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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 »

As we all know it is quite normal for grey clouds to have a silver lining. I am busier than normal as consumers and small businesses look for ways to reduce their vehicle costs as we move closer to recession. For reasons mentioned previously leasing is a great option when times get hard but as fuel prices remain high we are seeing emptier roads. People are taking fewer trips in their cars in order to save fuel although Read more »

Hertz have announced their entry into the Car Club market as companies and consumers look at ways to reduce their car costs both throughout Europe and in the US. Locations are being selected throughout the UK and they expect to launch later in the year. Following existing models that are working they are expected to charge a monthly membership then the use of the car by the hour. The expectation is Read more »

Over the years I have often found myself locking horns with accountants over the benefits of leasing. Most accountants fall into one of two categories, they either ‘get it’ totally or are totally clueless. Of course all of my accountant readers ‘get it’ totally. It was highlighted last week once again when I couldn’t get a potential client’s accountant to appreciate that by taking a lease his client would save around Read more »

Some good news on the ESC (Electronic Stability Control) front. The EC has moved to make ESC compulsory on all new cars. The bad news is that the system will only be phased in from 2012 and made compulsory from 2014. You will recall that this is the system that checks your speed vs angle of steering and slows you down if you are about to go into a skid, it also applies power and/or braking to the wheels that are gripping. It’s an amazing system that was Read more »

If you are the sort of person who still likes to own your car then at some stage you will need to sell it again but according to contract hire company Lex it depends where you live as to how much you will get for your old car. If you have gone green and now own a hybrid or electric car you will be better off in the South especially around London as a result of the affects of congestion charging. Conversely Read more »

Much has been written recently about ‘wholelife costs’ when comparing purchase methods to leasing of cars because the one most important element of the equation is the value of the car in 2 or 3 years time. The problem is that most people are far too optimistic and this throws the whole calculation out of kilter. Take for example a Renault Scenic 1.6 Dynamique S costing £18,000 including metallic paint. In a straw poll I asked several people what they thought the car would be worth in 3 years time on average mileage. Their estimates ranged from Read more »

Sheilas’ Wheels have reported that more than three quarters of female motorists drive while hungry even though nearly half say that driving whilst hungry causes a loss of concentration. For 40% they say that feeling hungry increases their tiredness on the road. When asked why they drive whilst hungry the general response was it ‘slips my mind’ so the message must be if you want to be safe in a car with a woman driver listen out for the danger sounds, not tyres squeeling or knocks coming from the engine but a rumbling tummy and take a bag of chocolate to fix the problem. By Graham Hill

I recently warned anyone who has a car they own to get out of it as soon as possible and get into a lease car that carries no residual risk and reduces cash flow. The drop in used car values achieved at auction has again been highlighted by British Car Auctions who reported an average monthly drop in May of 3 year old cars of 2.6%. This continued into June with the average drop reaching 4.2%, the largest single month’s movement for several years. Again, get out of car ownership and into a form of finance which takes away all of the residual risk. By Graham Hill

Proposals have been made to re-schedule MOT tests. The first to take place after 4 years followed by biannual checks. As cars are built better and service intervals stretch out to 2 years or 20,000 miles it is felt that MOT tests are not required so frequently. However, the vehicle repairer’s association, MVRA, has objected strongly referring to ‘serious safety issues’ if the new proposals are adopted. I’ll keep you posted. By Graham Hill