That scrappage menu in full

Online credit information provider, Equifax, is highlighting that the Government's Car Scrappage Scheme will only work if lenders lend to those who currently own 10 year old cars.

"The question is whether this group of motorists will actually have good enough credit ratings to get the loans they need for the relatively substantial sums required for new car purchases", confirmed Neil Munroe, External Affairs Director, Equifax. "Whilst it is a fairly sweeping generalisation, a good proportion of those who own cars that are 10 years or older are likely to be in the lower earning sectors of the consumer marketplace. Will they, therefore, be interested in a new car purchase and, more importantly, will their earnings be sufficient, along with current financial commitments, to give lenders the confidence to extend credit to them?"

Er, no.