5k Cashback on electric cars

The vehicle scrapping scheme being planned for rollout on UK vehicles, is already expected to offer users up to £2,500 off the price of a new vehicle when swapping in your old banger. However it is expected that the government will announce (in the budget) up to £5,000 off an electric car when you trade in your old motor.

This bold move has a dual benefit, not only will this promote environmentally friendly motoring, but it should also give a much needed boost to the beleagured motor trade industry. Gordon Brown hopes that this incentive will help establish the UK as a leading producer and consumer of cutting edge eco-friendly vehicles.

However you will have to be keen to ensure you can get one of these deals as there will be a £250 million fund for this scheme, which will be administered on a first come, first served basis. With the announcment of this scheme imminent, car makers are racing to develop the vehicles to sell under this scheme.

For car dealers whether you sell conventional fuel, hybrid drive or electric vehicles we can save you money on your motor trade insurance. With introductory discounts and expert advisors, get a cheaper motor trade quote with iQuote Insurance.

The scheme to replace existing vehicles with eco-friendly cars is part of larger vision which includes creating green cities with readily available electric car charging points and the plan to create hundreds of thousands of jobs in the green motor trade sector.