The Best Car Finance Blog In The World

As we know credit has been harder to arrange of late with some vehicle finance funders down to around a 20% acceptance rate. But if you foolishly believed that the situation would ease this year, considering the fact that bankers are again paying themselves some massive bonuses, you would be wrong! You see years ago credit card companies were credit card companies and leasing companies were either part Read more »

A few years ago I was a consultant to Yes Car Credit, a company that I hugely respected because, in many ways, they got it right! However, becoming the UK’s largest seller of used cars in about 4 years carried with it a number of problems that the UK press, as always, was eager to pounce upon. The company was selling nearly 50,000 cars per annum at the point of its demise and I would admit that the combination of Read more »

 As I recently suggested we are hearing from the car manufacturers and industry pundits that as the scrappage scheme comes to an end there will be a change in emphasis from retail car sales to fleet. Bonuses will return in order to bring fleet sales back up having dropped back by over 20% last year. Having said that I have seen no real evidence that we will have an avalanche of bonuses over the next few months but Read more »

 The cold snap meant that, for the first time in years in the south of England, drivers were not only having to deal with driving in very snowy and icy conditions but also have had to clear large amounts of snow and ice off their bodywork and screens. In some cases I saw drivers clearing snow that had turned to ice off their car with a spade and another with a piece of wood. Whilst most were reasonably sensible and Read more »

 The House of Commons Treasury Select Committee has been looking into credit reference agency ‘footprints’. A footprint is created each time a credit search is made on a person or business recorded by the credit reference agencies. Over the last few years car finance comparison sites have cropped up on the internet with some very shady providers freely advertising on them. A common routine is to Read more »

 Whilst fleet sales were down last year retail sales were up as a result of the scrappage scheme and dealers that expected to make losses ended up making profits. This was the result of what could only be described as a total con trick. Retail buyers were convinced that giving up their old car to benefit from a £2,000 bonus from the Government and manufacturers was a good idea but stories were exchanged throughout the Read more »

 Well here we are into a new year already. Hope you had a great Christmas and New Year celebration. Last year wasn’t as good as it should have been but didn’t end up as bad as I thought it might do due to an enthusiastic flurry in December. Unlike the last recession, during which we struggled to find clients that wanted to take out finance, I had about 5 times as many people looking for finance in this recession than I Read more »

More people are taking cars on lease as it saves money and improves cash flow. They are also wising up to the fact that cars have to be returned in a ‘reasonable’ condition which means any damage should be repaired or you could face some serious refurbishment charges if the leasing company assesses the work when the vehicle is returned. As a result many are turning to the cheapest alternative and that is the Read more »

Confusion is going to reign over the many issues that will surround the use of electric cars as company vehicles. Already manufacturers are developing their new electric cars with some such as Peugeot already taking reservations on their new cars. But who pays for the fuel? Cars will need to be charged at the driver’s home as well as at work so who foots the bill and how will it be proportioned between business and Read more »

It’s been a mixed year for us in the car leasing business. Cars have become more and more difficult to source and lenders have pulled out of the broker market in their droves but we have still managed to find some pretty good deals to keep the interest going. We are all uncertain about next year as we are still in recession and manufacturers are still struggling to meet demand but one thing is for sure, I’ll still be pushing Read more »