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Used van finance deals on the increase

Used van and truck finance deals are increasing in number for the first time since the start of the recession, reports Broadway Motor Company.

 

The GE-owned used light commercial vehicle specialist says that the number of used vans and trucks that is selling with finance is now double the level of 12 months ago.

National sales leader, Ian Griffiths, said: “There are two developments occurring here. One is that more used buyers are opting for finance, indicating an increase in confidence on their part; the other is that more of them are being accepted for finance, also showing an increased level of belief in the market on the part of banks and other financiers.

“An easing of finance will probably be a key factor in the used van and truck markets continuing the recovery of recent months, so this is a very welcome development.”

Griffiths added that most of the finance deals being signed were with trades people returning to the commercial vehicle market.

He said: “These trades people and SME businesses, who very much form the backbone of the UK economy, have kept hold of an ageing vehicle through the economic downturn and now believe that their prospects have stabilised to the point where they are ready to sign a finance agreement on a quality used vehicle that is backed by assurances such as a detailed service history and comprehensive warranty.”

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