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As more consumers take out Personal Contract Hire and those that have Personal Contract Purchase end up with cars that are worth less than the final payment, more cars are being returned to the leasing companies at the end of the contract that must be in ‘reasonable condition for its age and mileage’. But what is reasonable? One lady wrote to me complaining that she had some unreasonable Read more »

One of the side affects of the current recession and the drop in value of used cars are  the poor settlement figures being offered by insurance companies as a result of total write offs compared to the settlement figure required by the finance provider. Another involves the early settlement figures being asked for by lenders when drivers wish to early terminate a finance agreement, this could be as a result of Read more »

There appears to be a bit of a shake up in  the way that cars are insured. Where companies allow drivers to use their own cars for company business it is being suggested that the companies now take out company policies that include the cars owned by the employees in order to ensure that all cars used for company business are adequately covered. There are also proposals to introduce Read more »

In my opinion leasing is by far the most cost effective way of funding a car provided you can be flexible and look for the best deals around at the time you take your new car. However, there is one major drawback to leasing and one that I write about regularly in my newsletter, trade press and national press. It is the one area that I receive most complaints about from buyers of my book. It is the end of contract charges. I Read more »

The Dutch government have taken the lead by guaranteeing a 1.5 billion Euro package for car leasing company Lease Plan. This is part of a 200 billion Euro rescue fund set up by the Dutch. Lease Plan is the first company to take advantage of the rescue fund which, according to Finance Director, David Stickland will provide additional funding for Lease Plan UK. Read more »

As often happens I have found myself at odds with some leasing companies who are promoting either sale and rentback or sale and leaseback. The majority of company vehicles are still owned outright and with times getting tougher out there some lenders have been promoting a scheme known as sale and rentback, whereby you sell your company cars to Read more »

The leasing sector is starting to contract as was predicted in my newsletter a few weeks ago. GE Capital Solutions, number 8 in the top 50 leasing companies in the UK says it will no longer deal with fleets of less than 50 vehicles. The company says that it wants to concentrate its efforts in Read more »

 Lease cars are better maintained than privately owned cars – fact! Hitachi Capital Vehicle Solutions carried out a check on privately owned cars to see how well maintained they were and shockingly found that 88% were in need of attention. Whilst Hitachi admitted that some faults were somewhat minor there were a significant number that were more serious such as Read more »

Even in these enlightened times and a greater awareness of employer responsibilities when it comes to health and safety at work relating to those who drive a car on business, a recent survey revealed that a third of drivers opt for the cash alternative to a company car. This is so dangerous as drivers who need as much money as they can save to simply pay their household bills, Read more »

 I have just read about a most bizarre scheme that seems to have the support of the courts but has caused lawyers and businesses great concern. It came to light in a recent case where the driver of a car involved in an accident  was handed a card by the at fault driver giving details of his employer and offering to assist with the repairs and arrange a replacement vehicle free of charge. The claimant rejected Read more »