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New Delhi. After the implementation of the Vehicle Scrappage Policy in the country, 1.2 lakh vehicles have been scrapped so far. Of these, about 61,000 were government vehicles which were more than 15 years old. At the same time, a target has been set to scrap about 90,000 old government vehicles by March 2025. These figures have been collected from registered scrapping centers. Vehicle companies have also joined in the effort to remove old vehicles from the roads. Vehicle companies have agreed to give a discount of 1.5% to 3.5% on the new car to customers who scrap old vehicles. At the same time, some top luxury car manufacturers have agreed to a discount of about Rs 25,000.
This decision was taken in a meeting with the Society of Automobile Manufacturers (SIAM) chaired by Nitin Gadkari (27 August). This is being described as a big step by vehicle companies to encourage scrapping of old vehicles. Scrapping of old vehicles will increase the demand for new vehicles in the market and will also curb pollution. However, if you scrap your old car, what benefit will you get on buying a new car? Let’s know.
The old car will benefit you as you go
According to the Vehicle Scrap Policy 2021, a certificate is issued on scrapping an old car at any registered vehicle scrapping plant. If you buy a new car, then due to this certificate you can get up to 25% discount on the vehicle tax of the car. Understand it with an example – In Delhi, 10% RTO fee is charged on a car worth 10 lakhs or more. In such a situation, you have to pay a vehicle tax of Rs 1,00,000. But you can save Rs 25,000 in this by showing the scrapping certificate. On the other hand, by scrapping an old car, you get 4-6% value of the price of the new car. That is, if you bought a car for 10 lakhs, then you can get a scrapping value of Rs 60,000.
Car companies have also agreed to give a discount of 1.5% to 3.5%. In such a situation, you can save up to Rs 35,000 on a new car worth Rs 10 lakh. If an additional dealer discount of Rs 5,000-10,000 is added, then overall you can save up to Rs 1,50,000 on a new car.
People living in UP get this much benefit
The benefits of vehicle scrappage policy depend on the states. The policy has been made by the central government but the states can implement it according to their own. If we talk about UP, in March last year, the UP government had announced a 75% tax exemption on the purchase of new vehicles on scrapping old vehicles. That means in UP you will have to pay only Rs 25,000 for the registration of a new car in exchange for scrap. That means people of UP can save Rs 75,000 in the RTO fee of a car worth Rs 10 lakh.
Tag: auto news, Car Bike News, Nitin Gadkari
first published : August 30, 2024, 4:06 pm IST
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