The new car finance sector saw new business by value drop by 6% year on year to £1.545m, with the number of cars financed down 12% at 55,097 in June, according to the Finance and Leasing Association. The used car finance sector didn’t fare any better, with new business value down by 13% on June 2023 at £1.67m and the number of cars financed down 10% at … [Read more...]
Bigger spenders returned to forecourts last year
Figures from the Finance & Leasing Association show that the consumer car finance market reported new business volumes up in December 2021 by 2% compared with the same month in 2020. In 2021 as a whole, new business volumes grew by 9% compared with 2020 to almost 2.1 million cars financed, but remained 14% lower than in 2019. The consumer new car … [Read more...]
Lenders optimistic for 2021 despite sales slowdown
The Q1 2021 Industry Outlook Survey by the Finance & Leasing Association shows that the asset finance, consumer finance and motor finance industry see opportunities for growth over the next year despite the heightened uncertainty caused by the latest restrictions to deal with the Covid-19 pandemic and the UK's lowest January registrations for 50 … [Read more...]
Newslines 18 September
The M4 is one of the best motorways to use if you have a pure electric car, according to analysis of charging points by CarGurus. It has 21 charging units spread over its 189-miles, and motorists only have to cover 17.2 miles between power-points, while worst is the M8 Scotland without any ev hook-ups over 60 miles. Europe's car registrations dropped in … [Read more...]
Lenders worried over extension of deferred loans
Helping customers through this difficult period remains a priority for lenders, but with more parts of the economy reopening, lenders also have a responsibility to transition customers back to regular payments where possible, said Stephen Haddrill, Director General of the Finance & Leasing Association. Commenting on the publication of new proposals from … [Read more...]
Financing your car in 2020
If you’re thinking about changing your car in 2020 but unsure where to begin when it comes to researching finance, the FLA’s impartial website, Financing Your Car, is a good place to start. FYC is designed to find the product that best fits your circumstances, so the first port of call on the site should be ‘Your Finance Options’, which will explore … [Read more...]
Tradelines 14 March
Ford sales grew 8% in Europe's 20 markets in February, marking its best February in 10 years and after a 21% jump to 12,000 in the UK. The growth was powered by strong demand for SUVs up nearly 37% in February, driven by record EcoSport sales up 68 %, record Kuga sales up 28% and “Ford of Europe built momentum in February, continuing our best start to the … [Read more...]
Brits borrowed more for new cars in 2016
The Finance & Leasing Association says new business in the point of sale consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015. The POS consumer new car finance market reported new business up 1% by value and 8% lower by volume … [Read more...]
Tradelines 24 August
Welsh Government is halving support it offers to firms for youth job creation. Jobs Growth Wales did offer 100% subsidy for firms to employ people aged between 16-24, but its now halved that and says it is part of a readjustment of activities to merge Jobs Growth Wales, ReAct and Traineeships. The RAC will take legal action to stop unaccredited garages … [Read more...]
