Information for Car Dealers: UK vehicles with the lowest depreciation

A survey by Glass's conducted on vehicles registered three years ago, has produced a list of the top ten cars for maintaing residual values. If you work in the Motor Trade and buy and sell vehicles, this is essential information for your business.

The vehicle values below are calculated on three year old vehicles with recorded mileage of 37,000. The vehicles each show a percentage figure, which is the amount of the original list price retained after the first three years.
 

1. Volkswagen Tiguan SE 4Motion 5d (68%)
2. MINI 1.6 Cooper 3d (65.9%)
3. Honda CR-V 2.2 CTDi SE 5d (64.3%)
4. Land Rover Freelander 2 GS Td4 Auto (63.8%)
5. Audi Q7 3.0TDI Quattro S Line Tip (63.8%)
6. Land Rover Discovery 3 2.7TD (63.7%)
7. Audi TT Coupe 2.0T FSI (63.6%)
8. Nissan Qashqai 1.6 2WD Visia (63.3%)
9. Land Rover Range Rover 2.7TD Sport (62.5%)
10. Audi A5 2.7TDI Sport Coupe Multitronic (62.2%)

The VW Tiguan tops the charts for residual values, this is partially due to limited numbers available as this has never been strongly marketed to UK customers. This limits the number of cars available, but there is also the brand value of the VW badge, which is synonymous with quality.

Another detail to note for Car Dealers looking to make astute purchasing decisions is that despite cost and environmental factors, 7 of the top 10 vehicles are SUV's. Many industry watchers expected values of these larger thirstier vehicles to fall, but the smart money is sticking with 4x4's.

Looking to get the best value from your Motor Traders insurance? We specialise in Car Dealer insurance, so if your need a Traders Policy that cuts costs, but not cover - visit iQuote Motor Trade insurance: www.iquotemotortradeinsurance.co.uk

Car Dealers still purchasing at auction during the freeze

Despite the arctic conditions many of the major vehicle auctions are reporting steady levels of vehicle sales during recent snow and wintry conditions. Many Motor Traders now purchase from auctions using online services and this method of buying saw spikes in usage during the heaviest snow and ice. Some vehicle auctions experienced increases in online bidding and purchase activity of over fifty percent.

Within the Motor Trade many are grateful to have online tools such as Simulcast to keep buyers and sellers trading, during very difficult travel conditions and the early freeze across much of the country.

Looking for a better deal on Car Dealer insurance, this winter? Get a Motor Trade insurance quote online with iQuote to find out how much you can save.

Mobile vehicle valuations for the Motor Trade

There is a new online service for mobile available from Glass's which provides valuation tools for Car Dealers whilst on the move. The mobile revolution for web usage has continued to grow during 2010 with online traffic from mobiles increasing 3-fold. The new service 'GlassNet Unlimited Mobile' reflects this trend and the increasing diversity of the Motor Trade.

The new mobile service will provide greater flexibility for Car Dealers who visit a customers to value vehicles, work on multiple sites and motor traders working from home. The mobile service will allow dealers to input specific vehicle information such as mileage and options to get an accurate valuation of any vehicle.

At iQuote Insurance we are also publishing new services for mobile devices, such as your iPhone, Blackberry or iPad. You can now get a quote for your Traders insurance online at our new mobile site: iQuoteMotorTradeinsurance.co.uk/mobile/ - Visit us for a Motor Trade Insurance Quote tailored to your business.

Positive annual sales for the UK Motor Trade

The annual figures for new car sales are up by nearly 5% on the vehicle sales for the first ten months of 2009. This is good news for Car Dealers, however figures for October were much lower than last year, as the scrappage scheme was still active in the latter months of last year. This makes the overall annual increase all the more impressive and provides much for motor traders to be positive about for 2011.

The total number of new car registrations in 2010 is expected to top 2 million in the UK. Industry analysts expect continued improvements in the Motor Trade market, driven by improving consumer confidence and modest economic growth to fuel higher sales for the coming year.

Currently the top five selling cars in the UK (for 2010) are:

1. Ford Fiesta
2. Volkswagen Golf
3. Vauxhall Astra
4. BMW 3 Series
5. Ford Focus

Looking for a better deal on your Car Dealer Insurance? Get a competitive Motor Trade Insurance Quote with ‘iQuote’.

Top tips for Traders with iQuote Insurance

When you purchase a Traders Insurance policy, we are committed to providing you with the most competitive deal on your Traders policy. Because you are covering your livelihood and vehicle stock, you shouldn't purchase insurance cover purely on price. You should also consider the level of cover required and whether you require additional benefits such as premises or indemnity cover.

We have listed some handy tips designed to save you money on Motor Trade insurance:

• Make sure that any additional drivers you add to your Traders policy are over 25 years of age. Any drivers younger on the policy will result in a significant increase of your insurance premium.
• If you haven't got any No Claims Bonus in the Motor Trade, ask your insurance broker if you can 'mirror' your No Claims from a private car policy. This means you could still get generous discounts even though your No Claims has not been earned in the Trade.
• If you have the available funds, pay for your insurance in one payment at the inception of the policy. Although most brokers can finance your policy, you will pay more for your insurance in interest charges.
• Many policies will not cover high performance vehicles, within your Motor Trader insurance. If you need cover for a Subaru Impreza, Mitsubishi EVO or other high performance vehicles, you must notify your insurance broker or insurer. Otherwise you may unwittingly end up without cover in the event of a claim.
• Consider the amount of additional cover you require, by limiting the amount of premises cover or increasing the voluntary excess you are willing to pay, you can make large savings on the cost of your Motor Trade policy.

To find out more about our Motor Traders Insurance and how much you can save - Get a Motor Trade Quote with iQuote Insurance.

Car Dealers report increasing demand to beat the VAT increase

Many car dealers are reporting an increase in forecourt demand during the past month, due to the impending VAT increase. In January 2011 the rate of VAT increases from 17.5% to 20% which will have a hefty impact on new car buyers. For example the increase in purchase price on a mid-range Ford Focus will be in excess of £500.

The more expensive the vehicle, the larger the increase in cost becomes if you wait until the new year to purchase your new car. This is driving demand for new cars, which is expected to continue to accelerate during the final two months of 2010. The VAT increase doesn't just effect consumers, but will also have far reaching effects on the Motor Trade, which has thus far been relatively resilient in the tough trading conditions since the start of the economic downturn. Whilst this rise in VAT brings in large sums for the Exchequer many Motor Traders have questioned the timing of the increase, just as many of the current spending cuts are beginning to bite.

If you are looking for cheaper Car Dealer Insurance, to help battle rising costs within your business, get a quote with iQuote insurance. We have access to the most competitive Motor Trade insurance schemes in the UK - saving you time and money.

Traders Insurance in times of austerity

In the past week the coalition government has announced a wide range of spending cuts, that will impact across all areas of society. Whether or not the spending cuts directly effect you and your Motor Trade business, there is likely to be a knock on effect to consumer confidence. With potentially hundreds of thousands less in work and with less disposable income to purchase used or new cars. This doesn't just effect vehicle sales, but also car valeters, mechanics and has wide ranging implications for all traders.

Therefore it has become even more important to purchase Motor Traders Insurance keenly. There are a number of factors to consider when purchasing a Motor Trade Policy, price is obviously a key consideration. However price should not be the only factor, you should consider if you do have to make a claim - will your policy provide adequate cover to fully cover the cost of your claim.

When purchasing your Traders Policy, you should review whether you will require Demo Cover, Indemnity and Premises cover on your policy and the level of cover required for each item. When you get a Motor Trade Insurance Quote with iQuote Insurance, you will speak to an expert advisor who will get you the best possible quotation for Traders Insurance - that cuts your costs, but not your cover!

To find out more about a Motor Trade Policy with iQuote Insurance call today: 0845 434 7819

IMI will introduce Electric Vehicle qualification and training for the Motor Trade

Electric Vehicle (EV) and hybrid vehicles are still far from ubiquitous, however they are becoming increasingly popular within the UK. This means that as cars of this type begin to enter the used car market, it is important for consumers to be able to have these vehicles serviced by a local garage or even mobile mechanics.

Earlier this year the IMI (Institute of the Motor Industry) announced an industry wide training, accreditation and qualification scheme to cover EV's. This scheme is now ready for introduction in January 2011, it is hoped this scheme will provide a much higher level of competency across the Motor Trade when dealing with this exciting technology.

There will also be increased choice for the consumer and by not being tied to a specific manufacturers dealer network for servicing and repairs, there is likely to be a benefit in terms of both convenience and cost.

Need cheaper Motor Traders Insurance? Get a quote for your Traders Policy and save up to 40% off!

Internet Marketing is becoming critical to Motor Traders

Much of the Motor Trade has been slow to harness the power of the internet, as a tool to drive new business, however this is rapidly changing. As consumer patterns are changing, prospective customers are increasingly likely to book vehicle servicing, repairs and purchase vehicles online. For those Motor Traders that have not already harnessed the power of promoting their business online, it is becoming increasingly important to drive visitors to their website - or be left behind by competitors.

In many other industries, but particularly insurance this transition is a familiar story. The insurance industry has been revolutionised by changing consumer patterns. If we look at the example of Motor Trade insurance, companies that haven't been able to gain a strong online presence have ceased to exist.

Although the Motor Trade has been slower to adapt to an online market place, a solid strategy for online marketing for Car Dealers, Mechanics and Valeters is becoming ever more important. The first place that a customer will research for your services are online. The actual purchase may happen on the phone, or face-to-face but the majority of customers will complete their research on the net. So whatever type of Motor Trade activity you are involved in, you should review your website and how prominently it appears within Google for your products and services.

Looking for cheaper Traders Insurance? Call us today on: 0845 434 7819 to find out how much you could save.

Car Dealers offering independent scrappage schemes

The government scrappage scheme was widely acknowledged as a huge success within the Motor Trade industry, by the time the scheme had run it's course in March 2010 it had accounted for 400,000 vehicle sales. When vehicle sales had been predicted to plummet, the scheme provided a much need boost for Motor Traders.

Since the schemes expiration earlier this year, many manufacturers have since provided their own offers to recycle your old car for a newer model. Although not government backed, there are still many bargains to be had when shopping around within the range on offer from car dealers. Nissan, Kia and many others are offering schemes to recycle your old vehicle when you purchase a new car. This is helping to drive new car sales and put cleaner, greener vehicles on Britains roads.

Looking for a better deal on your Traders Insurance? Find out how much you can save when you get your Motor Trade Insurance Quote with us.

Warnings for Car Dealers on HMRC tax bills

Motor Dealers have been claiming overpayment of VAT on sales of demonstrator vehicles. The resulting claims have been paid with minimal queries by HMRC to dealers who submitted claims.

However HMRC has begun reviewing this process and believes they may have made overpayments to Car Dealers, in some cases with substantial amounts. This is related to a partial exemption status for VAT for the claims submitted. Within this retrospective review, which dates back two years many of those who have already received refund payments from HMRC have utilised the funds within their business - and will now be asked for repayment.

Many of those effected by the current process will be larger Motor Dealers with substantial claims. Understandably many of those effected are unhappy with the retrospective nature of the current review.

Need to save money on Traders Insurance? We specialise in Motor Trade policies for Car Dealers, call us on 0845 434 7819 or apply online for a Traders Policy.

Customer complaints on the increase reports OFT

The Office of Fair Trading has reported an increase in the number of used car complaints from consumers, the number of reported complaints has risen to 38,000 during the first half of 2010. From the perspective of car dealers this is causing costs to rise and increases the importance of choosing the right Motor Trade Insurance policy.

Whilst reputable used car dealers, take every reasonable precaution with vehicles they sell - there is still the potential that a substantial claim could arise from a defective vehicle that has been sold or serviced by you. Therefore indemnity insurance cover on your Motor Trade policy can help protect against this potential risk to your trading activity.

In response to the recent increase in customer complaints, the OFT has launched a campaign to help customers better understand their rights when purchasing a vehicle. Most of the complaints recorded within the figures, have become apparent in the first three months. In such circumstances the dealer will often be responsible for fixing the issue, with no charge to the customer.

Looking to save money on your Traders Insurance? Call us today on: 0845 434 7819 to find out how much you could save.

Auto Trader launches iPhone App

The leading site for Car Dealers and Motor Traders to sell vehicles in the UK - Auto Trader, has launched an iPhone App. The expansion of Auto Traders digital offering to the ubiquitous Apple device will expand the reach of Auto Trader across the UK and have a positive impact on Motor Traders who upload their stock.

Since it's release in 2007 the iPhone has become the 'must have' smartphone across all age groups. For Car Dealers the opportunities to harness the mobile platform to display and sell their vehicles directly to customers should not be missed. From a Motor Traders perspective the critical factors in attracting potential customers in this new arena, are common sense: Ensure the vehicle details are comprehensive and accurate and that there are several photos of the vehicle, taken in good light which display the vehicle inside and out. Within the iPhone App potential purchasers are offered a link to call the seller with one touch, or view the dealers website - which presents an excellent opportunity for Motor Traders to make the sale.

Looking for Motor Traders Insurance? We can help you find the right Motor Trade Policy at the right price.

Motor Traders profits on the rise in 2010

Car Dealers have reported an average profit rise of eighteen and a half percent during the first half of 2010, when compared to the same period in the previous year. The latest figures support the feedback from many motor traders that a fledgling recovery is underway in the vehicle sales sector of the economy.

This result is doubly impressive when the wider economy is experiencing much slower growth than the figures achieved by car dealers. However the confidence that the year-on-year improvement will continue to gather momentum is lacking. In the second half of 2009 vehicle sales were driven forward by the popular scrappage scheme introduced by the government. The predictions for the later half of the year are considerably more modest.

In these uncertain times, would you like to save money on Car Dealers Insurance? Get a Motor Trade Quote with us and we will beat your existing Motor Trade Insurance Quote.

Reduction in used car values

According to Motor Trade industry figures - the value of used cars in comparison to the same month last year has fallen by 3%. This is the first time a fall in values has occurred this year.

Their are variations in these values, with small cars seeing the most dramatic drop in values. However despite heavier taxation and increased fuel costs, four wheel drive vehicles have seen an increase of over 10%.

The overall drop in values is an opportunity for a bargain when purchasing vehicles for both consumers and traders. Similarly with iQuote Insurance you could benefit from a bargain on your Traders Insurance when you get a quote online.

Car Dealers need to embrace electric cars

According to a recent industry survey many motor traders and car dealers have been hesitant to become involved in the electric car revolution. Whether electric cars really are the answer to 'green' car use, is still a subject of debate. However there is an increasing popularity with consumers, for both environmental and economic reasons.

Also the Motor Trade should keep site of the fact that electric cars will need much less dealer servicing than current vehicles with combustion engines. This will have a direct result on Motor Dealer revenues from servicing. The onus will move to the dealer to ensure that they provide a service that is compelling for drivers to require the dealer. This may involve maintenance for wear and tear on parts and safety checks on vehicles. It may transpire that to try and retain servicing incomes the car dealers may end up visiting the customer and providing a more 'bespoke' service.

At iQuote Insurance we provide a bespoke service to customers who require Motor Trade Insurance. In a challenging market for Motor Traders, we go the extra mile to save you money. So if you need Traders Insurance we will arrange a policy that cuts costs, but not cover.

Visit iQuote Insurance and get a cheaper Motor Trade Quote »