Over the past weeks, most dealerships and car factories have been closed and finance companies unable to collect end of contract cars and vans.
However, under the latest guidelines from the 1st of June dealerships are reopening and have developed contactless handovers. This has meant we are now delivering vehicles that had been trapped at dealerships. Factories are now able to secure supplies of parts and have recommenced production, albeit mostly on a low volume basis due to distancing measures between employees.
So the good news is we can take orders and in many cases deliver vehicles!
Following the lockdown the expected rush of orders for electric vehicles (EVs) and Plug-in Electric Hybrids (PHEVs) to take advantage of the tax breaks these vehicles offer has not materialised. As a result, manufacturers are still quoting for Q3/Q4 delivery. Lockdown does mean, however, that we are able to offer some fantastic deals on stock cars for delivery now or when you return to work, and, if you are considering a PHEV or EV we would suggest you get in the queue asap as due to the tax breaks available we anticipate long waiting lists.
Covid 19 update
Many finance companies are looking sympathetically at the provision of payment holidays. Those who take delivery of a new car during shutdown should make sure they can afford the vehicle as it is unlikely these will qualify for a holiday.
As the auctions are not working at present it has become increasingly difficult to obtain firm prices for vehicles, or those that are bidding may be on the conservative side. Advertisement sites such as Autotrader are still publishing but you may have to run the risk of coming into contact with people outside your usual circle of acquaintance.
End of contract
If your current contract is due to expire and you no longer need the vehicle, you should contact us and we will arrange for the car to be de-hired. Collections of de-hired vehicles are beginning to resume. However, you may need to store the vehicle until it can be collected. A date and time-stamped photograph of the odometer may be required to prove the car has not been used between the de-hire date and collection.
The Government has granted a six-month extension on MOTs from 01 April 2020. Nevertheless, you should check your vehicle regularly to make sure it is safe. Some outlets, such as Halfords, are still open for MOTs and can be booked online.
Many dealerships are still closed and a number are only offering service work for front line workers. The likes of Halford Autocentres are open and can carry out routine servicing. Having your vehicle serviced at a non-franchised garage will not affect your manufacturer’s warranty provided the garage follows the relevant schedule and uses the manufacturer’s genuine parts.
Used vehicle values
With car auction sites closed and a large number of vehicles due to be sold, we are forecasting used car values dropping in the first instance, as increasing unemployment forces more vehicles onto the market that cannot be absorbed immediately. For those of you that finance your vehicles by contract hire, this is of no concern although we do expect the leasing companies to become more vigorous about end of contract damage claims.
Please call us for advice and help
If we can help or assist in any way please do call us on 01283 351200. Our experienced staff will be on hand for you.