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 »

Car Dealers predict price increases in 2010

The Motor Trade is encouraging punters to buy cars before the year is out, to make huge savings on the price of a new car. There is an expected rise for new car prices of six percent, during the first three months of 2010. When this is then combined with the return to 17.5% VAT and a showroom tax, due to take effect in April - The cumulative effect is a substantial price rise on the forecourt next year.

Several manufacturers are launching deals which finish on December 31st 2009, which are being billed as ‘beat the VATman’. Other factors which may make buyers wary of purchasing cars in 2010, include the end of the scrappage scheme in February and the poor exchange rate of the pound against the euro.

All of these factors are an indicator of tough trading conditions to come for manufacturers and motor traders. However there is some good news with the cost of a traders insurance policy falling by up to 40% with iQuote Insurance. Get a Motor Trade insurance quote and find out how much you can save today.

Motor Traders need to prepare for the end of scrappage scheme

The governments scrappage scheme has been a victim of it’s own success and is expected to finish before the end of 2009, possibly as early as October. Although the scheme has seen vehicles sales increase and generated 150,000 new registrations; car dealers need to consider the strategy for new car sales within their business.

Car dealers who are pro-actively looking at ways to increase sales, should consider marketing to customers who recently purchased vehicles for after-sales servicing and marketing of customers in their existing database who purchased a vehicle over 2 years ago, for new vehicle sales. There will still be opportunities for strong income to dealers after the scrappage scheme is finished, but the motor trade industry as a whole will need to work harder to secure their share of the revenue.

iQuote Motor Trade would like to assist car dealers in the current climate. We guarantee to save you money on Motor Trade Insurance, if you have received a Motor Trade Quote from one of our competitors, we will beat your quote and deliver you a cheaper traders policy.