The full extent of the UK’s “grey fleet” is revealed in the most comprehensive report into private vehicles used for business. The nation’s grey fleet comprises 14 million cars – 40 per cent of all vehicles on the road – and costs employers more than £5.5bn a year in mileage claims and car allowances. Many are used in the public sector instead of council or government vehicles. According … [Read more...]
Finance
Welsh Government statement on Circuit of Wales
Revised investment plans for the proposed Circuit of Wales were yesterday rejected for a second time by the Welsh Government. Ken Skates AM, Cabinet Secretary for Economy and Infrastructure said in a statement to the Senedd and media yesterday afternoon, "I would like to update Members on progress with the Circuit of Wales project following a meeting I had earlier today with Michael Carrick, … [Read more...]
Audi sports cars are A-rated for low running costs
Audi sports cars come with an A-rating for low costs. The latest analysis from cap hpi looks at the total cost of ownership to reveal the 10 sports cars with the lowest motoring costs over the first 3 years. Once all the servicing, fuel and other motoring costs are taken into account, which cars perform the best? The Audi TT Coupe 1.8FSI sports 2DR has the lowest total cost of ownership, … [Read more...]
Pump prices not fuelling EU exit row
A pump price rise has not fuelled the row over Britain voting to leave the EU, says the RAC. RAC fuel spokesman Simon Williams said, “Despite the dramatic fall in the strength of the pound in the aftermath of Britain’s referendum vote to leave the European Union there has not been as big an effect on wholesale fuel prices as might have been expected. This means forecourt prices may only rise … [Read more...]
Motorists will face uncertainty of Brexit for years, says AA
The AA stresses there are many unanswered Brexit questions and that it will take months, possibly years, to negotiate a complete picture for motoring and the motor industry in the UK. The following is the AA's best understanding of the immediate implications. Fuel Prices In terms of the price of petrol at the pumps, there will be a period of instability as the market begins to … [Read more...]
Outlander sparks fly with hefty cut
Mitsubishi has effectively slashed the price of its Outlander PHEV by £2,500. Calling it a finance deposit contribution with 0% APR, the offer is available on cars registered between before 28 September. The Mitsubishi Outlander PHEV is exempt from road tax and qualifies for the Government’s £2,500 plug-in car grant and company car drivers can reap the reward of 7% Benefit in Kind tax (BIK), … [Read more...]
Play the smart card to protect yourself
Play the "smart card" when buying a new car or bike and protect yourself from losing everything if a dealer goes bust or the vehicle is not what you expected. That’s the advice from the National Association of Commercial Finance Brokers. Many buyers go for personal loans or pay entirely in cash but while that may appear cheaper you could lose out. If you pay just a £1 of the price with a … [Read more...]
New car registrations hit 14 year high
New car registrations were the highest for 14 years in May. SMMT said 203,585 cars were registered in the month, the highest May figure since 2002. It was a steady 2.5% growth over the same month last year, and follows the trend of the previous two months, as fleet registrations drove the growth, with an 8.8% rise counterbalancing a -3.0% fall in registrations to private customers. Demand … [Read more...]
Dealer failings leave them open to prosecution & penalties
The average used car dealer is carrying out three provenance checks per vehicle over the course of a sale, according to data compiled by the RAC. Looking at typical usage of the recently launched RAC Passport for dealers, it appears that a check is made when they are considering acquiring a vehicle, once more when it is put on sale and again before it is delivered to its buyer. Robert … [Read more...]
Personal loan rates threaten dealers’ offers
Dealers are facing a new threat to profit margins as research reveals the impact on specialist car finance take-up of aggressively low new High Street personal loan rates. The warning comes from new and used car online distance sales specialist Buyacar.co.uk, which generates consumer sales orders for major franchise dealers. Buyacar.co.uk has identified a marked slow-down in the take-up of … [Read more...]