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Manufacturers were going a bit crazy last week as they warned contract hire companies and brokers from selling on hugely discounted new cars. As though this was earth shatteringly new! It isn’t, how do you think the car supermarkets have been able to sell new cars more cheaply than main dealers can buy them for? The practice of daily rental companies selling on brand new cars to Read more »

Finally it would seem that fewer people are using private cars for business since the Government chose not to adjust the Approved Mileage Allowance Payment (AMAP) in line with increasing running costs especially the increase in fuel costs. The rates are still set at 40 pence per mile for the first 10,000 miles and 25 pence per mile thereafter, tax and NI free. This rate was set six years ago Read more »

A free website was launched earlier in the year aimed at reducing carbon emissions and increasing the efficient use of taxis. The website is www.emptycabs.com . The website is a free message board where anyone looking to book a taxi, to an airport for example, can be put in touch with Read more »

As if to support my comments made over the last few weeks market analyst Datamoniter has recorded a growth in vehicle leasing in the fleet sector as more companies release cash tied up in their vehicles and reduce exposure to market conditions by selling off the cars they own and replace them with leased vehicles. New vehicle sales generally slumped further in August from the July drop of 7.3% to an unprecedented 15.6%. Consumers, unaware of the cash flow benefits of leasing new cars, have really 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 »

Very bad news if you have bought a car or are buying it on HP but great news if you are leasing! EurotaxGlass’s has warned that used car prices will fall by at least 12% between now and the end of the year as retail demand continues to ease and the supply of second hand cars exceeds demand. The drop is around three times the drop experienced Read more »