The PIVE 5 Plan will run out in June

The PIVE 5 Plan, an incentive scheme for buying vehicles in exchange for scrapping an old one, is coming to an end, scheduled for mid-June (or even earlier). Currently 70% of the funds allocated to PIVE 5 have been used up.

PIVE 5 was budgeted at 175 million euros, and a total of 110,000 purchase transactions have been counted out of the 175,000 planned. So if you are thinking of buying a new car, now is a good time, before the PIVE Plan runs out.

Thanks to PIVE 5, a buyer of a new car receives aid of 2,000 euros (1,000 euros from the State and 1,000 from the manufacturer) for cars priced up to 25,000 euros before VAT, although this rises to 30,000 euros for people with some type of disability. To qualify, we had to scrap an old car that was 10 years old or more (seven years or more in the case of commercial vehicles).

In the case of large families, the aid rises to 3,000 euros (1,500 euros from the State and another 1,500 from the manufacturer) provided they buy a car with more than five seats or one that is adapted.

For the time being, we do not know whether there will be a PIVE 6, but there is no doubt about the importance of the various incentive schemes for buying vehicles, because sales have increased and they have been a lifeline for the industry.

Source: | Cinco Días