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Chitty Chitty Bang Bang sale goes with a whimper

Tuesday, May 17th, 2011

The sale of perhaps one of the most famous cars in film history for a meagre £500,000 shows that the austerity period being endured by citizens of Western Europe and America is nowhere near coming to an end. The winning bidder will be getting motor insurance quotes for a vehicle that came in at almost half the price auctioneers were expecting.

Old banger made especially for the film

The car was the famous “old banger” from the Film Chitty Chitty Bang Bang which was described by the children in the film as “fantasmagorical” a new word for a new “old car”. For in fact the star of the film was made in the 1960’s by Ford engineers to resemble a car from the early days of motoring history, and they did an excellent job.

Multi- functional car had several copies

The car had its original number plate GEN II, a V-6 engine, an aluminium hood, a boat deck made from cedar and the assorted brass fittings from a collection of Edwardian age cars. A little known fact was that there were several models of the car made to suit the different filming conditions and techniques, because, of course, in the film the car could fly and sail as well as travel on the highways. There was only one model of the car that actually was a working vehicle and the owners may now be rueing their decision to transport the car from its home in England for the sale in Hollywood.

Fleming and Dahl, an illustrious team

The book on which the film was based, was written by a man who knew all about classic vehicle insurance from the exploits of his most famous literary figure, James Bond, and Ian Fleming’s masterly little tale was film scripted by yet another famous literary giant, Roald Dahl.

Million pound figure hoped for

It was probably the concoction of two famous literary figures, a well known actor in Dick Van Dyke and a film that is still regularly shown on TV around the world that made the owners think they could achieve a sale figure of a million pounds. They were obviously wrong but still £500,000 for a car is not too bad and would indeed be a fantasmagorical figure for many people.

Tags: auction, Chitty Chitty Bang Bang, film cars, Motor insurance
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Car sales slide in March

Thursday, April 14th, 2011

According to figures released by the Society of Motor Manufacturers and Traders it appears that thousands fewer car drivers got a motor insurance quote on a new vehicle last month compared to March 2010.

Sales figures well down on last March

The latest statistics released by the motoring organisation reveals that over 30,000 less new cars were purchased last month compared to the same month last year. The figures will disappoint those in the industry but it will not come as a big shock. In fact some will be quite heartened by the news. The Government Scrappage Scheme, which SMMT’s Chief Executive Paul Everitt says saved the industry, no longer has any impact on this year’s figures but was still around this time last year. Taking the scrappage figures away from the March 2010 sales means this March actually saw an improvement, say some experts.

Industry expects a better second half

It is certainly true that the sales figures for March were an improvement on those of January and the 8.7% drop in sales the first quarter of the year is in line with industry expectations. The industry reckons a decline in sales of 5% over the year will take place with second half of 2011 seeing stronger sales than the first half.

Private sales crumbling

Further inspection of the statistics reveals that fleet car sales along with business car sales actually improved in March, it was the massive 17% drop in private car sales that did the damage. It is this figure that will worry those in the industry more than any other. The poor Retail Sales index performance over the first quarter of the year will have not gone unnoticed by motor manufacturers and if the general public really is tightening their belt, then motorists looking for new car insurance really will become a rarer sight.

Will the government do its bit?

Paul Everitt is adamant in his assertion that British motor manufacturing is a buoyant business, but equally adamant that the Government has a part to play in assuring its future. He believes that Government subsidies on the new generation of eco vehicles are a must, as is Government intervention in the price of fuel. He also said the industry would not welcome a hike in the Bank of England interest rate.

Tags: Car Insurance, car sales, Motor insurance
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Car Data Checks a must for used car purchase

Wednesday, September 29th, 2010

Most cars purchased in the UK are second hand and many of these are bought privately. It is always a good idea to complete as many checks as possible on the details of the car. Never arrange to meet the seller anywhere but his home address and certainly not in a car park. Motoring organisations such as the AA offer several services that any purchaser of a second hand vehicle should consider using.

It is a fact that around 30% of used cars sold have some sort of hidden history. This can range from the car being stolen (over 150,000 vehicles are taken without consent every year in the UK) to having the mileage altered.

A Car Data Check (CDC) can cost around £20 for one vehicle with many organisations offering a cheaper rate for multiple checks. Judging by the results, it could well be money well spent. Amazingly, 4% of cars checked turn out to be one of the 600,000 vehicles written off by insurance firms every year. A massive 25% reveal the car has finance on it and 20% have had a number plate change at some time in their lives. The CDC will also ensure the vehicle has the correct Vehicle Identification Number.

Once the car has passed the Car Data Check it is worth spending a little more on a vehicle inspection. A comprehensive inspection will give the potential purchaser a check on many key elements of the car. The interior, including all visual electrical and mechanical equipment, plus the body and paintwork on the exterior of the car, will all be checked detailing any previous accident or damage. A robust 10 mile road assessment is carried out, and at the end of the inspection the purchaser is given a verbal and written report.

This may sound over the top for the purchase of a second hand car, but many vehicles change hands for well over £10,000, a figure that usually represents the second biggest purchase of their lives. Spending an extra £100 or less to achieve at least an element of peace of mind represents good value on a big investment. Of course once all the checks are done and the purchase is agreed, the buyer must get a motor insurance quote on the vehicle before proceeding.

Tags: Advice, advice on buying cars, Car Insurance, Motor insurance, Used Cars
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Used car purchases in the spotlight

Thursday, September 16th, 2010

Motorists buying second hand cars should make sure their new purchase is up to the mark quite swiftly as it appears more used car purchasers are becoming disillusioned with their buy.

Statistics for the first half of 2010 show that the Office of Fair Trading (OFT) received over 38,000 complaints related to used car purchases. The figure is worryingly higher than previous years and up by 18% on the same period last year.

It is notoriously difficult for any motorist to ensure they are not buying a ‘lemon’ on a garage forecourt but they should try and make as many checks as possible. Many motoring organisations will carry out a pre-purchase road test for a reasonable sum, which could highlight any major faults. There are several other common sense measures to take as well.

Remember that many used car purchases still represent a big money outlay. Treat the transaction as you would any other major spend. Research thoroughly surrounding dealers and car price guides to make sure the asking price is fair, and bear in mind that in a private sale the car should be considerably cheaper than buying from a dealer. It is also much riskier! A dealer must sell a car of ‘satisfactory quality’ and it must be ‘fit for purpose’. No such thing applies to a private sale. Although the car should still be ‘as described’ and roadworthy, it is much more difficult to seek compensation from a private transaction.

Consumer groups also point out that in many cases the car dealer will be liable for fixing problems at his own expense if they manifest themselves inside three months of the purchase. It is always advisable to check whatever warranty is provided with the car before spending money on repairs. They also point out that if the person conducting a private sale is actually a car dealer then the purchaser is protected by his full legal rights.

It is worth considering that although 38,000 motorists were unhappy about their used car purchase, millions more have got a motor insurance quote on a vehicle and are driving around the roads of the UK quite happy with their purchase. Checking before buying is a good way of ensuring you are one of the latter.

Tags: car dealership, Car Insurance, car purchase, second hand cars
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GAP insurance sales grow

Wednesday, August 25th, 2010

With the motoring world anticipating the new 60 plate that will be on show with new registrations from September 1^st. Motoring insurance companies will not only be anticipating a rush of motor insurance quotes for new cars, but also GAP insurance companies will expect a bonanza of business as well. However, how many people know what GAP insurance is?

GAP insurance, is a product now routinely offered to purchasers of brand new cars. Everyone knows that the value of a new car starts depreciating the minute it is driven out of a showroom. GAP insurance is intended to cover purchasers of new cars for any loss of revenue they may incur during the first four years of ownership.

For instance, if a vehicle is stolen from the owner when it is two years old and never recovered. The insurer of the vehicle will make a payment based on the value of the car the day it was stolen. This payment will certainly be far less than the sum the owner paid for the car in the first place, and in many circumstances can be less than the outstanding finance left on the car. Remember most cars are bought with either bank loans or manufacturer finance. In both cases there will almost certainly be several thousand pounds on finance above the value of the loan. An accident or theft can leave an innocent motorist thousands of pounds out of pocket.

GAP insurance is designed to pay the motorist the amount of money he actually spent in the showroom. There are two possibilities for the car owner to consider. He can take a policy out for the price of the car plus the interest on the loan or choose a return to invoice policy which means the policy will pay the actual value of the car when purchased.

There is no doubt that GAP insurance is getting more popular and more competitive. Dealers will always mention GAP insurance on new car purchases, but it does appear that it is worthwhile getting an independent quote as this can save a few pounds. Whichever way the owner goes, he can expect to pay a one off sum somewhere in the region of between £300- £600.

Tags: Car Insurance, Motor insurance
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Rise in UK car sales not expected to last

Thursday, July 8th, 2010

Britain’s car market was stronger than expected in June, showing a surprise 10.8% rise in registrations, meaning not just a rise in people getting a motor insurance quote for a new car, but also that the car market in the United Kingdom was stronger than expected according to the SMMT (Society of Motor Manufacturers and Traders). However analysts forecast that demand for new vehicles will go back to a negative number during the last six months of the year, with the £2,000 scrappage incentive, which boosted demand among buyers ending. The new business secretary Vince Cable, last week told one newspaper that the emergency in the car making industry was now over and that the car industry could no longer count on any direct government aid.

Registrations of fleet vehicles were 25% higher than in the same period 12 months ago, which shows a continuing recovery in demand from companies, according to the SMMT and whose chief executive Paul Everitt said “The results indicate improved business confidence and a strengthening economic recovery. The industry still expects challenging economic conditions in the second half of the year and government action to improve access to credit for consumers and businesses will be important in sustaining the momentum of recovery. There is some inventory building going on. During the depths of the recession most companies cut back quite a lot on inventory so we’re seeing some impact there. But also, this time last year there was such a big rush in scrappage scheme vehicles and private vehicles being sold that that crowded out some of the fleet market.”

The SMMT also reported that the Vauxhall Astra was Britain’s best selling car in June, the first time for almost two and a half years that it has been placed in the number one position. The Astra replaced the Ford Fiesta, which had the highest registrations during the first few months of 2010. Registration of AFVs (alternatively fuelled vehicles) equalled their biggest ever market share, at 1.2%, in June. The number of AFVs increased by 157.4% in the month, and has increased by more than 150% in four of the last six months. Diesel sales have also increased which has helped to sustain total market growth with the Nissan Qashqai continuing to be popular and was the best-selling diesel in June.

Tags: Car Insurance, car sales
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Selling your car

Tuesday, June 8th, 2010

Most people will at some point in their lives be in the situation of selling a car. Before you sell it there are a number of things you can do to make sure you get as good a price as possible for your old motor. It is relatively easy these days to find a website or even mobile phone text messaging service to find out the approximate value of the vehicle. This is worth doing if you are selling privately, negotiating with a used car showroom or if you are buying a new car from a manufacturer, knowing how much your car is worth will be a help if its being used as a trade-in

Give your car a good clean using cleaning products that give the car a good shine, and definitely consider spending a little cash on sprays that bring life back to plastic body parts and your tyres. Remove all of your rubbish such as food papers, empty cans of soft drinks and cigarette packets and then give it a good vacuum either at home or at a petrol station. An Oil change does not cost too much and will look good when the buyer looks under the bonnet. When doing the oil change, check the brake fluid, and windscreen washer levels and fill if needed. They are only little things but could make a difference of a few hundred pounds when it comes to bartering, especially on a private sale.

When it comes to wording an advert, don’t try and save money by using abbreviations, a lot of buyers will not know what they mean, but if you have to use them, just stick to the most common one’s such as VGC, A/C, and try not to use phrases that are on every advert, like one careful lady owner. Do put whether
your car has a full service history, its colour, and number of owners, also list the car’s equipment, what features it has and most important its price. Do not forget to include a picture and your contact details.

When the advert is placed in newspapers and magazines or even shop windows, the people interested will soon by phoning you to come and look at the car. It a sad fact but thieves will pose as buyers, so never let the buyer go on a test drive on his/her own and don’t leave the buyer alone with the keys in the ignition. You can ask the prospective buyer for some form of identity and ensure they have adequate insurance cover before you allow them to test drive the car; they won’t have been included in your motor insurance quote so you don’t want to be left with a bill to pay for any damage. If you are paid in cash, it’s always best to get it put into your bank as soon as possible just in case you are paid with fake notes.

Tags: car selling advice, Motor insurance
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