Latest figures from the FLA reveal that while sales of new cars fell in November 2010, the proportion of new cars bought using dealer finance over the last 12 months rose to 51.5 per cent.
Paul Harrison, head of motor finance, said: ‘What our latest figures show is that the car market, following the previous Government’s scrappage scheme, is returning to business as usual.
‘Savvy consumers are seeking used cars from dealerships to get value for money. And while the new car market has seen a fall in the last quarter, finance sold in showrooms now accounts for more than half of private new car sales.
‘We expect this proportion to continue to rise as the last few months of scrappage-influenced sales drop out of our 12 month average.’