly the Ford scrappage scheme. Owners of any Euro 1 to Euro 4-rated vehicle, either petrol or diesel, can claim a part-exchange allowance on a range of new Hyundai models.
Any Euro 1 to Euro 3 part-exchange vehicles will be scrapped, while Euro 4 models (approximately 2005 to 2009) will be re-sold.
The allowances on offer range from £1,500 on the Hyundai i10 hatchback up to £5,000 on a Hyundai Santa Fe SUV.
Hyundai will also offer 2.9% APR finance plans to support the part-exchange offer, although details of these are yet to be announced. We will update you as soon as Hyundai publishes more information.
The Car Expert checks the fine print
- This offer is a part-exchange allowance, for selected used cars part-exchanged against selected new cars.
- Your current car can be from any brand, but must be built to Euro 4 emissions standard or earlier. This will definitely be cars registered before 31 December 2009, although some cars had Euro 5 specification engines earlier than this.
- You must be the owner of the part-exchange vehicle and the buyer of the new car (same name and registered address).
- You must have owned the old car for at least 90 days, to stop people buying an old banger for £200 and then getting a £5,000 part-exchange allowance for it.
- You must order your new car and take delivery before the end of the year.
- This offer can be used on top of any other offers from the dealer/manufacturer/finance company, including the government plug-in car grant
- The offer is not dependent on you taking any finance package or other products.
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