The Best Car Finance Blog In The World

During the recent cold spell a new type of crime has emerged causing the police to issue a warning. They are advising motorists not to leave their cars unattended whilst they wait for the screens to defrost, following a spate of incidents whereby cars have been stolen whilst left unattended with the engines running. The latest case was a Vauxhall Corsa stolen from a drive in Merthyr Tydfil when the owner left the engine running whilst he went back into his house. In another incident in Thurrock, Essex a man was de-icing his Peugeot when a thief got in and drove it away. The thief crashed the car causing £500 of damage, then ran off. The police have warned that motorists that warm their cars up this way are making it easy for thieves. Known as ‘frosting’ this type of theft will also leave drivers potentially without insurance cover as insurance companies may argue that the driver was not taking reasonable care. Heated windscreens will help to cut the number of frosting incidents but for those who want to clear the frost the best way is with some de-icer rather than leaving the engine running. Do you leave your engine running whilst clearing the ice off the windscreen? By Graham Hill

Related articles

• Car owners warned against ‘frosting’ car crime (money.marksandspencer.com)
• Mother clings to steering wheel after thief steals car as she scrapes ice from windscreen (dailymail.co.uk)

One of the most staggering things I reported recently was the running costs of used cars versus new cars, it was cheaper to run a new car than a used car. Now to add to the pain of used car motoring, statistics from secondary warranty suppler, Warranty Direct, shows that one in three repairs carried out on cars from 3 years old to seven years old is as a result of wear and tear. The small print in most of these warranty policies excludes such items so whilst motorists who take out these policies 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 »

If you were to have some major surgery, I’m sure you would need to know that the person carrying out the work was a qualified and capable surgeon with a history of successful operations. If not you may end up a paraplegic or worse still not survive the operation, so I’d say that it was quite important to feel confident that you are using a professional who is good at his job. On the other hand you may have a faulty gas appliance and need a repair carried out. Who would you call in to carry out the Read more »

Auto Express recently carried a story, explaining how Stephen Larkin from Newcastle ordered a Skoda in March and was told that delivery would be delivered by early July at the latest. After passing this date he decided to cancel the order and wrote to the dealer saying he wanted to cancel the order as they hadn’t delivered the car and asked for his £1,000 deposit back. He sent numerous letters and calls to the dealer without joy along with no help from Skoda, all they said was that it was down to 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 »

I have had a number of clients put back their lease decisions until later next year which is of course their prerogative. However, as I’ve been pointing out, doing this is a huge gamble. First of all it’s important to point out that we will never return to the good old days of lots of cars sitting around in dealerships and import centres waiting for manufacturers to Read more »

I had an interesting chat with a lawyer friend of mine a few days ago. He had returned a lease car at the end of the agreement and received a bill for the repair work that he was angry about for a few reasons. As far as he was concerned, the work was either unnecessary, as a result of fair wear and tear, or the charges were too high for the work required. Read more »