car lease news

A survey by online solutions company Ebbon-Dacs has revealed that the most popular colour for leasing is black with a 34% share in the market.

The survey also revealed that white is gaining fast however, the poll took into account the most popularly leased vehicles in the UK. The BMW 3 Series, Audi A4, Ford Mondeo/Focus, Vauxhall Astra and Volkswagen Golf.

When looking at specific models black was the most popular colour for the 3 series, A4 and Golf whereas the Mondeo and Astra were a hit in silver.

The sample was over 10,000 leased vehicles from various companies around the country Rob Pilkington, managing director of the Leaselink International division of Ebbon-Dacs, said:

“The study was conducted for the general interest of the leasing sector and we did not know what we would find. Interestingly, it reveals the colour of vehicles that will predominate when they come back to the second-hand market in three to four years time.

There are a number of companies offering the cheapest contract hire and it’s advisable to shop around when trying to find a deal as with all things different companies offer different offers.

According to John Lewis, chief executive of the BVRLA, the survey’s findings will show their use when these cars are in the used car market in the next 2/3 years he said:

“Our members analyse a huge amount of data when projecting a vehicle’s value in three or four years time and this kind of trending information will help them form a more accurate picture.”

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The rising cost of fuel has made running a car personally and corporately a lot more expensive. GEM Motoring Assist is offering car lease customers advice and training on how to save money and keep running costs down.

GEM CEO David Williams said:

“Many of the tips are quite simple, yet many people do not realise just how much of an impact they could have.”

Tips range from making sure all tyres are inflated to the correct pressure which GEM state can increase fuel economy “noticeably”. GEM also advise people to remove any unnecessary weight from vehicles to reduce pressure on the engine and in turn lower fuel consumption.

Local business directors have also commented saying that a ‘back to basics’ approach on transport will help see companies with fleet vehicles through this difficult time. Even the recent cut on fuel duty has been met with scepticism from business experts. Julian Richards, MD of a North West haulage company told the Manchester Evening News (MEN):

“As a haulage firm, we’re spending £2 million on fuel every year, the announcement means we will be able to save money for our customers, but it’s still very small savings.”

Money can further be saved by leasing vehicles, many companies offer service costs and select repairs inclusive of rental costs. Executive car owners can save through this as the cost of servicing vehicles such as Mercedes can BMW can be substantial. Options are available to lease both fleet and individual vehicles.

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The United Kingdoms largest online used car retailer has entered administration today.

AutoQuake.com had claimed to be the biggest retailer of used cars online in the UK but have now appointed restructuring experts MCR to oversee an administration order and to look for a possible buyer.

The site promised to sell a vehicle for at least 10% less than any other car supermarket, advertising that they sold over 1000 vehicles every month which they had sourced from car leasing companies. However official figures show that AutoQuake was struggling to sell this number in a year.

Dermot Halpin, AutoQuake.com CEO said:

“We came into the market and punched totally above our weight online.”

When asked the reasons behind the demise of the company Mr Halpin said:

” It’s because of the way we approached customer acquisition – it was entirely online, we bought demand inline with inventory, we had acquisition costs of around £90 per vehicle, compared with around £300 per vehicle for our competitors.”

The firm saved money by avoiding costly showroom and costs and salesperson salaries with the website offering over 40 pages of every vehicle and the option to arrange a test drive.

Experts have said that although there is no concrete evidence Tesco may be interested in adding the business to their portfolio.

Source – Which.co.uk

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