Sell Old Car and Buy New Vehicle: The process of availing the discount on buying new vehicles by replacing old vehicles is quite simple and beneficial. This is commonly known as ‘Scrappage Policy’, which not only helps in environmental protection but also proves to be financially beneficial for vehicle owners.
Introduction to Scrappage Policy
The main objective of the scrappage policy implemented by the Government of India is to remove old, polluting and unfit vehicles from the roads. Under this policy, if a person scraps his old vehicle, he is given a discount of up to 3 percent on the purchase of a new vehicle. This discount is given by vehicle manufacturing companies, which encourages customers to purchase a new vehicle.
Scrap Process
The process of scrapping an old vehicle is completed in a few steps. First, the vehicle owner has to take his vehicle to a certified scrap dealer. The scrap dealer conducts a thorough inspection of the vehicle and confirms that the vehicle is unfit. After this, the vehicle is scrapped and the owner is provided with a certificate (scrap certificate). This certificate can be used to avail discounts at the time of purchasing a new vehicle.
How to avail the discount
When you scrap your old vehicle, after getting the scrap certificate, you have to present it at the new vehicle showroom. This certificate certifies that you have scrapped your old vehicle and you are eligible to get discounts under the government’s scrappage policy. Based on this certificate, you are offered a discount of 3 percent on the price of the new vehicle. This discount is deducted directly from the ex-showroom price of the vehicle, reducing your total purchase cost.
New vehicles are more fuel-efficient
This policy not only removes old and polluting vehicles from the roads, but also encourages the use of new and more efficient vehicles. New vehicles are more fuel-efficient and less harmful to the environment. Apart from this, vehicle owners also get a convenient and profitable way to get rid of their old vehicle, in which they not only get a discount on the price of the new vehicle but also get the amount received from the scrap.
A positive step for the environment too
Scrapping an old vehicle and getting a discount on a new vehicle is a wise move, especially for those who have been using their old vehicle for a long time and are now planning to replace it. This process is not only financially beneficial for you, but is also a positive step for the environment. It is important to follow the right procedure to get the 3 percent discount under the scrappage policy, so that you can take full advantage of it.
