The Ministry of Industry, Commerce and Tourism allows from today to upload the documentation required to request the aid of the Renove Plan, aimed at the purchase of new or pre-owned vehicles.
Interested parties must complete a reservation form —Available since October 20— and attach several documents within the following 120 days: the bank account number, the vehicle’s technical sheet, the circulation permit, the document supporting payment of the sales invoice and the documentation of the scrapped vehicle. The period between the application and the documentation is extended to 180 days in the case of heavy vehicles.
The evaluation and validation of the files will begin in November and will last during the first six months of 2021. If the request is resolved positively, the collaborating entity will make the deposit into the beneficiary’s account. To access the form it is necessary to have an electronic certificate. If the interested party does not have, they can appoint a representative who does have and manage it through him.
Until the budget runs out
Grants will be awarded to applications that meet all requirements in order of submission until the available budget is exhausted or until December 31. The plan is endowed with 250 million euros, of which 200 are for passenger cars, 25 for light vans, 20 for buses and trucks and 5 for motorcycles. The amount of the subsidy depends on the type of vehicle and the applicant (if they are private or self-employed, SMEs or large companies). The purchase invoice must be after June 15, 2020, the date the plan was announced.
For individuals and the self-employed, the State subsidizes up to 4,000 euros if the vehicle is ZERO and up to 1,000 if it is ECO. The aid is increased by 500 euros if the applicant has reduced mobility, if his household earns less than 1,500 euros per month or if he scraps a vehicle over 20 years old.
Details on eligible vehicles are in the Renove Guide, available in pdf. Cars must be classified as A or B and emit less than 120 gCO2 / km, even though Europe has set an average limit of 95 gCO2 / km per manufacturer and country. You can check if your car is eligible in this simulator. To date, the Ministry indicates, some 15,000 requests have been made.