The Best Car Finance Blog In The World

It’s been a busy week this week, I attended a round table discussion hosted by Motor Finance, the journal of the industry and one for which I have written a regular column for many years. This was followed by the annual dinner of the Finance and Leasing Association (FLA), attended by 1400 guests, all movers and shakers in the finance and leasing industry. Recession – what recession? Anyway, going back to the round table, one of the main items on the agenda was the new EU Consumer Credit Read more »

Statistics really get on my wick! Speaking to fleet owners and various lenders it is clear that there is less money to lend and businesses as well as consumers are finding it more difficult to finance vehicles. My own association, the NACFB has said that current lending by members is around £7 billion compared to £20 billion in the mid 2000’s. And yet banks and the lender’s association, the FLA say that they are lending more and that, according to FLA statistics their members are lending 16% more to Read more »

Small businesses are finding it more difficult to finance vehicles using their traditional and most popular methods of finance, HP, business loans and overdraft. It seems that more are now turning to leasing, according to Fleet News, as it is easier to arrange the finance, reduces the risk and spreads the funding around. Last year, according to the Finance and Leasing Association (FLA), financing new and used cars to 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 »

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 »