Archive for August, 2009
Choose Contract Hire And Beat The Credit Crunch
You cant hide from it; its all over the news here in the UK… The Credit Crunch! House prices are falling but no one has the money to buy all our house hold bills are rising but our wages are not matching the rise and to top it all off petrol prices have gone through the roof.
The final blow came earlier this month when EurotaxGlasses the industrys premier vehicle valuation specialists stated that they expected used vehicle values to drop by up to 12 between now and the end of the year. Meanwhile 4×4 operators could experience depreciative hits on their vehicles of nearer the 20 mark.
With less money to lend Banks and Finance companies are proving to be more difficult to borrow money from and when considering a major expenditure such as a new company vehicle why would any business use valuable capital to buy a depreciating asset.
Contract hire which provides off balance sheet funding improves a company’s gearing and can improve liquidity. In addition a VAT registered business can reclaim 50 of the VAT on the finance rental and 100 of the maintenance rental on a new car. In comparison no VAT is recoverable when a new car is purchased using cash cheque or hire purchase.
The Benefits Of Contact Hire Cheap Car Leasing:
1. Vehicles are supplied at a fixed monthly cost which will help with budgeting.
2. The agreement can include maintenance which reduces administration and helps with ‘Duty Of Care’ legislation.
3. Off Balance sheet funding improves gearing and opens up additional funding routes. This will help improve cash flow.
4. There are significant VAT and tax savings.
5. The company removes residual value risk in the future.
6. Advice on low Co2 vehicles helping with both the drivers Benefit In Kind and the company’s Class 1 contributions.
7. Access to improved manufacturer discounts on purchase and maintenance.
While the ‘Credit Crunch’ brings many obstacles and challenges to your business it also provides the opportunity for you to review your current business arrangements helping you save money and reducing risk in the future.
As you can see simply by taking out a good cheap car leasing deal you are saving yourself and your company money in the long run and actually getting one up on this credit crunch thats hit the UK.
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Choose A Right Charity To Donate Your Car
Donating a car can help people who are poor while get a substantial tax deduction. More and more nonprofit organizations in the US are relying on the revenue from car donations. Since the law about car donations is revised in the year of 2004 many donators begin to use it to reduce their taxes. Until now the system has been used by taxpayers for years focusing on how much deduction they can get on their tax return.
When you choose a charity to donate your own car you need not only to know how much tax you can save but also know how the organization processes your car. Many charities run donation programs. Some have their own car lots which sell the donated cars but many have their donations processed through auto auction companies. Many processing companies also collect and sell donated cars and distribute the money to a charity the donor indicates. The processing company typically takes a percentage of the sale value of the car but these programs allow charities without their own facilities or staff dedicated to automotive donation fund raising to benefit from vehicle donation programs. These companies handle all the details of your donation and most will even arrange for your car to be picked up or towed. Most car donation companies offer you a choice of charities to make your donation to.
Not every car can be received as donation by charity organizations; the quality of a used car is the important factor to determine it. Before you donate your old car assess the value of your car. Look up your car’s fair market value. Be realistic about your car’s condition. Photograph both the interior and exterior of the automobile. If you have made recent improvements to your car you must save the receipts for things like tires and other major repairs. Keep all documentation of your car donation. You will need to submit the documents when you file your taxes. Charities may use your car within their organization. They may also choose to improve the car or give the car to a needy person.
There is no problem with making your donation to any religious organization. Some charities are not in the automobile donation business and they only receive a flat fee like 50 for your donation. If this is an important consideration in choosing a worthwhile charity you should pay attention to it.
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Checking Your Brake Fluid
Brake fluid is specially formulated hydraulic liquid that is used to transmit brake pedal pressure in order to stop or slow down a car. It transfers force through pressure from where it has been created through the hydraulic lines and to the braking mechanism. Brake fluids have to have particular characteristics and also comply with particular standards of quality so as to perform sufficiently. Motor vehicle service and maintenance requires that brake fluid be changed or flushed every one to two years in order to ensure reliability and safety. It is therefore advisable to regularly check the brake fluid.
Brake fluids are housed in a reservoir found on top of the master cylinder in the vehicle. The fluid check up is done in several simple steps. To do so one will first of all have to locate the reservoir or the master cylinder of the brake. In a car on the side where the driver sits there is a hood under which this cylinder is located in the back side of the compartment of the engine. This cylinder is typically a rectangular six by two inch metallic piece with a reservoir made of plastic and a cap made of rubber to close it. It also has tiny tubes made from metal that are attached to it.
One will then need to remove the cap from this cylinder and inspect the level of the brake fluid especially if it is an older car model with a reservoir that is made entirely of metal. In newer cars one can see through the reservoirs therefore there is no need to remove the cap to do this. One can use a finger to get a small sample. Brake fluid is not considered a top up fluid so if it is low this signifies an underlying problem. This may be attributed to several reasons for instance if the linings pads or the lining shoes wear out and the calipers or the wheel cylinders extend themselves further in order to compensate for this. Another reason for low brake fluid may be because due to a leak which could lead to a loss of hydraulic pressure and subsequently loss in braking ability. This is risky as it can cause motor vehicle accidents. One can tell that the level of the brake fluid is low if when adjusting it the red brake light comes on.
If the brake fluid level is low then it should be immediately topped up. One is advised to use the proper brake fluid on their engines. As a general rule brake fluids with different DOT ratings should never be mixed as this may damage the braking system. Therefore before adding the brake fluid confirm from the cap or manual that the grade of the fluid being used is the one suitable for your car. There are four kinds of brake fluid; DOT 3 DOT 4 DOT 5 and DOT 6. DOT 3 and 4 are the most common while DOT 6 is available for military purposes only. It is also important to fill the reservoir and if the car has two reservoirs fill both. If the cylinder does not have any fluid at all one will need to not only top up but also have the breaks bled by a qualified mechanic very important so as to avoid serious damages to the system.
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