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16 April, 2009

Old Car Trade in - How to make money from it!

The word is that the government is about to announce a scheme to pay £2000 towards a new car if you scrap your old car, which is over 9 years old. This is going to save the planet.

How quickly the planet is saved depends on how many miles a year you drive your new car. As making your new car and re-cycling your old one will produce a massive amount of carbon you might have to drive the new one about 300,000 miles before the planet wins.

The great thing about the scheme is its potential for making money so I am off out to buy up as many old wrecks as I can. Under the scheme the plan is this:-

1) Buy a wreck over 9yrs old for £100 and register it in your name.

2) Scrap the car and get the £2000 off voucher

3) Buy a basic new (or under 1 year old) car for £7000

4) Sell the new car straight away, maybe even back to the dealer for £7000 less VAT £1050

5) Pocket £850

Repeat as above.

At last the chancellor has proposed something really useful.

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