Plan PIVE 8 - Final Edition

Eighth and final edition of the programme PIVE , providing subsidies on the purchase of new cars, meant to reduce the number of older cars on the road, thus providing better road safety and an impulse to Spanish economy. Budget for this edition 225 million euros. Window for applications started the 16th of May 2015 and will last until funds have exhausted.

Things to take into account: 

– Maximum purchase price for regular (gasoline or diesel) turismo cars of 20.000 euros and 40.000 euros for electric or hybrid cars.

– The car to be scrapped has to have been in legal posession of owner for at least 12 months prior to applications of subsidy on purchase of new car.

– The car to be scrapped must have valid ITV.

– The Plan PIVE 8 cannot be used in combination with other subsidy programmes for the purchase of vehicles.

– If any funds left from PIVE 7, they will be added to PIVE 8.

– Applicants must be of age, unless disabled, then no age restriction.

Note: please beware that the subsidy you receive is subject to IRPF contributions and must therefore be included in your tax return. Depending on your total income, you might have to pay tax on it varying from 24,75 to 50%.

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.