The Best Car Finance Blog In The World

Citroën C1 (Photo credit: Wikipedia)

I know I’m past having to worry about my kids having to insure their first car at 17 but I still feel the pain, and even more so today, when premiums of several thousands of pounds are asked for on cars costing a few hundreds. According to the AA the average policy for a 17-22 year old is £3,000. As a result I’ve had a trawl around to see what Read more »

Lots of lenders and brokers are starting to quote lease rentals based on 6 rentals in advance in order to make the monthly rentals appear low. It also helps with underwriting as the higher the initial rental, the lower the risk. However, I still try to stick with 3 rentals in advance which may make the monthly cost look high but it makes the initial rental Read more »

The credit system in the UK is in need of a really good shake up. Credit decisions seem to be made based on some very iffy information and totally illogical. Take two people doing similar jobs, earning the same amount of money who both apply for credit on similar cars. The first client has a perfect, unblemished record. He has a mortgage and a couple of Read more »

As more companies understand the risk attached to allowing employees to drive their own cars on company business, many have decided to avoid the risk of the car not being in roadworthy condition or the driver driving a car that isn’t properly insured by renting cars as required. Avis have recognised this and has also turned its attention to businesses for its growth. They are not only targeting the large fleets but also Read more »

Small businesses are finding it more difficult to finance vehicles using their traditional and most popular methods of finance, HP, business loans and overdraft. It seems that more are now turning to leasing, according to Fleet News, as it is easier to arrange the finance, reduces the risk and spreads the funding around. Last year, according to the Finance and Leasing Association (FLA), financing new and used cars to Read more »

There has been an upsurge in companies known as claims management companies who claim to rid you of credit card and loan debt by claiming that contracts are ‘unenforceable’. In an investigation the BBC found that some firms were claiming very high success rates as high as 93% but when pushed could not provide evidence of anything like that. They were also accused of using misleading statements by Read more »

As companies make redundancies it is likely that drivers will have to cover larger territories, drive for longer periods and cover greater distances. The fear is that back problems will increase rapidly and lead to more sickness. With Bluetooth connection and auxiliary power outlets in cars it is now possible for company cars to be used as mobile offices causing more workers to be sitting in them to work. The Read more »

Underwriting is becoming a bit of a nightmare with lenders seemingly running out of money. It’s all very frustrating as I have loads of enquiries and proposals but far too many are being declined for credit, a situation that will only get worse. Applicants need to take more care over their credit and avoid any adverse or suffer the very severe consequences. Also consider the amount you are prepared to pay up front Read more »

Even in these enlightened times and a greater awareness of employer responsibilities when it comes to health and safety at work relating to those who drive a car on business, a recent survey revealed that a third of drivers opt for the cash alternative to a company car. This is so dangerous as drivers who need as much money as they can save to simply pay their household bills, Read more »