Plan PIVE 'scrap-for-cash' new and used car scheme relaunched
Sunday, June 8, 2014 @ 10:20 PM
A SIXTH season of the scrap-for-cash 'Plan PIVE' has been launched with a government grant of 175 million euros in a bid to boost the car sales industry and reduce the number of older vehicles on the roads.
Grants for purchasing electric cars with a total budget of 22 million euros, and a 'Plan PIMA' – the commercial vehicle answer to the PIVE – have also been rolled out.
The previous five Plan PIVE sessions have allowed owners to buy 540,000 new cars which are 'less polluting' than older vehicles, as well as providing a massive business boost for dealerships at a time when high unemployment and reduced spending power would otherwise have meant that very few people in Spain could afford to replace their cars.
As a result of the Plan PIVE, anyone with a car over seven years old can trade it in for a brand-new one with a hefty discount on the asking price, since their old vehicle will effectively be scrapped and used for parts.
In practice, some of them are probably sold on cheaply to first-time drivers or those on a very low budget.
Read more at thinkSPAIN.com