Tag: PCP

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Latest developments in leasing company remarketing to be discussed at VRA’s March meeting

The latest developments in leasing company remarketing is the theme of the Vehicle Remarketing Association’s next meeting, taking place on 14 March at GEFCO in Coventry. Key presentations will include Dean Bowkett of Bowkett Consulting, who has just completed a comprehensive report on high-level developments in the leasing sector and how they are likely to

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Voluntary terminations at record high, according to G3 Remarketing

The voluntary termination (VT) of personal contract purchase (PCP) and hire purchase agreements (HP) are at an all-time high, according to G3 Remarketing. The motoring specialist deals with and disposes of nearly 1,000 VTs each month for a broad range of funders, and has seen a 35% increase in these cars going through its auction,

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car mechanics

RETAIL DEMAND FOR USED CARS REMAINS STRONG DESPITE HIGH VOLUME OF PCP CARS COMING BACK INTO THE MARKET

The used car market is showing no signs of cooling down despite the high volume of PCP cars coming back into dealers as part exchanges, according to the Aston Barclay Group. It has reported very strong demand from franchised and independent dealers as they buy used cars at auction to satisfy a healthy retail demand.

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car mechanics

Arrival of PCPs for caravans and motorhomes set to boost UK staycations

Development will bring new, younger buyers into market for leisure vehicles, says Glass’s Staycations or stay-at-home holidays in the UK are set for a boost with, for the first time, PCPs becoming widely available in the motorhome and touring caravan market. According to vehicle data provider Glass’s, the finance product, which has revolutionised the new

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car mechanics

Impending used car flood could mean ‘these may be the good old days’

Fears about the effects of a flood of used cars in a market propped-up by PCPs could mean that we are currently living in “the good old days”, a financial analyst has suggested. Speaking at the Vehicle Remarketing Association’s annual conference, Woburn Consulting Group financial services consultant Peter de Rousset-Hall, said that the current consumer-led

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car mechanics

PCP risk bubbles up

The annual conference for the Vehicle Remarketing Association, held last week, provided a great melting pot for views on the state of the used car market and many delegates were keen to ask if the used car market was facing a crash. Experts on the question and answer panels were in agreement that a crash

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car mechanics

Independents stocking up ahead of year-end

High levels of confidence in the used car sector has prompted independent dealers to increase their stock levels in order to compete strongly in the post-Christmas market, according to David Mercer, managing director of NextGear Capital. “We’re seeing stock levels going up after the September plate-change as the part-exchanges work their way through the auctions.

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car mechanics

Wear and tear costs impact PCPs as used values decline

The cost of wear and tear on PCP vehicles is becoming more critical as used car values come under pressure. That’s the view of Rupert Pontin, head of valuations at Glass’s who said that damage to cars was becoming more of an issue as the used market became more exacting about vehicle condition “We have

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car mechanics

PCP drivers facing bigger end of life recharges

Customers who have bought a car on PCP may find that dealers become stricter about end-of-life recharges as used vehicle values come under increasing pressure, says Glass’s. Rupert Pontin, head of valuations, said that damage to cars was becoming more of an issue as the used market became more exacting about vehicle condition. Common repairs

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car mechanics

Industry call to ban clocking of used cars and PCP returns

A crackdown on vehicle clocking is being called for by the National Franchised Dealers Association and the National Association of Motor Auctions. The organisations, both part of the RMI, last night lobbied Conservative MP Heather Wheeler, Parliamentary Private Secretary to the Attorney General and member of the All Party Parliamentary Group for Automotive, to spread

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car mechanics

PCP deals are tempting customers out of the 10 year old car market, says Glass’s

Car owners that have kept their vehicle for over 10 years are coming back to the new car market due to strong PCP deals, according to Glass’s. Rupert Pontin, head of valuations at Glass’s, said there has been a 50% increase on the number of cars over 10.5 years old being sold at auction in

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car mechanics

Demand for under two year old cars is weakening “by the day” due to increasing pre-registrations

The number of nearly new cars in the retail market has nearly doubled in the last six months, indicating that manufacturers are pre-registering ever larger numbers, reports Glass’s. According to Glass’s Radar sales tracking product, the number of sub-one year old cars sold in the UK during March was 91% higher than six months ago,

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