The Vehicle Scrappage Scheme, a voluntary scheme allowing participating motor dealers to give buyers of a new car and some small vans a £2,000 discount off the purchase price in exchange for scrapping their old qualifying vehicle, was scheduled to close in February 2010. However, the Government recently announced its intention to extend the scheme to March 2010 or until the funding is exhausted, whichever is the sooner.

Lord Mandelson, The Business Secretary, urged people considering buying a car or qualifying van to place their orders quickly to avoid disappointment, as the scheme is funded by a finite budget.