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I have read several reports recently complaining about the motor insurance industry, it’s pretty much in turmoil with anomalies, inefficiencies over charging and deceit. I reported recently that some companies are now charging substantial arrangement and documentation fees in order to keep the monthly premiums low. We all know that there are a trillion terms in each policy making straight comparison very difficult so we tend to go for the cheapest and hope for the best. By that I mean try Read more »

In 2008 there were 14 million sat navs in use in the UK, by now it is assumed that over half of all cars on the UK roads (30 million) now has a driver with a sat nav. According to psychologist Dr Victoria Bourne, writing in Fleet News, research shows that up to 78% of accidents are caused by distractions. The question is – are sat navs more distracting than a mobile phone? A secondary question is – are sat navs less distracting than a paper map? The reason why the safety experts and police are Read more »

After years of warnings in my newsletter and on my blog the British Vehicle Rental and Leasing Association (BVRLA) has acknowledged that there are crooks offering leasing online who con consumers and small businesses out of money. I have had countless letters and emails over the years from those that have leased vehicles saying that they have lost money by trusting online leasing providers who had great web sites and extremely friendly and helpful phone support. They certainly Read more »

As you know, I try to report some of the most dopey things that happen in the motor industry. This week insurance companies come under fire. As I have reported on several occasions there is a strong move towards having two sets of tyres, one set for the summer and another set for the harsher winters we seem to be experiencing. For some it seems to make sense and I must say in the last dumping of the white stuff I’m sure that if I had winter tyres fitted I would have been able to drive my care Read more »

The AA has suggested that the way we pay for Road Fund Licences be changed to a monthly direct debit system whilst retaining the option to pay annually, in a similar way to TV licences. As they pointed out through their head of public affairs, Paul Watters, ‘We always favour methods that make payment easier.’ It therefore makes sense to introduce a method that helps to collect more of the overdue licences especially as the latest Government figures show that road tax evasion has increased by Read more »

This year has been a bit of a struggle for many industry sectors but not so much for the motor industry. Following the scrappage scheme it was expected that the motor industry would contract and dealerships close, something I personally didn’t think would happen. In anticipation of a potential downturn the manufacturers started to scale down production in 2008/9, some would say too far, as virtually every new car drifted out to long delivery lead times as demand remained relatively high. This Read more »

A Fleet News survey has shocked many involved in the leasing industry but confirms my long held views that end of lease charges have been spiraling out of control. And this is just the tip of the iceberg because the survey has been carried out amongst the larger fleets only, the companies valued by the lessors and invariably looked after. When questioned the customers have complained that they have received recharges for stone chips and minor scuffs, the sort of damage that had been previously Read more »

Recently we have seen another couple of leasing companies amalgamate reducing the competition in the marketplace. This isn’t good news for the industry and it certainly isn’t good news for the customers as it continues to erode the competition. There are also fewer leasing companies dealing with brokers and the withdrawal of  consumer business by some, most notably Lombard, has resulted in a major contraction of the UK lease market and fewer great deals available. There has been an Read more »

During many of my discussions and presentations it is often clear that those using vehicle finance or personal loans think that there is some sort of master format that means they don’t have to bother reading it. Those that may understand that this isn’t the case may ask which terms are important, the ones they need to read? Whether it is only necessary to understand the terms in a lease as opposed to a personal loan. The fact is that EVERY term in a contract is important and should be read and Read more »

Insurance and fuel duty increases have been blamed for the inflation busting increase of 6.3% announced by the RAC in their Cost of Motoring Index. The average cost has increased by £346 over last year’s cost taking it up to £6,000. Depreciation has also had an effect although some costs such as Vehicle Excise Duty (car tax) and car finance have dropped. The annual study assesses the running costs of 17 new cars from the Toyota Yaris to the Land Rover Discovery. Each model’s bills are weighted Read more »