Financing levels grow

Time 11:41 am, July 23, 2008

asda.jpgNEW metal abounds at the British International Motor Show.

But buyers needn’t worry about sourcing funding to buy them, says the Finance & Leasing Association.

Statistics show dealers are selling more new cars on finance than a year ago. POS car finance for the year to date is up by 6 per cent, from £11.3bn to £11.9bn.

That’s funding for just under 50 per cent of all new retail car sales, compared to 47 per cent in 2006-07.

‘Tens of thousands of motorists will be in London’s docklands this week visiting the British International Motor Show. In current market conditions, they may worry about getting a good deal on their next car,’ admitted FLA director general Stephen Sklaroff.

‘Dealerships can help by offering competitive finance packages to fit all pockets. They can often serve customers finding it difficult to raise money elsewhere.’

‘The FLA’s statistics show that consumers are increasingly taking advantage of the benefits provided by dealer finance.’

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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