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Dealer finance reaches 54.9%

Showroom finance for new cars has grown again, to 54.9% of the market in the 12 months to April, says the Finance & Leasing Association.

Advances for the year totalled £6.35 billion (2% up on the previous 12 months), but the volume of 484,761 was 3% lower.

Point-of-sale loans in April for 36,723 cars (8% down on a year earlier) totalled £480 million (6% down).

In the three months to April dealer loans on new cars were worth £1.864bn (2% down) on 145,583 cars (a fall of 7% year-on-year).

Used cars made progress in the 12 months to April: total advances up by 4% to £5.873bn and the number of cars by 3% to 628,903.

But there were falls in April (loans 11% down at £474m, volume 15% lower at 49,984), and in the previous three months (£1.565bn in loans was 4% down, units tot-alling 166,621 were 7% lower).

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