20% increase in used car values

Since the beginning of 2009 motor traders are reporting an increase of 20% in the values of used cars. This is particularly timely news in advance of the number plate change at the start of September. You could find when trading your car in for a new vehicle that you are pleasantly surprised.

Although the new car market is beginning to recover with the introduction of the scrappage scheme, there has been a marked fall in the number of used vehicles coming into the market. According to many car dealers this has only served to increase prices even further. The current situation of demand outstripping supply of used vehicles is something that hasn’t been seen in many years.

Buyers looking for high trade in values are being encouraged to do their home work. If you have a vehicle that the car dealer wants and you know that dealers are running short of supplies, this puts you in a strong bargaining position. The current incentives in the form of the scrappage scheme for vehicles over 10 years old and higher trade in values for vehicles of a lesser age, have resulted in a buyers market if you have the purchasing power.

For car dealers there is also good news, with the introduction of our latest motor trade insurance products, you can get cheaper traders insurance with iQuote. Get an online motor trade quote with us and we will beat your existing premium.

Are UK customers getting a fair deal from the Motor Trade?

A recent survery of nearly 1,500 car owners found a less than satisfactory experience in their dealings with garages, MOT centres and other outlets within the Motor Trade. Within the survey it revealed that one in five motorists have been charged more than the amount quoted for the service or repair work by their garage or car dealer.

Other findings in the survey found that one in ten motorists have or believe they have been overcharged for work on their vehicle. The ‘Motor Codes’ self regulatory body is seen as a last chance saloon for the Motor Trade. With consumer confidence at a low ebb and consumers having no knowledge of where to turn if things go wrong. The inconsistent and overpriced repair work is believed to cost UK motorists in the region of Four Billion pounds per year.

For Motor Traders, we also believe a fare deal is something that should be expected. So at iQuote Insurance we guarantee to beat any genuine Motor Trade quote. Visit us online and enter the best quote you have received from our competitors and we will save you money on your Traders Insurance.

The Motor Codes regulatory body is trying to deliver and maintain standards within the Motor Trade. Garages adhering to the scheme will have the Motor Codes logo on display and this is the guarantee of professionally completed work at reasonable prices. Support your local garages that are members of the scheme and help repair the reputation of the motor trade.

Budget confirms cash back for your old banger!

Welcome news for car dealers and motor traders in yesterday’s UK budget, the government has introduced the much touted vehicle scrapping scheme. Starting in May motorists who own a car that is more than 10 years old will receive £2,000 to trade their car in for a new vehicle.

Typically new cars are cleaner, more efficient and emit less CO2 than older cars. This move has a double benefit for the environment and to ease the economic situation in the hard pressed motor trade industry.

Motor Traders are encouraged by the new scheme, if the scheme has the same effect as the similar arrangement in Germany it will bring much needed impetus to the new car market.

For Motor Traders whether you buy, sell, service or valet vehicles we can get you a cheaper trader insurance policy. To get immediate cover and the option of ‘pay as you go’ on your motor trade policy - visit iQuote Insurance for your Motor Trade quote.

5k Cashback on electric cars

The vehicle scrapping scheme being planned for rollout on UK vehicles, is already expected to offer users up to £2,500 off the price of a new vehicle when swapping in your old banger. However it is expected that the government will announce (in the budget) up to £5,000 off an electric car when you trade in your old motor.

This bold move has a dual benefit, not only will this promote environmentally friendly motoring, but it should also give a much needed boost to the beleagured motor trade industry. Gordon Brown hopes that this incentive will help establish the UK as a leading producer and consumer of cutting edge eco-friendly vehicles.

However you will have to be keen to ensure you can get one of these deals as there will be a £250 million fund for this scheme, which will be administered on a first come, first served basis. With the announcment of this scheme imminent, car makers are racing to develop the vehicles to sell under this scheme.

For car dealers whether you sell conventional fuel, hybrid drive or electric vehicles we can save you money on your motor trade insurance. With introductory discounts and expert advisors, get a cheaper motor trade quote with iQuote Insurance.

The scheme to replace existing vehicles with eco-friendly cars is part of larger vision which includes creating green cities with readily available electric car charging points and the plan to create hundreds of thousands of jobs in the green motor trade sector.

10 tips for Cheap Motor Trade Insurance

1. Shop Around
Motor Trade Insurance is a very competitive industry, this works in your favour so make sure you shop around in the market. Apply online for motor trade quotes from different insurers, when comparing quotes look at the level of cover being offered on your Motor Trade Policy.

2. Compare the Motor Trade market online
If you haven't got time to compare all of the different sites, visit a site that will compare motor trade insurance quotes for you. iQuote Motor Trade Insurance, will check the best rates in the market to save you time and money!

3. Motor Trade specialists
For cheap Motor Trade Insurance and the best possible cover for your business, it pays to visit a specialist insurer. By choosing an insurer with specialist knowledge you get the right motor trade cover at the right price.

4. Additional Cover
For Motor Traders having the right insurance cover can save you thousands of pounds over time. A Motor Trade Policy that includes indemnity insurance or cover for your motor trade premises, could be the difference between your business surviving or failing if the worst happens.

5. No Claims Bonus
Even if your bonus has not been earned on a Motor Trade Insurance policy, you could still use it to save money on your current traders policy. Many insurers including iQuote Insurance will mirror your no claims bonus from a private car policy to a Motor Traders policy.

6. Apply online as a new customer
There is every possibility that if you apply with your current insurer as a new customer, that they will provide you with a cheaper quote. If you don't receive a discount for applying online, the only cost to you - is the time spent completing the online form.

7. Voluntary Excess
You might want to look at voluntary excess. This is the amount you pay before the insurance company picks up the rest. This can be small but if you opt for a higher voluntary excess this would seriously lower the cost of a traders insurance policy.

8. Vehicles Cover
Never assume that high performance vehicles or Motor Bikes will automatically be included on a Motor Trade Insurance policy. Always check with the insurer first, this could avoid a costly assumption if you are not covered on the vehicle.

9. Make one single payment for your Motor Trade Policy
It is very convenient to pay for a Motor Trade policy in monthly installments, however this will cost more in the long run. If you can afford to do so, always pay for your Motor Trade Insurance in one payment when you take out the policy.

10. Don't hide details from your insurer
The more information you provide your Motor Trade Insurance Broker, the better tailored the policy can be to your needs. If you hide details to get a lower rate, it will invalidate your insurance cover and may cost vast sums of money if cover is not valid at the point of claim.