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It would seem that the motor industry is doing quite well over the pond in the US as their economy continues to grow mildly. Low interest rates and the need for many to replace cars that they have retained through the recession have been credited for the slight increase in sales over October last year. The sales of ‘light vehicles’ (cars) last month rose Read more »

Noticed a bit more of a jam on the way into work in the morning or maybe a little more difficulty parking in the local car park at the weekend? Probably not as the UK car parc (the number of cars on our roads) has reduced a little over the past couple of years as we have been hit by recession but the reason I mention it is that the number of cars on the Read more »

As companies look at various ways to raise money, as we slowly emerge from recession, some are now looking at their company cars as a possible way to raise funds for expansion. For those that don’t want to approach their bank to increase their borrowings this could be a good alternative. The scheme, known as sale and leaseback, is an arrangement between a leasing company and the customer whereby the leasing Read more »

The Department for Transport has released figures that show a decrease in the number of vehicles on the road during the first quarter of this year. Car traffic decreased by 3% while traffic on motorways fell by 2%. However light van traffic increased by 2%, most of whom were on their mobiles if my experiences are anything to go by! Congestion times also decreased with the inter-urban journey delays dropping from 3.9 minutes to 3.65 minutes per 10 miles. Journey times remained the same for urban trips at 3.34 minutes per mile. See, I’m an absolute mine of information! By Graham Hill

We expect to see some changes in ownership of car manufacturers as we come out of recession, the latest of which is the increased ownership of Chrysler by Fiat. The deal will include Jeep and Dodge. Fiat took a 20% stake in ailing Chrysler last summer and have announced an increase in their stake to 35% if targets are met over the next 2 years. Chrysler registrations were down by 42.8% last year over 2008. Future Read more »

According to reports by trade valuation guides, Glass’s Guide and CAP, the setting of residual values will become more difficult this year due to future uncertainties. Last year values increased as a result of the scrappage scheme, which removed cars from the system, fewer new cars were registered and more lease cars had their leases extended forcing up used car values in the middle of a recession because supply fell Read more »

Hindsight is great isn’t it? We can identify exactly where we went wrong and occasionally where we went right! When the recession started to bite, many businesses and individuals, who were leasing their cars and due to change, decided to extend their leases. Not such a bad thing if the lease was only 2 years in the first place but many of those that extended from 3 years to 4 years have maybe regretted that decision. And Read more »

The Government is planning to apply a £15 surcharge to fixed penalties. Known as a victim’s surcharge it is currently applied to more serious offences such as criminal damage or domestic violence and can only be handed out by the courts. It was introduced in 2007 as a way to contribute towards the victim support services. The recently announced plans will attach the surcharge to fixed penalties where the Read more »

 Well here we are into a new year already. Hope you had a great Christmas and New Year celebration. Last year wasn’t as good as it should have been but didn’t end up as bad as I thought it might do due to an enthusiastic flurry in December. Unlike the last recession, during which we struggled to find clients that wanted to take out finance, I had about 5 times as many people looking for finance in this recession than I Read more »

It’s been a mixed year for us in the car leasing business. Cars have become more and more difficult to source and lenders have pulled out of the broker market in their droves but we have still managed to find some pretty good deals to keep the interest going. We are all uncertain about next year as we are still in recession and manufacturers are still struggling to meet demand but one thing is for sure, I’ll still be pushing Read more »