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As we can see from my BMW 7 Series deal of the week, things are starting to improve at the big end of the market. In a prestige, sporting and executive auction held at British Car Auctions in Nottingham 300 dealers attended with 216 bidding online resulting in top models achieving 114% of CAP clean price (that’s trade value to you and me). The rest made 100-104% which is excellent considering the fact that last year the Read more »

We’ve heard that house prices have increased again but that we shouldn’t take this as a sign that the economy is recovering as it is simply a result of supply and demand. Few houses available with more buyers looking. I’m now hoping that the same rationale is being used when leasing companies view the recent drop in used car prices following nearly a year of increases. The improved returns through auction was Read more »

Brokers don’t work for the leasing companies, they actually work for their clients, in the same way as an accountant or a solicitor does but without the need for a qualification, just a Consumer Credit Licence, which can be obtained fairly easily if the program about loan sharks aired by BBC’s Panorama is anything to go by. When I started as a broker, many years ago, the situation was the same, we worked for our Read more »

More and more people that either bought or leased cars over the last two years are either holding onto their cars or extending their leases. Leasing companies have been encouraging extensions putting back the need to sell the end of lease car till as late as possible in the belief that used car prices will recover. But as I reported recently this drop in demand for new cars hasn’t led to a mass of unsold cars finding their way Read more »

Motoring costs have increased by 19% in the last year according to the RAC’s Annual Cost of Motoring Index. The average cost of running a family car has increased to £2,435, an increase of £277. This equates to £47 per week or 20.3 pence per mile. The index found that depreciation, which is causing major problems for rental and leasing companies is on average £826 more per year. The happy bunnies at the RAC have predicted that costs will rise further with volatile fuel prices and the uncertain economic climate. By Graham Hill