February 4, 2012
Car Buying Guide
Sales of used cars using dealer finance rose by 21% in August when compared to the same month last year, according to the latest motor finance statistics from the Finance & Leasing Association (FLA). However, sales of new cars to consumers and businesses using motor finance were down by 12% and 26% respectively. August is always a quiet month … [Read more...]
For those of you who thought bankers drafts were as good as cash, think again. It takes up to 5 days for a BD to clear and if it is stolen or a forgery your car can be long gone before the bank or you realise leaving you with no car and no money. In that case what is the point of a bankers draft over a cheque? … [Read more...]
By providing bogus details in a finance application or selling a vehicle that has outstanding finance, car buyers may not realise they're committing a serious criminal offence. This was the warning from the Finance and Leasing Association (FLA), which has just released new statistics showing almost 2,500 fraudulent motor finance applications in the … [Read more...]
The rate of business insolvencies for the automotive industry fell from .12% in April 2009 to .08% in April this year, based on the latest Insolvency and Late Payment indices from Experian®, the worldwide information services company. In addition to witnessing a year-on-year decrease, the automotive industry cut in half the rate of insolvencies … [Read more...]
Car dealers are taking buyers for a ride by not being crystal clear regarding exactly how much interest they are going to pay on a car, says Which? Car. The consumer magazine sent three researchers to 15 car showrooms throughout the UK belonging to 5 of the leading brands (Audi, Citroen, Fiat, Peugeot and Vauxhall) in January 2010. The discussions … [Read more...]
The full scope and scale of the UK motor industry has been highlighted today with the publication of “Motor Industry Facts 2010” the Society of Motor Manufacturers and Traders’ (SMMT) annual pocket guide to the motor industry. Illustrating the role of the UK motor industry throughout the full lifecycle of a vehicle, the 2010 booklet … [Read more...]
Prices at auction seem to be showing no sign of slowing as good quality low mileage cars remain scarce, and dealers are already feeling the effects of the end of scrappage and wondering how they will fill the gap. Buyers need to look carefully over the coming weeks and months for manufacturers offering their dealers incentives to shift more … [Read more...]
The latest figures released by the Finance and Leasing Association have revealed that the return of the 17.5% VAT rate and heavy snowfall impacted on sales in January, but consumer new car finance sales were still up almost a quarter on last year Consumers bought 23% more new cars using motor finance through dealers in January this year than in … [Read more...]
We often highlight at Motor Trade Insider the fact that the actual selling of a car is only a very small part of how the modern car dealer attempts to gain a profit and apart from the aftersales route and traditional finance packages there are now masses of products which can be sold as 'bolt ons' but which can easily make the whole transaction … [Read more...]
If you ask anyone’s opinion on almost anything they will generally start by looking at the subject of conversation totally from their own perspective. However once you ask them to look at the bigger picture they will invariably soften their stance and concede that maybe there is a different way of looking at things. In the motor trade, like many … [Read more...]
Consumers are responding to rises in motoring costs and challenging economic conditions by deferring routine vehicle repair, servicing and maintenance jobs, according to a survey carried out this month on www.glass.co.uk - the Glass's Guide used car valuation website. Findings from the survey revealed that almost half (46 per cent) have deferred … [Read more...]
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