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It was earlier this year when I warned that money was tight in the vehicle finance sector that would mean only the squeakiest of clean business would be written. In some instances I heard that acceptances were down to just 20% of applicants, not because the vast majority of applicants were poor credit risks but available funds meant this was the maximum number of applicants that could be accepted. Many Read more �

I have been quite scathing about the extending lead times that car manufacturers have been quoting, questioning the management and accusing some manufacturers of using these extending lead times to manipulate the market prices of their cars. However, it would seem that I may not have been entirely right as I learned that many of the production delays have been Read more �

There have been mixed feelings expressed over the Corporate Manslaughter Act that was introduced in April 2008. Basically, if you are an employer and you have failed your duty of care that results in the death of your employee or others you, or the director/partner in your business responsible, could face prosecution and a prison sentence as well as an unlimited fine on the company. Some have stated that the Read more �

There are a number of vehicle recalls each year, some of which are fairly minor causing no more than an irritation whilst others are much more serious which could result in injury. One of the latest recalls was issued by Ford on 29,000 Focuses for a potential overheating problem in the cooling fan to be rectified. The warning read: Focus (potential overheating/fire risk), models from 20/02/04 – 31/05/06. Read more �

More and more manufacturers are embracing the new stop-start technology in an effort to reduce car emissions to meet the targets set by the EU if they are to avoid some hefty fines. “But how does stop-start work Graham?” I hear you all shouting at your computer screen. In fact I can’t hear you shouting, I’m imagining it. In fact you may not even give a monkey’s banana but you’re going to be told anyway! Let’s take Read more �

As you are probably aware the VAT rate will increase back to 17.5% on the 1^st January 2010 with further rises expected as we move out of recession. Some pundits are already predicting a rise in rate to 20%. We will start to see interest rates shift upwards and car prices will continue to rise making this year a good time to take out a PCP if you are thinking of this form of finance. Mercedes have seen this Read more �

We have a unique and totally different method of leasing in the UK compared to the US and to make matters worse few people in the UK actually understand how it works. On numerous occasions I’ve had conversations with customers who have explained to me they have negotiated a great deal with a dealer and could I work out a lease for them based on their negotiated price. The problem is that this isn’t Read more �

Over the last few months we have seen a great deal of activity in dealerships offering a greater variety of finance products to customers. Manufacturer provided finance facilities are offered through ‘captives’ that are either funded by the manufacturer or through a major finance provider. The funder provides the facilities on documents printed in the name of the manufacturer. As a result of increased competitiveness Read more �

Fraud, miss-selling and malpractice cases have been on the increase during the recession causing a serious re-think about the regulation of the motor finance industry. In the meantime brokers are strongly advised to provide warnings to customers about the dangers of signing a legally binding contract without reading and understanding the terms and naively basing the decision to take finance on rate or APR alone. I Read more �

New rules will be introduced next year to speed up insurance payouts following car accidents where liability is accepted. The Ministry of Justice said the agreement will streamline road traffic accident personal injury claims between £1,000 and £10,000 – around 80% of all motor personal injury claims. The new process comes into force in April 2010. It means, where fault is not disputed, Read more �