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Dealer finance reaches 54.2%

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).

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