The Best Car Finance Blog In The World

And so the debate goes on regarding speed cameras. I first of all reported that many local authorities were switching them off as they could no longer afford to keep them operating. Then the public stepped in and complained that they were necessary if we are not to see a rise in deaths on the road, supported by safety bodies. So now it seems that some local authorities are willing to rent a Gatso for £5,000 per annum if local people want to keep particular cameras operating. When Oxfordshire Read more �

It would seem that magistrates have gone soft, as a result of the recession, if you have accidentally reached the automatic driving ban of 12 points on your licence. Some say this is wrong and that the ban should be automatically imposed, especially in extreme cases like the driver who was allowed to keep his licence even after he amassed 54 Read more �

The gap is starting to open up between petrol and diesel at the pumps again, pushing drivers towards petrol cars. There is also continued concern that people that take diesels fitted with particulate filters, as all new diesel cars have to have fitted, do not understand that they need to run the car at over 50mph for at least 20 minutes in one session per month in order to create the chemical reaction that clears out the filter. If this isn’t done the filter clogs and needs to be replaced costing hundreds of Read more �

The dangers of using insurance comparison sites has been highlighted by incidents in which payouts could be avoided by the insurers because drivers have been confused by some of the questions that may have been handled differently and more clearly if an actual broker helped you to compete your application form. As most people know insurers have to be made aware of any modifications that have been fitted to the car. If the mods have not been declared the insurer could refuse payout in Read more �

Graham Hill’s gadget of the week is unfortunately only available on Ford cars but I have to say it seems like quite a good idea. It’s called a MirrorNavi and is essentially a sat nav built into the mirror – more like an extension to the left of the mirror with a 3.5” colour touch screen. It has no visible wires and can be installed into your car in an hour for £299 + labour. It will help to reduce clutter, according to Ford and Read more �

One of the last meetings I attended at which we discussed the state of the motor finance industry, we were told by one of the leading accountancy practices in the UK along with a couple of large leasing operations that the biggest problem faced by the industry was lack of liquidity or in other words lack of money to lend to you and me. This has been confirmed by the Society of Motor Manufacturers and Traders Read more �

According to Experian, the credit reference agency, automotive fraud increased by 35% during the first half of 2010. 34 in every 10,000 applications were considered potentially criminal. The majority were recorded in the second quarter showing an upward trend. First party fraud overtook third party identity fraud during April to June as the most common type of attempted fraud. First party fraud is typically where individuals attempt to hide adverse credit history or misrepresent their employment status to try and secure credit and other Read more �

On the 14^th September I attended a meeting of the good and great in the vehicle finance industry at the London offices of Grant Thornton. The purpose was to debate the challenges of the industry which would be reported in the journal of the industry, Motor Finance. There were many conflicting views but the bottom line is that we are still in for a tough time. Clearly there is a lack of liquidity in the vehicle finance Read more �

In the course of one week I’ve had what could be best described as a lively debate with two customers, over the contract profile that they took their cars on. One had his car on a 3+23 profile and the other 3+35. I have explained the way the profile works to the point of tedium, reported it on the blog and given examples but people are still confused and I really can’t see why? I think we all accept that a car Read more �

If you are about to finance a car in your own name as opposed to through a business, you will need to allow a little extra time between ordering, signing the finance agreement and collection/delivery of the new car. According to the new EU Consumer Credit Directive all agreements that fall within the terms of our own Consumer Credit Act must be given a 14 day cooling off period. In the past, if you signed the agreement on trade premises, for example at a dealership or the premises of a broker Read more �