Updated Hyundai Scrappage Scheme

Hyundai is set to build on its industry-leading scrappage success with ground-breaking schemes which will help even more customers afford a new Hyundai.

These include Trade & Upgrade, which allows buyers the same £2,000 part exchange allowance as scrappage customers even after the government scheme ends, and Happy Returns, which offers Hyundai’s existing scrappage customers the chance to swap to a new ‘10’ registration in March for as little as £499.

"We have learnt some valuable lessons from the 33,000 people who have bought cars from us under the scrappage scheme," said Tony Whitehorn, Hyundai’s managing director in the UK.

"They love transparent pricing. They hate haggling. And if they see a good deal they will snap it up. What we are offering post scrappage will build on this experience and will change the way cars are bought in the UK for ever."

Trade & Upgrade will offer the 6.4 million owners of seven to 10-year-old cars in Britain the same £2,000 allowance offered to scrappage customers.

Unlike similar schemes from other manufacturers, Trade & Upgrade allows buyers to choose any new car from the Hyundai range, not just the more expensive models.

It’s not only old car drivers who can benefit. Happy Returns will allow those who were savvy enough to buy a Hyundai using scrappage another chance to pick up an unbeatable deal and own another new Hyundai.

Owners who bought a new i10, i20 and i30 last year will be invited to swap it for a brand new Hyundai wearing the new ‘10’ registration.

The swap can be made any time up until the car’s first anniversary, saving the customer the cost of the first service and tax disc renewal. The new car will of course also have a new five year warranty.

The customer’s contribution to the deal will be £499 for an i10, £599 for an i20 or £749 for an i30. Customers will be able to trade up and down the range if they want to switch to a different car or add options.

Once the price of a service and tax disc are taken into account, it could mean that the ‘cost to change’ for an i10 customer could be around £250 – that’s just £20 per month in depreciation. For the i20, buyers will be upgrading to a 2010 model year car with ESP as standard and an improved interior.

The scheme has been made possible because of the exceptional residual values of Hyundai ‘i’ cars and the high demand for quality used cars in the Hyundai network.

There is a further treat in store for existing Hyundai customers. All 33,000 buyers who made use of scrappage will be sent a ‘Friends and Family’ voucher which will allow them to give relations and acquaintances something more than just good car-buying advice. They will also be able to offer a £250 voucher to spend on any new Hyundai.

(PR/GK)