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Thursday, 5 April 2018

British new van market falls 5.6% in March

Source: SMMT

British new van market falls 5.6% in March

The SMMT (The Society of Motor Manufacturers and Traders) announces a decline in LCV registrations, down 5.6% compared to last years figures with just under 60,000 new LCVs hitting UK roads last month.

It wasn't all bad news with vans weighing less than 2.0 tonnes, pickups and 4x4s all seeing demand increase, up 1.8%, 6.8% and 73.9% respectively.

Year-to-date, 94,374 new LCVs have been registered representing a drop of 3.7% on the first quarter in 2017, with the bulk of the decline in the market for vans weighing >2.5-3.5 tonnes.

A full run-down of the top ten registrations in March 2018 can be found below:

Top ten best-selling vans - March 2018

1. Ford Transit Custom - 9,397 registrations
2. Ford Transit - 5,255 registrations
3. Volkswagen Transporter - 4,292 registrations
4. Peugeot Partner - 3,019 registrations
5. Ford Transit Connect - 2,855 registrations
6. Vauxhall Vivaro - 2,736 registrations
7. Ford Ranger - 2,622 registrations
8. Citroen Berlingo - 2,391 registrations
9. Nissan Navara - 2,331 registrations
10. Mercedes-Benz Sprinter - 2,044 registrations

UK new car market falls 15.7% in March

Source: SMMT

UK new car market falls 15.7% in March

The Society of Motor Manufacturing and Traders (SMMT) has announced a decline in new car registrations for March 2018 falling 15.7% Y-o-Y with demand from business, fleet and private buyers all falling in March, down -14.3%, -15.0% and -16.5% respectively.

March 2017 was the biggest month ever for new car registrations as buyers took the opportunity to purchase vehicles before the new VED (Vehicle Excise Duty) Rates came into force in April 2017 and although registrations were down year-on-year, March 2018 was recorded as the fourth biggest March on record and continuing the trend with new car registrations having fallen for the 12th consecutive month, with year-to-date performance down -12.4%.

A full run-down of the top ten registrations in March 2018 can be found below:

Top ten best-selling cars - March 2018

1. Ford Fiesta - 19,272 registrations
2. Volkswagen Golf - 13,966 registrations
3. Nissan Qashqai - 12,018 registrations
4. Vauxhall Corsa - 11,718 registrations
5. Ford Focus - 9,403 registrations
6. Ford Kuga - 8,964 registrations
7. Mini - 8,720 registrations
8. Mercedes-Benz A Class - 7,184 registrations 
9. Mercedes-Benz C Class - 7,155 registrations
10. Kia Sportage - 6,583 registrations

Wednesday, 14 March 2018

New Car Registrations dip in February 2018

Source: SMMT

New Car Registrations dip in February 2018

The Society of Motor Manufacturing and Traders (SMMT) has announced 80,805 new cars were registered in February 2018 representing a 2.8% drop compared with February 2017, a month that is traditionally one of the quietest months of the year ahead of the March number plate change.

In first place and continuing on from January 2018, the Ford Fiesta reigned with 5,201 registrations beating the second placed Volkswagen Golf which registered 2,927 vehicles. Ford closed out the top three with their Ford Focus model registering 2,052 in February 2018.

The UK new car market has declined roughly 5.1% year-on-year with registrations by business, private and fleet buyers all dropping by 29.8%, 7.1% and 2.1% respectively.

A full run-down of the top ten registrations in February 2018 can be found below:

Top ten best-selling cars - February 2018

1. Ford Fiesta - 5,201 registrations
2. Volkswagen Golf - 2,927 registrations
3. Ford Focus - 2,052 registrations
4. Mercedes-Benz A Class - 1,671 registrations
5. Ford Kuga - 1,552 registrations
6. Vauxhall Mokka X - 1,525 registrations
7. Mini - 1,239 registrations
8. Mercedes-Benz C Class - 1,199 registrations
9. BMW 3 Series - 1,173 registrations
10. Kia Sportage - 1,152 registrations

Monday, 5 March 2018

UK new van market achieves positive growth in February 2018

Source: SMMT

UK new van market achieves positive growth in February 2018

The Society of Motor Manufacturing and Traders (SMMT) recently reported an increase in new light commercial vehicle sales up 6.4% to 14,135 units in February 2018 the best February performance in a decade.

This growth was driven by the medium vans sector weighing between 2.0-2.5 tonnes and pick-ups seeing double-digit growth, rising to 19.9% and 14.2% respectively. Large vans weighing 2.5-3.5 tonnes increased by 2.5% with car derived vans weighing less than 2.0 tonnes the only segment to see a decline down nearly 2.4%.

The top 10 best sellers in February 2018 were:

1) Ford Transit Custom - 2,064
2) Ford Transit - 1,831
3) Mercedes-Benz Sprinter - 970
4) Volkswagen Transporter - 936
5) Peugeot Partner - 856
6) Ford Transit Connect - 803
7) Citroen Berlingo - 604
8) Ford Ranger - 508
9) Vauxhall Vivaro - 490
10) Peugeot Boxer - 403

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Top 10 most stolen and recovered vehicles

Top 10 most stolen and recovered vehicles

The top 10 most stolen and recovered vehicles in 2017 has recently been revealed placing the Mercedes-Benz C Class in pole position for the first time, rising from 4th place in 2016 with the BMW X5 dropping to second place for only the second time since 2011.

TRACKER who conducted this research saw a 5% year-on-year increase in vehicle thefts and recoveries in 2017, exceeding 12.5 million in the total value of vehicles being stolen. A 30% increase has been seen in the number of stolen vehicles recovered by TRACKER since 2014.

The average value of stolen vehicles remained relatively static between 2016 and 2017, increasing slightly from £16,436 in 2016 to £16,977.26 last year.  A Rolls Royce Phantom worth around £120k was the most valuable stolen vehicle recovered in 2017 and the least valuable was a Vauxhall Signum Elite worth just £1,500.  30% of vehicles stolen in 2017 were worth less than £5,000, slightly up from 27% in 2016.

Tracker top 10 most stolen and recovered vehicles
1.Mercedes-Benz C-Class
2.BMW X5
3.Range Rover Sport
4.Mercedes-Benz E-Class
5.BMW 3 Series
6.Land Rover Discovery
7.Range Rover Autobiography
8.BMW M3
9.VW Golf
10. Audi RS4

Thursday, 22 February 2018

Drivers warned over fake insurance scams

Drivers warned over fake insurance scams

Police have warned that thousands of drivers are in danger of falling victim to fraudulent ghost car insurance scams.

Action Fraud, who are the national fraud and cybercrime reporting centre run by the City of London Police have discovered an increasing number of drivers who are being sold fraudulent policies via social media.

From November 2014 to October 2017, Action Fraud received 850 reports that related to ‘ghost broking’, with a total loss for individuals and organisations coming in at £631,000. On average each driver suffered a personal loss of £769 each.

A campaign to raise awareness of the scammers who were found to be targeting men aged 20 to 29 has been launched by the City of London Police’s Insurance Fraud Enforcement Department (IFED) having already taken action in 417 cases, including taking down one fraudster who was found to have issued 133 fake policies online with another being discovered to have made £59,000 from the scams.

The IEFD have warned there could be thousands of drivers still out there who are unaware that their policies are actually fake and in the event of a claim being needed, the policies won't pay out as well as the consequences of driving without valid insurance if the police were to pull the un-insured driver over.

IFED head Detective Chief Inspector Andy Fyfe said: “Ghost brokers trick unsuspecting victims with offers of heavily discounted car insurance, leaving them with a policy that isn’t worth the paper it’s written on and open to the severe harm that comes with driving without valid insurance.”

“As well as the personal harm experienced by victims, ghost brokers also cause financial harm to the insurance industry, driving up the cost of insurance premiums for all motorists.

“While an offer of cheap car insurance may seem tempting, falling victim to ghost broking will end up costing you far more in the long run – both in terms of money and your licence.”

It is vital that every young driver be aware of these insurance scams via Social Media. When considering insurance cover, it is advised to choose a reputable motor insurer that has been given the necessary permissions and falls in-line with regulatory compliance and can simply be checked that it is a legitimate business. Always ensure to check all of the paperwork you will receive from your insurer and it is worth remembering, if a deal sounds too good to be true then it probably is.

Tuesday, 20 February 2018

Why leasing a vehicle for your SME business could be more beneficial

Why leasing a vehicle for your SME business could be more beneficial

Over the past few years, debate has gone back and forth about the best way for businesses to manage their fleet purchases. Traditionally, businesses would purchase their vehicles outright however it has become more popular and cost effective to lease vehicles for your business.

Leasing has huge benefits financially, administratively and operationally for businesses, outsourcing the often difficult and time consuming vehicle search and management to experienced, dedicated professionals with the benefit that leasing companies are providing customers with access to affordable vehicle finance.

Buying a vehicle will tie up capital in a depreciating asset rather than investing capital elsewhere in the business that would have a more profound effect. The idea of paying for fleet expenditure in smaller, fixed, regular instalments rather than one large, upfront sum can be more appealing to many business owners. More often than not, leasing companies have access to a huge range of vehicles often at a greater discount than their outright purchasing counterparts.

When it comes to tax, leasing agreements allow businesses to pay VAT on the rental amount, rather than the purchase price and not upfront which would occur when purchasing a vehicle outright. Monthly repayments in a leasing agreement also count as a business expense, resulting in even greater tax efficiency.

Another benefit to leasing, is the removed hassle of servicing and maintenance on your vehicle, which is handled in a variety of ways by the vehicle funder, on top of the fact that if you lease a vehicle for 2 to 3 years, they are normally in their warranty period for the duration of the leasing agreement. Leasing agreements can include maintenance costs so that the task of chasing down vehicles for maintenance and organising on a per vehicle basis can be handed over to a professional organisation that can track your fleet and help handle the whole operation of managing your fleet.

In today's modern world, technology is advancing at a rate businesses don't often keep up with when purchasing their vehicles. When leasing a vehicle, selecting a modern vehicle with all the latest technological advancements that can be upgraded every couple of years is a huge benefit and allows optimal fleet management, rather than buying a van or car and having to take a hit on resale when it becomes outdated. As vehicle sophistication evolves, leasing provides businesses with the perfect way to access the very latest technology without breaking the bank.

Leasing agreements will typically offer flexible end-of-term options, meaning businesses have the option to remain in their vehicle or upgrade to the latest vehicle on a new leasing agreement. With businesses not having to take the residual value risk on vehicles as well as not having to pay large sums of money up-front, companies can put their capital to better use in other areas of the business.