AM Online

September plate-change boosts motor finance by 10%

Point-of-sale consumer new car finance was up 10% by volume and 16% by value in September, compared with the same month last year, according to figures from the Finance & Leasing Association (FLA).

The percentage of private new car sales financed by FLA members through dealerships was 79.6% in the 12 months to September 2015 – another record high.

The point-of-sale consumer used car finance market also reported new business volumes up by 10% in September, while the value of new business increased by 13%.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “In September, the point-of-sale consumer car finance market has continued to grow in line with our expectations for 2015 as a whole.

“The range of finance products available to consumers through car dealerships has contributed to more than four years of consecutive monthly growth in new business volumes.”

Click here for finance and insurance best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.