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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 »

It wasn’t that long ago when you could return a car at the end of a lease in pretty average condition and the leasing company would overlook anything other than serious damage. These days they send out specialist inspectors to check over the car and seem to charge for anything that doesn’t conform to showroom condition, in one case they counted the number of stone chips on the bonnet and argued that there were Read more »

If you drive a car and thought you were being singled out in the past to pay off the National Debt single handed through all the various stealth taxes, you aint seen nuthin yet as the saying goes. As local authorities form a disorderly queue behind Nottingham, the first to announce at work parking, to put forward their own schemes for Government approval, others are looking at ways to Read more »

I was recently in a meeting when someone announced the fact that as we emerge from the recession there will be a lot of ‘positive negative’ news about. I instantly thought of him as funny farm fodder and expected him to be carted off at any moment by men in white coats forcing him into one of those tailored jackets whose sleeves tie up at the back. Positive negative news indeed, what a nutter, Read more »

A report out this week shows a drop in leased vehicles of 10% this year. The reasons are fairly obvious with larger companies making redundancies and having to make better use of resources, fewer vehicles are now required.. One van can now do the job of two and one salesman can cover a larger area as a result of decreases in sales and customers. Having said that Read more »

Things are not getting any easier for us brokers or our funders. I heard yesterday that a large part of the Audi range is now on Feb/Mar 2010 delivery for orders placed now. Most funders will price fix for 3 months from the date of order which means that the monthly rate will be held as long as the vehicle can be delivered within the 3 months. However, if delivery is beyond this, rates may be subject to review as a Read more »

Warnings about stone chips have been issued as we move into winter. With local authorities operating on reduced budgets more roads will remain unrepaired as frost causes pot holes to appear. So when the roads start to get gritted, causing the usual stone chips on windscreens, drivers have been warned to have the chip repaired rather than run the risk of hitting a pot hole which can often result in an instant crack. Don’t forget Read more »