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verschrotten (v.t.)
   to scrap, junk (cars, etc.)

Die Abwrackprämie (2500 Euro) erhält, wer ein mindestens neun Jahre altes Auto verschrottet, das mindestens ein Jahr lang in seinem Besitz war, und zudem einen Neu- oder Jahreswagen kauft oder least.
The [German] scrap bonus (“cash for clunkers,” 2500 euros) goes to someone who scraps a car that is at least nine years old and was owned for at least one year, and who then buys or leases a new or one-year-old car.

Related:
die Verschrottung scrapping, junking
der Schrott scrap metal; junk, trash
das Schrottauto car ready for the scrap heap, junker (car)
der Schrotthaufen scrap heap, scrap pile
der/das Schrot (coarse) grain, whole wheat
die Abwrackprämie (a former Wort des Tages, with audio)

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