UK: SECOND-HAND CAR VALUES PLUMMET

Article Abstract:

Faced with consumer and government pressure to reduce the prices of new cars, car dealers in the UK have been dropping the price offered for second-hand cars, amounting to a fall of GB[pound] 15bn over the last two years. As a result, thousands of consumers with loans are now in the situation where their car's value is less than the outstanding debt, while around 11mn of the 26mn cars in circulation in the UK have no saleable value, according to CAP Monitor, the industry price guide. Meanwhile, consumers have been hit with the rising price of car ownership, including petrol. Leasing is becoming a popular option, as a four-year deal could save up to GB[pound] 1,000 per year on the running costs for buying a new car, according to PriceWaterhouseCoopers.

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UK: FOREIGN OFFICE TO REPLACE ROLLS ROYCE FLEET

Article Abstract:

It has been revealed that the Foreign Office is considering the replacement of its Rolls Royce fleet. A deal was stuck between the Foreign Office and Rolls Royce in 1996 to provide luxury cars to British ambassadors and High Commissioners around the world. However, it is now believed that the Foreign Office is considering alternative vehicles from Bentley, Rover and Jaguar.

Capital expenditures, New orders received, Transit and Ground Passenger Transportation, Local and Suburban Transportation, Passenger Transportation, Transportation industry, Public transportation, Rolls-Royce PLC

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Company car drivers should follow the green code

Article Abstract:

The UK government's new regulations on the taxation of company cars are discussed. These regulations aim to discourage unnecessary use of company cars.

Tax Law, Public Finance Activities, Taxes, Taxation, Tax policy, Automobiles, Company, Company cars

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