Dealers’ share of new car finance grew to 54.2% in the 12 months to March – a gain of 1.6 percentage points over February, says the Finance & Leasing Association.
The total value of advances was £1.131 billion, a 1% increase year-on-year, although the number of cars was 5% lower at 86,940.
The FLA says advances for new cars also grew by 1% in the first quarter, to £1.695bn – but the volume (134,605) – was 5% lower.
The number of point-of-sale loans was up 4% in the year to March based on 488,076 sales, a 1% dip year-on-year.
Used car loans in March dipped by 3% to £588 million and the volume by 6% to 62,288, but there were gains in the first quarter and the rolling 12-month calculation.
Showroom advances over the 12 months were worth £5.931bn (up 7%) on 637,509 cars (5% higher).