New car dealer finance continues to rocket

Time 10:22 am, January 16, 2014

080310cbuysTHE number of new cars bought using dealer finance has increased by seven per cent, according to the latest figures from the FLA.

The figures revealed that the number of customers who opted to purchase their new vehicles using dealer finance packages grew by seven per cent in November 2013, compared with the same month in 2012.

Meanwhile, the consumer used car finance market also recorded another strong month in November 2013, with volumes 18 per cent higher than in November 2012.

Geraldine Kilkelly, head of research and chief economist at the FLA said: ‘The consumer new car finance market has reported moderate growth in the last couple of months, with the annual percentage of private new car sales financed by FLA members falling slightly from a peak of 74.5 per cent in August to 74 per cent in November.’

She added: ‘Motor finance providers remain optimistic about growth in 2014, and the FLA’s most recent confidence survey shows that the majority of respondents expect new business growth of up to 10 per cent over the next twelve months.’

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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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