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In May 1995, Kwik Fit Insurance, part of Kwik Fit Financial Services, was formed, and has since grown to become one of the leading car insurance distributors in the United Kingdom. [3] In October 1999, Kwik Fit had grown to over two thousand locations throughout Europe, and Farmer sold the company to the Ford Motor Company for US$1.6bn. [4]
The public are most aware of its activities through its regulation of the MOT vehicle inspection test in Great Britain. VOSA are generally better known by commercial vehicle operators as "The Ministry", a throwback to the days of the former Ministry of Transport (MOT). In Northern Ireland this role is performed by the Driver & Vehicle Agency.
The MOT test (or simply MOT) is an annual test of vehicle safety, roadworthiness aspects and exhaust emissions required in the United Kingdom for most vehicles over three years old. In Northern Ireland the equivalent requirement applies after four years. [ 1 ]
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The National Motor Vehicle Title Information System (NMVTIS) is an electronic system that gives valuable information about a vehicle's condition and history. NMVTIS allows consumers to find vehicle information such as title data, most recent odometer reading, history of make and model, and theft records, [1] but not maintenance or repair history or information about manufacturer recalls. [2]
In 2006, Farmer donated £100,000 to the Scottish National Party to help fund their campaign for the 2007 Scottish Parliament general election.Farmer commented at the time that it was not an indication of his political allegiance but that he wanted the SNP to be able to compete financially with their better-funded political opponents. [15]
Car finance comprises the different financial products which allows someone to acquire a car with any arrangement other than a single lump payment. When used, and for the purpose of assessing the private financial costs, one must consider only the interests paid by the car owner, as some part of the amount the owner pays each month for the finance is already embedded in the depreciations costs.
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