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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 »

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 »

As the Government stands firm on it’s 6 year old Approved Mileage Allowance Payments (AMAP) you should now consider the real benefits of paying for your own car personally and charging the business compared to having a company car. To remind you the AMAP rates are 40 pence per mile for the first 10,000 business miles and 25 pence per mile thereafter. The charge is tax and NI free but even 40% taxpayers are seeing the benefits badly eroded. The charge is to recover not just fuel but all Read more »

We are not in a recession – yet! But signs are that we are moving that way so now may be the correct time to consider leasing your car and take advantage of some of the deals that are about at the moment. It’s all about cash flow and contract hire will certainly provide you with the best cash flow and there is some even better news which I’ll talk about in a moment. If we look at the Audi A6 that we have on special at the moment the cost after 3 months payment in advance would be £329 + VAT per month (£387 per month inc VAT) but if you bought the car on HP over 4 years you would be paying close to Read more »

If you are one of those that has downloaded my introductory video on my vehicle finance training you will know that I have very little faith in the ability of the press to provide proper advice on vehicle finance, in fact I said that some of their advice is criminally misleading. However you expect the Times and Telegraph to at least do some basic research before throwing misleading information onto their online sites. You expect rubbish from the popular press but not from the more upmarket news and information providers. So what is it that has made me so angry? Read more »