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Sorry about this but it all seems like bad news this week. Manheim DeFleet, the defleeting arm of the major auction house, has reported that average end of lease refurbishment charges have increased from £265 a year ago to £290 this year. As they explain contract hire companies see damage recovery as a mainstream activity. A few years ago they would budget to collect around 35% of all charges whereas these days they look to collect around 70%. David Mercer of Manheim DeFleet Services said Read more »

There are now some wide fluctuations in monthly contract hire rentals as many factors come into play. Amid fears that the industry is predicting the collapse of one of the major contract hire companies before the end of the year and possibly the loss of a few smaller ones, the industry is in a mess with rates all over the place. It isn’t uncommon for rates to have a spread of £50 + VAT per month between the cheapest and most expensive rates on the same car. Fleet Operations have found that in the case of a Ford Focus the spread was Read more »

I have received a couple of words of warning about topping your oil up. The first is probably fairly obvious, make sure that the car is on flat ground when you check it. It may seem obvious but in cars where electronic sensors are fitted drivers often forget that when the level is checked the car still needs to be on flat ground. But the lesser known piece of advice is not to overfill the engine with oil. This is especially important with diesels as the oil can find its way into the exhaust and damage the particulate filter which can be very expensive to replace and would not be covered by the warranty. By Graham Hill

Considering the latest announcements relating to electric car production and the government emphasising its efforts to support electric cars by increasing incentives it was a bit of a surprise to hear Bosch announce that petrol and diesel cars will be by far the most dominant vehicles for the next 20 years. They went on to explain that this would be due to planned improvements that are due to take place in the internal combustion engine and as a result of an insufficient understanding of technology which has led to unrealistic forecasts about electric vehicles. Dr Bernd Bohr, chairman of Bosch Automotive group, predicted that Read more »

The RAC and AA have both warned drivers about the need for them to consider their roadside assistance cover. As more drivers are holding onto their cars for longer, during the recession, either by not replacing them or through lease extensions, they are forgetting to take out roadside assistance cover. Very often the car is covered from new for a period of three years but even if you car is only a year old you may find that the cover for years 2 & 3 is less than year one cover. This is often because Read more »

In the current climate there is lots of talk about guarantees and indemnities. Let’s be clear, before a lender considers a guarantor he must be fairly certain that the borrower can repay his debts. You may be someone who has never had credit before or you have had a credit card that has hardly been used, so you have very little credit history on which to form an opinion. But everything about you looks good, home, job, bank etc and you certainly have no adverse information stored on your credit file but for that extra bit of comfort the lender may be happy to Read more »

I read some daft things when researching the content of this weekly newsletter, the latest is the talking Mini that is to be launched by BMW. To celebrate its 50^th birthday BMW is using Smart technology to allow a special version of the Mini to say ‘Hello’, ‘Goodbye’ and ‘See you soon’ as well as offer a range of tips to make your driving safer and more economical. I understand that the car, which will be called the Camden, will suggest to the driver when it detects high speed ‘Take it easy and we’ll save fuel at the same time.’ Have you ever heard Read more »

If you are a business you need to be aware of the tax changes coming into force in April. I have been through this before but as we are now nearly there let me refresh your memory: 

• Cars with CO2 emissions of more than 160g/km will be written down at 10% on a reducing balance basis. Read more »

Cloning is still on the increase but what do you do if you suspect that your car may have had it’s number plate cloned or you are in fact suspicious about any part of the car you are about to buy, is the registration document correct (V5C) or is the MOT certificate genuine? There is a new organisation that has been set up to combat vehicle fraud called the Vehicle Safe Trading Advisory Group. You can get lots of information and help by visiting their website www.vstag.co.uk By Graham Hill

Fuel prices seem to have settled for a while but concerns have been raised about the differential between petrol and diesel. In November 2007 the difference was 2.6 pence per litre. When the cost of a barrel of oil increased to $147 in July 2008 the price differential increased to 14 pence per litre. Whilst oil prices have dropped back to less than $50 per barrel the differential between the two fuels is still at 3 times the Read more »