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Banks are lending less to leasing companies making life even more difficult for small businesses to secure funding. As of 31^st March 2011 lending to the leasing companies was down by 16% from £28.4 billions the previous year to £23.8 billions. Leasing is seen by many small businesses as an alternative way to fund their vehicles and equipment as Read more »

What’s my car worth? I’m often asked this question by drivers who have the option to buy the car that they have been driving for the last 2 or 3 years from the leasing company. I have to say there is no definitive answer, to think that you can simply open a book, check the model and year, adjust the value for a higher or lower mileage than average mileage Read more »

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One of the biggest challenges faced by businesses and consumers is access to finance. Vince Cable, Business Secretary, appeared before MP’s recently and strongly expressed his disappointment that the banking industry was still not honouring its pledge to lend more money to businesses. Referring to British Banking Association (BBA) figures he Read more »

Rip off Britain is still alive and well and currently living in the diesel fuel pumps! According to latest figures Britain now has the highest priced diesel in Europe even though the actual cost of the diesel before taxes is the lowest. In January the cost of diesel was 51.1 pence per litre (ppl), according to the National Statistics Office. In February it rose slightly Read more »

Let me tell you a story about an accountant who used to introduce clients to me about 12 years ago. He was a Chartered Accountant and according to the charter he couldn’t be paid a fee for arranging anything financial for his client. In other words if he had recommended a client to a financial advisor, who in turn arranged a pension or a Read more »

I seem to cover this subject frequently but in case you have only recently started to see my newsletter/blog let me explain the relationship between the person advertising lease deals on the Internet, dealers and you. First of all the people advertising on the Internet, often called something like amazingcarleasing.co.uk are not actually leasing Read more »

It would seem that we are getting very close to the time when, by far the biggest running cost, when it comes to cars, i.e. depreciation, is overtaken by the cost of fuel. CFC Solutions have made this claim looking at the way fuel prices are increasing compared to the cost of depreciation for the average 2.0litre upper medium petrol company car. It was in Read more »

The EU are about to do it to us again, impose a new law on us concerning eye tests. The impending legislation will require van drivers to have their eyes tested every 5 years and private motorists to be tested every 10-15 years. In the past there has been no law governing eye tests although most responsible employers offered them to their employees Read more »

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One of the smaller changes to the benefit in kind tax rules following the budget was the removal of the upper limit when applied to company run prestige cars. In the past there was a limit placed on the list price used when calculating personal benefit in kind tax of £80,000. This has now been removed so taking a Bentley Flying Spur as an example with Read more »

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Well, I guess the big news of the week, and one I was waiting to break before sending out my deal of the week and updated blog, is the launch of Tesco Cars www.tescocars.com. I have been working as a consultant with Carsite, whose site has been updated to accommodate the new name and Tesco loans. The same procedure is being adopted by the new website as happened under the old scheme with car photos, HPI and inspection reports. The difference now is the addition of 2,000 clubcard points with every car Read more »