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Motability takes £565 million blow as costs soar

Autocar

The company, which is owned by four major banks including Barclays and HSBC, blamed rises in the cost of servicing, insurance and new cars, including EVs. It says insurance, for instance, has risen by 46% since 2022, resulting in an additional 700 cost per vehicle over a typical three-year lease. billion in 2023 to 6.9bn last year.

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2022 BMW X3: Finance or lease?

Shawn Ryder

Advantages of Leasing a BMW X3 Lower Monthly Payments : Generally, lease payments are lower than finance payments for the same vehicle, allowing you to budget more easily. Warranty Coverage : Most leases run for the term of the manufacturers warranty, meaning fewer out-of-pocket costs for repairs and servicing.

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Can you claim car insurance on tax?

Drive.com

One of the most common yearly expenses for drivers is car insurance, and depending on your policy, it can cause a big dent in your bank account. You can’t claim running costs for a car you use under a salary sacrifice or novated lease arrangement,” the ATO spokesperson told Drive.

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9 Smart Tips for Financing Your Next Car Purchase In Australia

Car Examer

Here are some of the most common financing methods in Australia: Car loan : You can apply for this type of loan from a bank or lending business. Interest rates, payment terms, and security terms may vary. Consider banks, credit unions, and dealerships and inquire about their terms and conditions.

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Fasten your seatbelts

Canadian Auto Dealer

A major factor for the increases in 2024 was the Bank of Canada dropping interest rates by a combined 1.75percent, along with more inventory supplied to dealers by manufacturers. We are a payment-driven consumer body for the auto market in Canada. Now thats coming in line of where people would like it to be.

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