How Long Does It Take to Receive Vehicle Scrappage Compensation?

[LeAnna]

Vehicle scrappage compensation is generally disbursed within half a month. According to regulations: government subsidies are provided to owners who eliminate (transfer out of the city or scrap in advance) old motor vehicles, with a focus on eliminating vehicles that meet National Phase I and National Phase II emission standards. Below are relevant considerations: 1. Owners scrapping old motor vehicles: Owners must submit an application for government subsidies for scrapping old motor vehicles to the transaction processing platform. 2. Owners applying for government subsidies through the transaction processing platform with relevant materials: After approval, the municipal finance department will transfer the government subsidy funds to a corporate bank account opened in the owner's name or a personal designated bank current savings account. 3. Owners who have scrapped old motor vehicles and received government subsidies: If they purchase a new vehicle separately, they will no longer be eligible for corporate rewards, and the transaction processing platform will not accept any other applications from the owner.