Spain Business
Spain starts new plan to boost car sales
By h.b. - Jul 31, 2008 - 7:45 AM
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The Government has started a new plan, called VIVE, for those who want help obtaining a new car. The idea of the plan is to reduce the number of contaminating vehicles on the roads of the country and at the same time giving a boost to the troubled car dealers.
The IVE (Vehículo Innovador, Vehícular Ecoloógico) plan can save interest payments of 1,040 € per car. Some of the conditions are that you must be exchanging a car which is at least 15 years old and must be scrapped, that the new vehicle costs less than 20,000 € including interest, and that you are purchasing 100% of the cost of the new car on credit.
The new vehicle must have a CO2 emission level of less than 120g/km It’s open to all people, self-employed, pymes and companies which employ less than 250 people. The plan came into force yesterday, and runs until July 31 2010 and the government expects 240,000 people to take advantage of it.
If you want to apply for it, you have to first put your old car in ‘baja’ at the DGT and obtain a certificate from the scrap yard. You then have six months to buy your new vehicle.
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