Only 11% of car buyers surveyed by vehicle information provider HPI said they would take out finance through a dealer – significantly below the point-of-sale penetration revealed in FLA statistics.
HPI adds that 56% of those looking for finance through dealers said the rates were not competitive.
The survey showed 52% of respondents believed fewer finance options were available to them.
“This is particularly worrying given 74% of those surveyed said they were not worried about using credit for their next car purchase,” adds HPI.