All articles by Richard Irvine-Brown
Richard Irvine-Brown
FinanceAcar launch first car group coupon scheme
The scheme hangs on the ability of CarRush.co.uk to negotiate discounts on bulk purchases based on orders from customers, who in turn pay via a coupon scheme run by the website, and the company calculation that 80% of new car buyers opt for monthly payment.
Fleet Friday: Arval, Infiniti and van safety
Arval, the fleet arm of French bank BNP Paribas, recorded 3% growth year-on-year in size of fleet for 2011 to 687,000 vehicles and promises 2012 will see a focus on the quality of service and added value to customers.
BCA and Lex hit 103% CAP in convertibles sale
Over 500 cars have been sold at the latest of British Car Auctions (BCA) convertible car sales, averaging nearly £9,000 per car and 103% of CAP clean. The specialist sale in conjunction with fleet manager and funder Lex Autolease was held across two sites in Surrey and Manchester, with participants able to bid on vehicles at either location, and generated £4.5m in turnover. At a time when auctioneers are doing more and more to facilitate and attract live internet bidding, online traders acquired 252 (roughly half) of the convertibles on sale
Outstanding finance on 10% of motorbikes – HPI
A tenth of all motorbikes reviewed by vehicle checker HPI in 2011 had outstanding finance on them, while 7% had been written off by insurers and 7% had a number plate change in their history. A motorbike purchased with finance owed on it means the buyer may be liable for the debt as a new owner or could lose both the bike and their money should the original financer wish to reclaim the vehicle Bike finance has received a push from manufacturers of late with both Yamaha and Ducati launching a range of finance deals since the New Year, following 0% PCP offers in individual Ducati garages in 2011.
Fuel duty dominates UK fleet Budget response
Leading figures from the fleet sector have given a mixed response to the UK coalition governments 2012 budget on Wednesday, although displeasure at the coming rise in fuel duty was unambiguous. While several expect to benefit from a variety of corporate and personal tax reliefs, they have also bemoaned a lack of credit or action on the cost of fuel.
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Wholesale upturn for GMAC
The taking on by MG as preferred wholesale financing provider for dealerships, on top of the retail finance partnership agreed between the two companies in October 2011, is good news in turbulent times for GMAC which has recently taken on the SsangYong finance contract but lost the Vauxhall flexible finance offer to Santander Consumer Finance.
Tax changes given lukewarm welcome
The reduction in the top rate of income tax from 50p to 45p for those earning over £150,000 will give more spending power to the clientele of luxury vehicle specialist Bridford However, owner Tim Marlow said the high value of the cars Bridford finances rendered the tax reduction more likely to have a bearing on the length of the terms agreed and enable more to complete within three years instead of four, for example.
New car sales down further in EU than UK
February new car sales fell 9.7% year-on-year across the EU, according to the European Automobile Manufacturers Association (ACEA), and by 9.5% across all European nations according to information supplier Jato. Both sets of results pointed to a steeper decline than the 2.45% drop experienced in the UK. Total new car sales for the 27 EU nations in February stood at 888,878 and at 923,381when the European Free Trade Association (EFTA, comprising Iceland, Lichtenstein, Norway and Switzerland) is included, according to ACEA
Motors.co.uk bought by Manheim
Car services provider and auction specialist Manheim has acquired Motors.co.uk, the second-largest online used vehicle classified trader in the UK. Manheim chief executive John Bailey explained that it had been the companys strategy for some time to further facilitate the links between the wholesale and retail markets. Our dealer customers can look to us to supply them with their wholesale vehicles and then actively support their retail activity.
Alfa expect 50% take up of Giulietta PCP offer
FGA Capital-backed Italian marque Alfa Romeo claims its new PCP finance offer on the Alfa Giulietta is the most competitive yet. Predicting that UK customers would prefer to manage payments than spend savings, a spokesperson for Alfa Romeo said the company would expect about half of our retail customers to take advantage of the offer. The Lusso model Giulietta is on offer at £299 per month for 47 months, plus £299 as a deposit, until 31 March and comes with a £1500 contribution from Alfa Romeo UK and a spectrum of warranties and servicing, typically over three years.