Archive for January, 2010

Toyota Auris 2010

Monday, January 25th, 2010

You could be forgiven in thinking that no much has happened to the Auris but Toyota have been busy and there are significant changes to the car with a new bonnet, grille fog lights and bumper, with a revised design to the rear and the addition of indicator lights on the wing mirrors.  Inside there are new dials and a redesigned centre console, they have also added in a new soft touch material for part of the dashboard.

Toyota have also changed the suspension which provides better handling and has also adjusted the power steering, all on the feed back of it customers.

The most popular model in the UK is the TR trim and they come with 16″ alloy wheel, climate control, air conditioning, front fog lights, a six-speaker audio system, retractable door mirrors and all round electric windows and has the full range of 1.3 and 1.6 petrol engine and 1.4 turbo diesel. The cheaper T2 model with has 15″ steel wheels and four speaker audio has the smaller engine.

At the top of Auris range is the SR which has 1.6 petrol engine comes only in the five door version but you get 17″alloys, rear privacy glass and a rear spoiler.

A hybrid version of the Auris, a HSD will be available in the UK in July, but to date no price yet

Leasing brokers improve sector’s code of conduct

Thursday, January 21st, 2010

The BVRLA Leasing Broker Committee has strengthened its code of conduct as part of its efforts to improve standards of professionalism and customer service in the sector.

The enhanced code, which took effect from 1 January, places more emphasis on after-sale service and requires all BVRLA leasing broker members to play an active role in dealing with customer queries and complaints.

It ask them to provide clear guidance on how cancellations are made and communicated together with details of circumstances in which a customer may be liable for cancellation charges.

The updated code also requires broker members to make the full terms of any business they sign available to the leasing company that is funding the deal in order to improve transparency and to raise standards.

“The Leasing Broker committee has been instrumental in helping us make these necessary changes to the code of conduct” said John Lewis chief executive of the BVRLA “This revised code reflects current business practices and legislation and will instill greater confidence among our member’s customers”.

The strengthened leasing broker code of conduct is the first of a series of measures that the BVRLA is implementing to improve broker standards. The association is looking to introduce a new accreditation process for leasing broker staff and a set of best practice guidelines for customer service, focusing on whole-life contract management, including the end-of-lease period.

Created in autumn 2007, the BVRLA Leasing Broker Committee has concentrated much of its efforts on improving customer service, with some promising results. The percentage of leasing broker members subject to complaints referred to the BVRLA Conciliation Service has fallen from 13% in 2008 to 5% in 2009.

What Is Purchase Lease?

Wednesday, January 20th, 2010

Purchase lease starts with the retail value of the car and then the leasing company works out what the car should be worth in the future, this is know as the residual value, they take one away from the other and divide up over the term and you get the monthly rental. Therefore the better a car holds it value the better the deal.

What you pay, first there is a deposit which usually is about three months payment and then there is the monthly repayments and finally the end balloon payment, you do not have the option to hand the car back. Most lease period are two to four years and most companies allow settlement of the agreement at any point during the contract.

PROS AND CONS

Luxury/High End Cars Lease purchase is well suited to this end of the market as you must take on the residual value risk and the higher the residual value the lower the repayments

Company asset Lease purchase is useful to companies that want to retain the vehicle as an asset

Low monthly payments – these are usually cheaper than hire purchase, but you still have the full protection of the Consumer Credit Act.

Balance Sheet – the vehicle can appear on the balance sheet and you can write down the value against taxable profits

Ownership once the balloon payment is made then it is yours.

The Cons

The balloon payment – you must have the finance to pay this it is not optional and in some cases the actual worth of the car may be less than the residual, dependant on the market place

VAT is not recoverable, vat is only recoverable when the vehicle is used only  for business use.

Ownership – the car is yours and you have the risk of the residual value, maintenance and disposal.

 

Who is suits lease purchase?

For private individual it is a good option if you want long term finance agreement and it may make the car of your choice more affordable there is not mileage tie and so you can set this as low or high as you want this will reflect on the final residual value.

For Businesses as listed above the vehicle can go on the balance sheet and the lower payments frees up cash flow, whilst the vehicle becomes an asset.

Honda Jazz

Tuesday, January 19th, 2010

The Honda Jazz is proving itself to be a “right good buy” with its ample load space and high spec equiptment, but coupling this with great fuel economy and low emmission it is firmly holding onto its residual value, thus making the Honda Jazz into a good investment.

70+ Question

Monday, January 18th, 2010

The myth that older drivers are less safe has been blown out of the water with the current finding from the Institute of Advanced Motorists who found that only eight per cent of drives are over 70 and they are involved in around four per cent of injury crashes, but of the fifteen per cent of drivers who are in their teen and twenties, thirty four per cent are involved in injury crashes.

In general older people rely more on their own transport and tend to make more trips than their much younger counterparts, and the spokesman Greg Lewis from Age Concern stated “We believe that where drivers wish to continue behind the wheel beyond the age of 70 only convincing reasons should prevent them from doing so”

Further the IAM have said rather than preventing older people from driving the additional risk should be assessed and then appropriate training implemented. In fact the greatest risk to this group is of being killed or injured being 5 times higher than a younger person only due to their increased physical frailty.

Some of the main findings were:

In the next 20 years the number of male drivers over 70 will double and female drivers will triple

No particular age was identified where there is sudden increase in crash involvements

Drivers over 70 are safer on bends and overtaking that 50 year olds but are more at risk on roundabouts, junctions and slip roads

Older drivers self regulate and are less likely to drive in poor conditions

Over the age 85 you are four times more likely to have caused a crash than to have been an innocent victim.

Crashes in which older women are to blame peak about five years earlier that those for older men.

In summary the IAM belives that there is no case for compulsory retesting of older drivers at a set age and indeed more research into the best age to renew a licence together with discussion on restricted licensing as well as bans.

Peugeot 3008 Wins What Car?

Friday, January 15th, 2010

Peugeot’s 3008 mini-MPV has won the 2010 What Car? Car of the Year the judges were impressed with the cars space as well as practicality, Jon Goodman MD of Peugeot made the following comments

” Everyone at Peugeot is delighted to have won the prestigious What Car? Car of the Year award with the 3008, Just like What Car? our customers appreciate our designers’ clever thinking, indeed so much so that we have had to signifcantly increase production to meet demand since it launch, no other car manufacturer has won this award more than Peugeot and it is a fantastic achievement at the start of the 200th year for the brand to win both the overall prize with the 3008 and aslo the best MPV category with the new 5008, and with the highly anticipated RCZ coming to market later this year, we belive 2010 will prove to be a landmark year for Peugeot”

Skoda Yeti 1.8 TSI SE Manual

Wednesday, January 13th, 2010

The four wheel drive version of the Skoda has a large boot easily folded seats and with the sliding ability allows for great storage, they have also added in hooks for shopping.

The mpg of 35.3 isn’t great but on the economy drive it is capable of 47mpg so the driver can have a significent impact of the fuel consumption.

Overall the Yeti is a solid buy.

Your New Car…..

Monday, January 11th, 2010

So you would like a new car, you have seen the adverts talked to your friends and then taken a wander into a dealership so that you can see the car in all its glory, all shiny and new. You will of course compare prices, discounts both in the local dealers and on the internet.

The final step, you buy your new car and this will be either with your savings or a loan, you will need to add the interest into your calculations, as well as the road tax for the time you have the car and not forgetting deprecation when costing your total motoring costs.

Maintenance costs will be comparable if you kept the car for the same length as a contract, ie: 24 or 36 months, but if you decided to keep it longer the maintenance costs on a 3 year plus car start to go through the roof.

Time passes and another new car is needed again you know what you want but you also have to get rid of your current car, now this could be through the local paper with people coming round haggling and of course the waiting in for them to turn up or you could part exchange with the dealer although perhaps the best price won’t be achieved, however you go it will cost you money.

 

So what is the answer to these dilemmas?

Leasing could be the answer to all the niggles of car buying, leasing in the USA is huge and now the UK is the most advanced car leasing market within Europe, buying thousands of new cars, leasing and then recycling back into the used car market.

If you look to change your car regularly, every 2 or 3 years then leasing works out the least expensive option not only providing the keen pricing of the vehicles by the buying power of the big leasing companies but also taking away the cost and the hassle of the disposal at the end of the contract.

 

So why choose Contract Hire?

  • Fixed costs for the whole period
  • Reliable Brand New car every 2 or 3 years
  • No used car value fluctuations
  • Reduced administration
  • Car leasing contracts are available with or without maintenance (which covers routine maintenance and servicing costs)
  • Takes advantage of the buying power of Leaseline Car leasing and their whole of market trading.

Low monthly rentals

Rentals are based on a small initial outlay and then the monthly payments are fixed which helps with personal budgeting. You pay the monthly rental and then at the end of the term you simply hand the car back and providing it meets the condition and mileage stated in the contract, there is nothing to pay.

 

Damage and mileage

Any excess mileage is stated in the contract and is not a penalty simply a cost and any damage must fall within the strict guidelines BVRLA fair wear and tear.

 

Summing it up

You have low fixed cost rentals, no hassle in selling the car at the end. Minimum maintenance costs as most new cars come with 3 or 5 year Full Manufacturer’s warranty, includes Road tax for the complete term.

 

I am a Self Employed.

 

Car leasing is available to you too and with all the same benefits of a new car every two to three years, with low rentals and no disposal problems.

Carmakers launch fleet offensive

Friday, January 8th, 2010

Car makers are predicting a tough 2010 without the scrappage scheme to boost sales, and they are turning back to fleet buyers to pick up much of the slack.

Commenting today on new car registrations for 2009, which were the lowest for nearly 15 years, Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders said that ‘stronger demand’ was required from fleet and business buyers.

According to BVRLA chief executive John Lewis, the fleet sector could replace the scrappage scheme as the motor industry’s saviour in 2010.

“2009 brought a real slump in the business car market, which saw its share of new car registrations fall below 50% for the first time in 16 years as companies put off their buying decisions and chose to run their existing fleets for longer before replacing them,” he said.

“These vehicles will need to be replaced soon and with an economic recovery underway and firms beginning to recruit again, we expect fleet car sales to pass the million mark in 2010, providing a vital shot in the arm for manufacturers.”

Manufacturers have already signalled their new marketing priorities by building up the size of their fleet sales teams.

Any rebound in business sales will be especially welcome as these vehicles tend to be higher-spec, more executive models that are more profitable for manufacturers.

“Without the taxpayer-funded scrappage scheme to support them, retail sales are set to slump dramatically this year so it is not surprising that carmakers are already launching a charm offensive on their fleet customers in an attempt to regain share in the vital business market,” Mr Lewis said.

Jaguar XF 3.0D

Thursday, January 7th, 2010

Jaguar XF 3.0 Diesel S Luxury

From the stiched leather to the wood the attention to detail is beyond anything else in this price range and the people at Jaguar will tell you all about the crystal- tipped piezp and twin-turbo chargers which all add to making a more powerful engine than its predessor whilst all the while more efficent with less CO2 emittions.In face this new twin-turbo V6 engine delivers 275bhp a third more than the 2.7 V6 whist being ten per cent more efficent.

On the road the engine is just so smooth and glides through the six speed automatic gearbox as though gliding accross ice. The only minor hitch was the road holding on 19 inch wheels over poor surfaced roads.

The XF also has strong residual value prediction from CAP 29% after four years/80000 miles and while it can be said this is due to the cars all round appeal, the lack of sales in the comparative market plays it part, obviously it does not compete with the 5 Series, E Class and A6, however should Jaguar decide to fit a four cylinder diesel in the XF then no doubt this will be attractive to the fleet market.