All articles by MF Editorial
MF Editorial
Aston Martin selects new stock funding system
Aston Martin selects new stock funding system APAK Groups wholesale finance system, WFS, has been selected by Aston Martin for use throughout its dealer network
ING Car lease: Fleet’s £4.5m tyre deal
ING Car lease: Fleets £4.5m tyre deal ING Car Lease has concluded a deal with ATS Euromaster to supply Michelin tyres and other fast-fit services to its 46,000-strong fleet
Unrealistic RVs for ex-lease cars
Unrealistic RVs for ex-lease cars Research by data company CAP and auctioneers BCA has identified a trend of underperformance by ex-fleet and lease cars in the resale arena, as significant numbers of these vehicles fail to conform to required condition standards for auctions CAP compared the typical condition of cars sent for disposal at auction with reserve prices set by fleet vendors, and found of the 300 vehicles on offer, 29 per cent were in CAP Clean condition while a further 25 per cent were just below Clean, but above average, condition.
Darling defers decisions
After two successive rounds of consultative proposals on capital allowances (CAs) and related issues, it had been expected that final decisions would be announced at this time, for implementation next April Instead HM Revenue & Customs has merely published a summary of the responses to its last consultation document issued in March this year, with a promise of a decision on future policy in the Budget statement due next March
Are you working with the ‘new Europeans’?
There seems to be a lot written about migrants from Central and Eastern Europe coming to the UK and taking our jobs but are you selling them our cars as a quid pro quo?
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Group action call from RMIF
Group action call from RMIF The Retail Motor Industry Federation (RMIF) has put forward the case for trade associations to be allowed to lead group actions to the Office of Fair Trading The RMIF said: At present, a named individual member of a UK trade body must instigate legal proceedings within a group action, albeit with the backing and support of other identified members, and of their trade association.
Hydrogen and MBAs
Hydrogen and MBAs The Liberal Democrats have issued a press release saying petrol-engined vehicles should be phased out by 2040 They want a major upgrade of the rail network, a new north-south high-speed rail line and a wholesale move to renewable energy sources such as hydrogen fuelled vehicles
Capital Bank: Lender launches insurance sales service for dealers
Motor finance lender Capital Bank has called on dealers not to overlook the potential income stream they can receive from sales of insurance at the point of sale, and is launching a new service to help dealers sell insurance as part of a finance package.
Customers may demand proof of green intentions
Customers may demand proof of green intentions Manufacturers are making cars that are greener than ever, and consumers are increasingly aware of buying green: two trends that could adversely affect dealers who do not make sure their environmental credentials are on show,warned consultancy Network Automotive Managing director Colin Bruder pointed out that corporate efforts to clean up and green up their acts have been growing in importance recently and that dealers and maintenance outlets who fail to follow their lead may come under pressure to change this stance in the near future from both private and fleet customers
Lombard loses VAT recovery case
In a case which could have major implications for motor finance houses and lessors, Lombard has lost an appeal on VAT treatment of costs of hire purchase agreements Lombard, the asset finance division of the Royal Bank of Scotland, has been in dispute with HM Revenue & Customs since 2005 over VAT paid on overheads of hire purchase deals.