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Hyundai creates its own scrappage scheme

Hyundai will continue to offer its own £2,000 part exchange on all new Hyundai cars when the Government’s scrappage scheme ends in February.

The new scheme includes Trade & Upgrade, which allows buyers the same £2,000 part exchange allowance 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.

It's unclear whether the £2,000 discount all comes from the manufacturer or whether it involves a dealer contribution.

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

“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 forever.”

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

Happy Returns

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 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.

Hyundai said the Happy Returns scheme was possible because of the residual values on its “i” range and the high demand for used car stock in the Hyundai dealer network.

Friends and Family

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 a £250 voucher to spend on any new Hyundai.

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