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You’ve held onto your car through many years and every time you think her life has come to an end, miraculously you have managed to stretch a few more miles out of her.  The thought of saying goodbye to the car you took on your first date, headed out on your favourite road trip and got you home through a storm when others were stranded, has been a little too much for you.  Sadly though, it’s time to admit her driving days are over.

If you are lucky you may find someone who is just starting out as a driver and is desperate to get their hands on a cheap project car.  Who know’s with a little bit of TLC somebody could nurse her back to life.  Or you could consider setting her off on a new life at the race track.  Her engine is kaput but she has an incredible chassis so maybe someone could give her an exciting future.  The likely route? Junk cars for cash.  Sorry, as hard as that is going to be, we have to let go at some point right?

Good.  Now that is sorted out, let’s have a look at your new options.  A younger, safer more reliable workhorse that is going to look after you, and your children if you have them, slowly becoming full of brilliant memories you will make in the future.

Car finance packages are an excellent way of getting into a brand spanking new car.  There are so many options right now including hire purchase solutions which can help bring the monthly costs down a touch.  You could also consider checking with your personal bank and seeing what rates they offer.  Sometimes the interest rate on a bank loan is a little lower.  Although the bonus of dealer finance is you sometimes find they offer some incentives too.  Such a discount on the OTR price of the car.  Dealers make money out of selling you finance so they are able to move a little more on price sometimes.  Also a few manufacturers offer free insurance for a year or free servicing.  So speak to your local car traders and find out what they have to offer.

If you don’t have the budget to go new and the finance is something you want to avoid then the second-hand car market is the place for you.  With plenty of internet auction sites specialising in second-hand motors, you can cut out the middleman and head straight for the seller.  You will need mechanical knowledge, so if you are light on that then find a friend or a local mechanic who will come with you.  Make sure you do a history check on the car too.  You don’t want to be buying something that ought to be in the junkyard you just sent your old faithful to.
Buying a new car is a huge commitment and a massive financial investment so take your time and do your research.  However the peace of mind that comes from having a newer car with tons of modern safety features is worth the wait and the money.  Happy driving!

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Plenty of cars and other vehicles that are written off by insurance companies are not necessarily as dead as a dodo. In fact, many can be fixed up and sent back onto the road in no time at all, and for any car buyer looking for a good deal, a write-off can prove tempting. However, you do need to be careful, as there are plenty of ways you could end up being taken for a – very dangerous – ride. Let’s take a closer look at some of the basics of buying a write-off, and what you need to do to avoid trouble.

The value in written-off cars

Cars are written-off because they are damaged beyond a point where insurance companies feel it will cost to fix. So if your car is worth $5,000 at the point of an accident, but repairs will cost more than that, no insurer is likely to give you a payout – and will write-off our vehicle. For a car buyer, the value lies in a written-off car that doesn’t cost as much to repair as the insurance providers think. However, some cars are written off merely because they are dangerous, and it’s important to understand the difference.

Check the Written Off Vehicle Register

To accurately establish the condition of any vehicle you are thinking of buying, you should always check with the Written Off Vehicle Register (WOVR). This initiative was created to prevent dodgy repair companies fixing up write-offs and putting them back into the market as used cars, rather than ex-write-offs. It’s a process known as ‘rebirthing’ and often results in the car getting a new identity. The truth is that whether you are buying new or a write-off, you should always check this service out regardless.

Find repair services

Obviously, the best value in buying a previously written off vehicle relies on you doing the repairs. They are a great option for a DIY project, of course, but you should be able to find plenty of professionals to help if you don’t have the skills. Check your local business directory for mechanics with experience of working with write-offs and smash repairs. Bear in mind that buying a write-off is not for the faint of heart, and it’s important to be able to estimate the actual cost of any damage. Some repair jobs could exceed your expectations, so always get it inspected by a qualified individual first.

Return to the road

You will need to have a string of safety checks on your new purchase when it is fixed, to prove its roadworthiness. If you don’t go through this process, the car will be illegal – and you will end up in a lot of trouble if caught. You should also bear in mind that when you sell it on, it will be necessary to declare it as a write-off. And this could cause you problems, as most people will turn their backs on a car as soon as they realise its history of being a write-off. However, if you want to save money and grab a bargain vehicle that could last you for many years, the write-off market is worth a look – just be careful what you buy!

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There are a million and one reasons why you might need to consider buying cars, trucks, or vans for your business. Whether it’s a little company car or an entire fleet of delivery vehicles, there are plenty of advantages of investing in wheels for your enterprise.

Cars are flexible and can act as an enticing offer to prospective employees. Vans are handy for deliveries and are also the workhorse of many a business. And if you need to deliver on a  massive scale – possibly across international borders – then trucks will be an essential purchase.

The big question is, how do you go about investing in a fleet of vehicles? Let’s take a look at everything you need to know – and what to expect.

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Is it worth buying?

First of all, you will need to establish whether buying vehicles will be more cost-effective than leasing them. In many cases, leasing your fleet of vehicles will be a better move, as it helps you control costs and spread them evenly over a year. Bear in mind that depreciation comes into play when you buy new vehicles, too, which you won’t have to worry about in a leasing plan. However, in some cases – if you are using plots of cars, for example – it is sometimes better to buy than lease. When you buy multiple vehicles, you will often get a fleet discount, and there may be other accounting reasons for making a purchase.  

What are the costs?

The expenses of owning a fleet of vehicles will vary depending on what – and how many – you buy. You will need to run regular maintenance programs to ensure your assets are in good shape and there are plenty of one-off costs to consider, such as using a 24/7 truck breakdown service or bringing in mechanics. There’s the cost of storage to consider, too – lorries and vans take up a lot of room, and you will need to pay for that space. Finally, insurance is a must if you have a business fleet.

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What systems do I need?

You will also need to invest in a robust fleet management and logistics program to ensure you are keeping track of everything. Fuel costs, health, and safety, routes, license checks – they are all needed when you own a fleet and are employing drivers. Logistics is a vital part of any business that uses vehicles, and the goal for every company in this situation is to cut costs without impacting service quality.

Who should drive them?

While company cars can be offered to any employee with a license, it’s a little different for vans and trucks. It is imperative that you hire drivers that are sensible on the roads, and have clean licenses. You should also offer plenty of training, to ensure they always comply with health and safety issues. It might be worth buying a fleet with telematics technology on board, too, so that you can ensure that all drivers are using their vehicles at the appropriate speeds.

OK, so there you have it – a brief guide to some of the basics of buying a fleet for your business. I hope it has helped!

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Driving has become a rite of passage for most of us. But the cost of owning a car is constantly going up. Before taking the decision to become a road user, it’s important to understand the finances behind owning a car so that you don’t end up driving yourself into a sea of debt. The costs are high and you’ll need some money behind you to get you started, but there are ways to reduce spending and budget your driving so that it’s relatively affordable.  

The sale price

The first cost to consider when buying a car is the sale price. In most cases, buying privately is cheaper than buying from a dealer – although this does depend a lot on the condition of the car.

Budget how much you’re willing to spend before shopping around. You may wish to save up for a few months before. Alternatively, you may be able to take out a loan (your bank may be able to offer you one or you could try out a loan site such as personalmoneystore.com).

When shopping around, don’t be afraid to haggle. Whilst bartering isn’t something we’re used to in Western society, it’s expected in bigger sales trades such as cars. Be wary of salesmen that try to throw in extra costs on top of the original price. And never buy a car without seeing it first!

Depreciation

Buying a car second-hand is definitely the cheapest way to do it. Those willing to take any vehicle will be surprised by how cheaply you can get some older cars – sometimes only for a couple hundred pounds.

Unlike property, most motor vehicles will get cheaper the more they age. This is known as ‘depreciation’.  It’s important to take this into account when buying a car as whilst you may be able to get some second-hand cars remarkably cheap – they will most certainly have few miles left on the clock. This is fine if you’re buying a temporary convenience vehicle to get you from A to B. But if you’ve got a long road trip planned or hope to travel regular long distances over a long period of time, an older car may not be appropriate. Repair costs over the years may add up and you could pay triple the amount the car is actually worth. When it comes to selling the car, you might not be able to get much for it. You may even be forced to scrap it – losing you money.

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Insurance

Whilst the sale price is a big cost to consider, car insurance can sometimes work out even more expensive. All road vehicles in the UK must be covered by third-party insurance at least. If you’re a young driver you can expect to pay an extortionate amount at first, but this premium will go down over the years.

Many things can raise your insurance rate, just as many factors can lower it. Advanced driver courses and black box insurance are some drastic measures you can take to initially lower insurance. As time goes by, you should then try to avoid collecting speeding tickets or driving convictions (such as being caught driving on your phone) as these will raise your insurance.

Unfortunately making a claim can also raise insurance costs whether or not you were the perpetrator. Some companies will introduce a ‘no claims bonus’ offer to sway people into not making claims. When involved in an accident, always weigh up whether you’re more likely to spend or save money from making a claim.

Tax

All car owners must pay road tax – unless your vehicle is electric or built before 1973. Road tax is charged in bands, each band corresponding to how green your vehicle is. Band A applies to electric cars in which there are no emissions. The further up the bands that your car is situated, the more tax you will have to pay (so look for a car with a low band to avoid extra costs!).

Brand new cars pay higher tax their first year. In the second year this is reduced, sometimes by half the amount.

If you are not using a car you don’t have to pay tax on it, so long as you store it off road and declare it to the DVLA. You will have to sign a Statutory Off Road Notification (SORN).

MOT

Cars that are over three years old have to go through an annual check known as an MOT test. This test checks that your car is safe and roadworthy.

Most garages will offer MOTs – you should shop around for prices before committing. Be wary of some cheaper MOTs from garages with a low reputation. Occasionally, you may be able to save costs on your MOT test by making a few basic checks first such as checking the horn, the oil and the tyres.

The tester will let you know of any compulsory repairs that need to be made. You should also talk with the tester afterwards to gauge an idea of any future problems that you can nip early in the bud cheaply before they get worse.

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Fuel

Fuel is expensive and prices are unlikely to fall dramatically any time soon. You can save money by driving economically. Many modern cars will have in-built features to help you cut down on fuel consumption such as indicators to tell you when the best time is to change gear. You should consider how economical the car is before buying. Certain extras can also be bought to save fuel consumption such as fuel savers and vapour devices.

Tyres

Tyres will gradually wear over time and are expensive to replace – so be careful with them. You can prevent tyre wear by keeping your tyres constantly filled up with air. Sadly, petrol stations charge you to use ‘air’, but it’s worth the cost to prevent you going through multiple tyres.

When buying new tyres don’t be tempted into purchasing cheaper half-worn tyres. These will no doubt blow out more quickly and you’ll back buying new tyres sooner than you need to be.

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Servicing and repairs

Whilst careful driving can prevent damage, as well as wear and tear, you can never prepare for all faults. Some may be electronic problems which could be a result of a manufacturing fault. Reading up on car reviews before buying can help warn you of any common faults.

Timing belts will need to be replaced once a vehicle has reached the end of its mileage. This is an expensive job, but failing to get fixed could result in a catastrophic engine failure – which nobody wants!

Warning lights will tell you when there are faults in your vehicle. Some may not be too serious, but others such as brake faults should be seen to straight away. As with all the above, remember to shop around and find the best deal. If you’re making a claim as a result of a crash or vandalism, always let your insurance company know first before making repairs.

Parking

A final cost to driving that you may want to consider is parking. Where you can avoid having to pay parking charges, do it! In some cities this may be less avoidable. Always park in places that you’re allowed to park to avoid paying fines. Unless you’re disabled, parking in disabled bays and on yellow lines will get you a ticket. Consider whether your neighbourhood has parking restrictions and weigh up these costs before buying a car.

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