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Car
Scrapping Approved
In an effort
to boost the domestic automotive market,
the government has decided to offer
incentives to those who choose to
voluntarily scrap their cars. Any car that
is older than 15 years can be scrapped and
the government will give you a credit
towards a new car.
The government is aware of the low amounts
of cars being sold, and car loans being
taken out, and in an attempt to help those
industries, they are proposing voluntary
scrapping. This way more people will buy
cars and take out auto loans, and both
industries will be assisted by the move.
It also helps those that might want a new
car but cannot afford high auto loan
payments. By giving them a credit toward
purchasing a new Proton car, they might be
able to afford the payments on a car loan.
This move will especially help Proton
Holdings Bhd as it is their cars that
people will be taking the car loans out
on. They are also going to be coming up
with the details of the policy that the
government is offering. Depending on how
many people apply, they may extend it in
the future for cars more than 10 years
old.
The subsidy that owners will get will be
on a scale, with make, quality and market
price of the car going into the
determination of how much they will get
toward their car loan. There will be a
maximum of RM 5,000 given toward the car –
which will be at least enough to cover the
down payment on the car.
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August 2007 Archives
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