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Most car cloning has been carried out to avoid parking tickets and speeding tickets but insurer Direct Line has warned of another reason for cars being cloned, to carry out a crime. The most common, according to Direct Line is forecourt petrol theft. According to the British Oil Security Syndicate, thieves are stealing a significant amount of fuel with the average offender escaping with fuel worth Read more »

Next year should see an upsurge in contract hire sales as the new tax rules kick in. Professor Peter Cooke of the Centre of Automotive Management at the University of Buckingham (and one of my fellow contributors in Motor Finance journal) warned that the tax changes, to be introduced next year, will have a profound impact on the way that businesses fund their cars. Next year will see Read more »

Fraud is on the increase as consumers and small businesses are driven to desperate lengths. Not only are applicants providing incorrect details and proofs, brokers are also falsifying documents in order to ensure that applications are accepted and they earn their commissions. There has also been an increase in premeditated motor finance crime with multiple applications being made in the expectation that Read more »

A report from the Finance and Leasing Association (FLA) showed that their members financed £5.6billion of consumer expenditure on new cars in 2007 and a third of total expenditure on cars throughout the year. Interestingly, new car finance was named by FLA consumer finance members as the most important use to which consumers put their funds, with used car finance the 4^th most important Read more »

Whilst there appears to be a great deal of doom and gloom about, the latest new car sale figures issued by the Society of Motor Manufacturers and Traders (SMMT) to the end of June shows a modest drop of just 1.6% over the same period in 2007. A lot of that was due to the sharp action of the manufacturers to discount cars into Read more »

The 1st October sees the introduction of new regulations that ensures that customers with hire purchase or conditional sale agreements are reminded specifically of their rights to voluntary terminate (VT) the agreement when 50% of the total amount due has been paid. The Consumer Credit Act 2006 states that Read more »

Having been the first to break the news that the takeover of HBOS by Lloyds TSB would also result in the amalgamation of the two contract hire giants Lex and Autolease many are now reviewing what this could mean to the industry. Whilst the takeover still has to be approved by the FSA and needs shareholder approval both MD’s have said that in the meantime it is business as usual. As both companies are Read more »

A recent conference sponsored by leasing company Lex suggested that drivers and all businesses should consider ways of saving money. They concluded, as I have already suggested, that finance is one important area of consideration along with vehicle choice, emissions limits, fuel policies and for fleets even drink and drugs policies. Nothing very new there then but the interesting debate was over fuel choice. The proposal was that diesel Read more »

New regulations have come before Parliament that will allow Highways Agency traffic officers to authorise the removal of broken down and abandoned vehicles from motorways and A roads. This will give Highways officers similar powers to the police. Could this be the thin end of the wedge? By Graham Hill

The Government has launched a major review of road signs, the biggest for 40 years. Transport Minister, Rosie Winterton, has called upon all motorists to have their say in how Britain’s streets should look in future. The review is aimed at using latest technology to help cut congestion and emissions and keep traffic moving safely and efficiently. The idea is to provide local authorities with new powers to Read more »