Cheaper electric cars are urgently needed for motorists to accelerate their switch away from petrol and diesel models, says an industry financial expert. Fleets need to be able to buy electric vehicles now that used car buyers will want in four years’ time – but are being hampered by a lack of choice, FleetCheck is warning. Peter Golding, managing director … [Read more...]
Buyers beware but enjoy your new car
If you're thinking of looking about this weekend and buying a new 24-plate car from 1 March, you need to carefully consider what you are doing and realise you may loose a deposit, says The Motor Ombudsman. It has prepared a handy checklist to take you through the steps to satisfaction and avoid annoying mistakes. … [Read more...]
Driving up depreciation mile by mile
A new study by on-line marketplace Carwow has found how mileage severely impacts the value of used cars. The study reveals car valuations can drop by a staggering 27% once they tip over the 60,000-mile mark. As a result, owners looking to sell are now being advised to do so before their vehicle hits this 60k mileage milestone, typically when a new car's … [Read more...]
EU want to ease old cars off the roads
With traditional engines being outlawed by 2050 or sooner in some countries, information has emerged regarding the European Union’s plan to restrict repairs on older vehicles, reports EuroWeekly. The proposal, originating from the European Commission and yet to be ratified, aims to phase out older, more polluting vehicles in favour of environmentally … [Read more...]
Essential questions to ask before buying a used car
If you cannot afford to buy a new-plated car next month there is a massive choice of used cars out there and whether for convenience, cost, or quality, Brits’ interest in used cars is showing no sign of waning. Nevertheless, buying a used car is still a significant financial commitment, which is why it’s essential to be prepared for the process. In fact, … [Read more...]
Newslines 9 February
Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades. The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial … [Read more...]
1.8 M drivers have The Knowledge
The Motor Ombudsman’s online Knowledge Base is five years old. Accessible on every page of the Ombudsman’s website, TheMotorOmbudsman.org, the Knowledge Base was introduced in January 2019 to help consumers find answers to frequently-asked questions, and information in relation to buying and owning a car. During the last half-decade, the Knowledge Base … [Read more...]
Good time to buy used cars, suggests survey
There’s been a sharp month-on-month rise in car dealers reporting the condition of used stock is improving – up from 20% in December to 33% now. Research from Startline’s January Used Car Tracker also shows that the percentage stating stock is getting older is also down from 30% to 23%. Additionally, 48% say that supply is improving - the best figure since … [Read more...]
Depreciation decisions don’t count for many drivers
Four in ten drivers do not consider depreciation when they are buying a car, according to a 2023 Opinium survey of 2,000 drivers. Depreciation is the difference between what you pay for a car and the amount you can get back when you sell or trade it in and a new car generally loses approximately 20% of its value when it is driven off the forecourt, and then … [Read more...]
EVs being priced out of reach for many, says analysis
The cost-of-living crisis is causing a drop in demand for electric vehicles as these cars are typically more expensive than petrol equivalents, according to Compare the Market comparison site. Sales of new electric cars have declined by 17.1% year-on-year in November according to figures from the Society of Motor Manufacturers and … [Read more...]
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