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Facts and figures aren't working out
Page 51
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A lack of viable finance on used vehicles is hitting owner-drivers hard as they struggle to upgrade ageing vehicles.
Words: Kevin Swallow
OWNER-DRIVERS are struggling to replace ageing vehicles as finance deals require huge deposits they just haven't got.
With margins getting tighter and work disappearing, argues Mark Sands, an ownerdriver in Manchester, anyone looking to replace older trucks will struggle.
His 2002-registered Volvo FH is starting to cast him money as the truck, which has more than 800,000km on the clock, needs more maintenance to remain roadworthy.
"I've looked about and got some quotes. People want to do business, but they want anything up to f15.000 for a down payment on a 2005-registered truck.
"With work scarce and companies cutting back on subbing out, coughing up that sort of cash isn't an option." he says.
Fellow owner-driver Stan Williams, who runs containers on a 2004-registered ERF ECT 6x2 out of Birmingham. is in the same boat. "With banks drawing back from asset management," he says,"manufacturers are punting their in-house finance options, which aren't favourable.
"They need to be realistic, rather than have an unbending approach to selling metal." •