The Best Car Finance Blog In The World

I am sitting here with a smirk on my face as I am surrounded by women who believe that they are less aggressive drivers than me and men in general! As if?

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

Well I can announce today, thanks to a survey carried out by telematics technology provider, In-Car Cleverness, that women are faster drivers than men – it’s official, we have the statistics and as we know statistics never lie!

In order to come up with this astounding piece of information they surveyed the driving habits of those driving rental cars. They monitored the hire of over 10,000 rental vehicles and found that female customers were more likely to exceed speed limits than men. In fact the survey showed that women exceeded the speed limit 17.5% more times than men.

Having said that they returned fewer damaged cars than men. In fact they found that 84% of cars returned with scratches, dents and punctures were driven by men. Hmmm. By Graham Hill

We all know that crooked private car park and land owners got their come upance when the Protection of Freedom Act 2012 was introduced that banned the clamping of cars on private land.

Have you ever, lost or stood on your car key (I use the expression ‘key’ lightly). My brother in law once had his BMW key eaten by their dog, just before the car was due to be returned at the end of the lease.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

He wasn’t too worried until he saw the cost of the replacement. I was staggered to read a report from company, Recover Me, whose founding director, Robin Reames, revealed the cost of replacement keys on the UK’s top 10 selling models. He explained that finding out the cost of a replacement key is nigh on impossible until you need to replace it.

Hence the reason for revealing the costs, which average £206 per car. Of course the reason why the costs are going up and will continue to rise is the amount of information stored within the circuitry of the key. It’s like a mini black box. I remember taking my BMW 7 series in for a service a couple of years ago and the service agent asked for my key, not to drive the car but to see what needed to be done!

In order to make sure you take good care of your car keys here is a list of the top 10 selling cars with the cost of the replacement key alongside:

1. Ford Fiesta                          £220
2. Ford Focus                          £220
3. Vauxhall Corsa                  £135
4. Vauxhall Astra`                £130
5. VW Golf                               £190
6. Nissan Qashqai                £280
7. Fiat 500                              £230
8. BMW 3 Series                    £216
9. VW Polo                             £210
10. BMW 1 Series                    £233

Shocking or what, worth their weight in gold – literally!! By Graham Hill

If you work in the finance industry you have probably been involved in debates and discussion over the last 12 months regarding some of the biggest changes to the consumer credit industry since the introduction of Hire Purchase in the 60’s. If you are a lender, broker, dealer or consumer (this includes small businesses that are small partnerships or sole traders) life will never be the same again.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

The Government passed over administration of the Consumer Credit Act from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) in April 2014. Since then confusion has reigned. I’m not going to talk about the affect on the lenders and the brokers but you need to understand the potential detrimental affect on you as a customer.

In the past when a dealer, broker, shop or anyone else had to provide advice on finance they had to hold a Consumer Credit Licence. It was a totally meaningless piece of paper, we all knew that, as long as you didn’t have a criminal record or were an undischarged bankrupt you could apply for and be granted a licence. It was simple but actually meaningless.

So when the FCA took over and changed the system from a single licence with a number of categories such as credit broking, debt collection, debt advice etc. we now have a three tier system, named Full Permission, Limited Permission and Appointed Representative. It was all beginning to look good, at last there was a body to police the consumer credit industry that might get rid of a large number of crooks and ensure that new entrants and even those already providing advice were properly qualified.

However, the opposite seems to be happening. In order to apply for permission brokers and dealers will need to spend a lot of money, not only in application costs but ongoing administration and reporting costs. This will result in some smaller used car dealers withdrawing their finance offering because the new regulations are far too complicated for them to understand.

It will also cause some brokers to withdraw for similar reasons so you as a customer will have less choice. It also means that the cost of being regulated will increase sharply so those costs will be reflected in the finance charges. On the other hand brokers who offer commercial finance to limited companies, i.e. non consumers are also being encouraged to apply for Full Permission.

I find this approach by trade bodies and lenders obnoxious. These companies with little or no experience of consumer finance will be able to provide customers any consumer product they wish from personal loans to HP and buy to let mortgages. It’s a disgrace, these brokers should never be given Full Permission but if recent history is anything to go by every applicant will be granted Full Permission with very few rejections.

Sounds like Consumer Credit Licences all over again. If you are currently considering various car finance options make sure that you are talking to someone who is properly qualified. By Graham Hill

Drivers have been complaining for years that the MPG figures provided by car manufacturers are inaccurate and don’t reflect every day driving. Correct, the figures are calculated by applying very strict conditions within a controlled environment to best reflect the conditions, known as Urban, Extra Urban and Combined.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

The fact is that every car is subjected to exactly the same tests so if nothing else the resultant figures provide a fairly accurate way of comparing the results of different models. It can’t be done any other way. If you were to drive the same Ford Fiesta round the same route in the middle of Bath on three separate days I guarantee you will achieve three different results.

Add to that changing weather conditions along with different driving styles and the results become meaningless and can vary massively. So let’s stop whinging on about the manufacturers’ fuel consumption figures and simply use them as a guide as to which cars use more fuel than others. In America the situation is different.

There have been a string of high profile cases involving Kia, Hyundai and Ford after they all admitted leading customers astray over fuel consumption figures. The cases resulted in hefty fines and compensation being paid to car buyers.

But before you start opening Word in order to start your claims process the Society of Motor Manufacturers and Traders (SMMT) say it is unlikely that any similar claim in the UK would succeed as the EU testing regime does not claim to represent real world driving conditions. Sorry ladies and gentlemen but simply drop the suggested MPG by 15 to 20, that should give you a more accurate figure. By Graham Hill

I’m in the process of setting up a new marketing business that will give those who sign into my new scheme access to a wide range of discounts and bonuses from cheap MOT, servicing and repairs to cheap subscriptions to motor magazines, special offers on tyres, discounts or added free benefits to roadside breakdowns and much more.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

One of the latest developments is the addition of cheap legal advice from legal specialists. The need for such a service was highlighted when I read about the buyer of a new Audi A1which developed a fault after just 2 days.

The car was taken back by the supplying dealer for him to repair but after 2 weeks the fault had only just been identified as a fault with the ABS control unit. Unfortunately the dealer couldn’t find a fix so the driver, quite rightly demanded a replacement car. After a lot of buggering about without a solution the driver involved Auto Express who contacted Audi who agreed that the driver should have the car replaced.

By this stage I would have been on Audi’s rooftop with their MD dangling by his boot laces pleading to supply a new car even if he had to go to Germany to collect it himself. It is your legal right as well as claim compensation. In the end and no doubt as a gesture of bloody goodwill the driver not only had the car replaced but had the spec. upgraded to an S-Line.

We need a legal helpline for drivers to access in order to get rid of all the ignorance that exists about buyers legal rights. Watch this space, lots of exciting things happening this year. By Graham Hill

Conservative MP Sir Greg Knight has put forward a proposal to Transport Minister, John Hayes to turn off traffic lights on certain junctions at non busy times.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

I understand where he is coming from as I’m sure you do having spent what seems like ages stuck at a set of traffic lights with no other traffic about at all waiting for the lights to turn green. Apparently this isn’t as daft an idea as it might initially sound as it is fairly common in Europe. It saves electricity, it also saves fuel as drivers aren’t kept waiting at lights on tickover waiting for the lights to change.

I saw on our local news a few days ago that they were trialling such an idea in Reading town centre in order to keep busses flowing. The traffic lights were causing busses to bunch up so by the time the busses got out of the town passengers would see 2 or 3 busses all turn up together. By turning the traffic lights off at certain times it was found that busses were spread more evenly.

Whilst it might seem like a good idea Hayes has said that there are no immediate plans to switch off the traffic lights. So another good idea bites the dust! By Graham Hill

As most of my customers are aware you can now have your car serviced at any service or repair centre without the loss of the car’s warranty provided the work is in line with the conditions stipulated by the manufacturer.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

Since this European rule, known as Block Exemption, was introduced in 2003 it has meant that anyone who buys a new car carrying a manufacturer’s warranty can have their car serviced and maintained at a non-franchised dealer, thereby saving a substantial amount of money.

However, when you lease a car and you are responsible for the servicing of the vehicle, can the leasing company insist that you only have the car serviced at a main dealer as this would be a contradiction of the regulations? Again, regular readers will know that most leasing companies are happy for you to have the car serviced at non franchised dealers provided the work is carried out in line with the manufacturer’s instructions using original or compatible parts.

But you need to check your contract as these things have a habit of changing without notice. Mercedes-Benz changed their rules a few years ago so that if you return a lease car (including PCP) and the service work has been carried out by a non authorised service/repair centre they will impose an end of lease charge, in some cases, over £1,000, even though the car has been serviced on time and even using Mercedes original parts.

I took some legal advice on this and was advised that whilst the car is owned by the finance company they can include terms relating to the service and maintenance of the car. So whilst they may be out of line with the rest of the leasing industry they are not acting, on the face of it, illegally, albeit that they are acting outside the spirit of the law.

But there are two issues on which they could justify their stance. The first is the quality of the work which Mercedes could argue would be of a lower standard if carried out by a service centre. I would argue this every day of the week having received some of the worst services ever when I have had a Mercedes serviced by a main dealer in the past.

On the other side of the coin a judge might argue that a customer should be free, in an open market, and given the Block Exemption law, to choose where the car is serviced – it is the whole point of the law to make it competitive and stop the protectionist approach that most manufacturers had used when insisting that their cars are serviced at a main dealer or lose your warranty before it changed in 2003.

The other argument could relate to resale value of the car when it is returned which they could argue would be less than if the car had not been serviced by a main dealer. However, they list a scale of charges which could suggest a penalty, which in these circumstances could be considered illegal.

If, through breach of contract, you were to cause the other party a loss they can not charge anything above their losses incurred. Having spoken to many trade buyers over the years most would not draw a distinction between a car that has ‘Full Service History’ and ‘Full Mercedes Benz Service History’ so it might be difficult to prove their case against a customer in front of a judge.

If you have been charged a ‘penalty’ by MB Finance and you are unhappy about it you could take out a complaint through the Financial Ombudsman Service if you are a ‘consumer’. Putting MB Finance to one side the point of all this is that Halfords are about to launch an aggressive new campaign to take away a larger share of the £10 billion a year after care market from main dealers.

This comes on the back of the Auto Express Driver Power Survey in which a large number of dealer networks were criticised by drivers. Traditionally the Halfords target market has been 3 – 5 year old cars but the new approach will attract new to 3 year old car drivers looking to save up to 40% of the labour cost. They will be introducing new receptions that will look more like the pods you will see in an Apple store and they will offer a collect and return service.

The receptions will also have Wi-Fi facilities and you will even be able to watch your car being serviced on an iPad that they will provide for your use. So it may be worth considering Halfords for your next service but don’t forget to check your lease agreement first and don’t forget you can always negotiate with the main dealer before booking your car in for a service. By Graham Hill

After finally giving ‘drugalysers’ Home Office approval the police will begin roadside drug tests this year across England and Wales in order to crack down on drug driving.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

In future drivers won’t know whether they are to be given a drug test, be breathalysed or subjected to both when stopped by the police. The ‘drugalysers’ will analyse a saliva sample immediately for cannabis and cocaine. The downside is that the equipment cannot detect legal highs at the moment but future versions are expected to be able to detect a wide range of drugs, both legal and illegal.

At the moment if a police officer suspects that a driver is driving whilst under the influence of drugs they must arrest them, take them to the station in order to undergo time-consuming blood tests that must be carried out under medical supervision. Once in the police station the driver can argue that they are unable to give blood for medical reasons or religious beliefs.

All the time the drugs are leaving their system. The new equipment eliminates all this and provides an immediate reading. The kits will support the new drug offence coming into force in March but they are about to be used immediately by various police forces across the UK.

Policing Minister Mike Pennings said that most motorists have the same view about drug driving as they do about drink driving. He stated, ‘The Government is determined to drive the menace from our roads. Those who take the wheel while under the influence of drugs put their own lives at risk plus those of innocent motorists and their passengers.’ By Graham Hill