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Dr Richard Meade on the "Cash for Clunkers" scheme | Sean Plunket
Founding Editor and Breakfast Host
How would you like to trade in your old car for up to $11,000? The Platform has learned that the government is looking into a cash for clunkers scheme that could mean further subsidies of up to $11,000 per car. We understand that sections of the vehicle industry and credit industry have been consulted. The idea is that you would be able to trade in your 20-year old clunker, which will be scrapped. In return you will get a subsidy to buy a new EV. The subsidy on the car depends on your income. Low income: You could get up to $11,000, so that will drop the price of a new EV from $50-$55,00 to an affordable $40- $45,000. All this on top of the existing feebate scheme. You would get a loan and pay it off out of the savings on your petrol bill.