Next month’s arrival of the 13-plate will offer the chance of a surge in showroom loans, and one lender plans targeted campaigns and incentives at a local level.
Harvey Stead, Close Motor Finance sales director, said: “We know one size doesn’t fit all and always look at our activity on a dealer-by-dealer, case-by-case basis to try ensure we can maximise opportunities.
“The whole principle of local underwriting really kicks in during March when no two deals are the same.
Dealers have to hit stretched numbers and targets to ensure a profitable month, and every bit of help at local level counts.”
Stead said captive and independent finance companies’ national rate campaigns would probably be implemented to help encourage consumer activity.
“We expect the frenetic activity from manufacturers to continue, with some eye-watering deals on offer to build market share,” he said.
“From a consumer’s point of view, it’s a great time to buy a new car.
But the question is whether man-ufacturers and dealers can get that message across against a backdrop of an uncertain economic climate.”
The Finance & Leasing Association plans to use the March new car market, the year’s biggest, to launch its new consumer website (www.FinancingYourCar.org.uk).
Around 25% of UK car showrooms are now SAF (specialist automotive finance) approved.
Paul Harrison, FLA head of motor finance, said: “As ever, March will be an important month, and I don’t think buyers will be put off by the 13-plate.
There has never been a better time to buy a car on finance.”