Alphera Financial Services, the independent motor finance provider, has repeated its call made last month to maintain affordable, transparent credit to facilitate growth in new and used car sales.

Affordability is a key factor for consumers looking to purchase new or used vehicles, according to recent surveys by online car finance provider and broker Car Finance 247 and motor finance IT provider iVendi, which is determined by consumer access to affordable credit.

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Consumer finance on new cars purchased during the first half of 2013 increased 31% year-on-year by value according to the Finance & Leasing Association, which suggests an increase in consumer confidence, having witnessed a 6% increase in new business consumer finance compared with June 2012.

‘A lot of positivity’

Andy Gruber, director of Alphera, told Motor Finance: "There’s a lot of positivity in the marketplace at the moment."

While acknowledging the high rates of finance and sales, Gruber warned "a lot of those sales are artificially induced" through the support and campaigns of manufactuers.

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Samantha Cripps, sales development manager at the BMW-owned lender, said: "It is no surprise that the demand for consumer new car finance is remaining strong. Indeed, these figures are clearly reflective of the robust deals being offered by the vehicle manufacturers, which include plentiful add-ons such as discounted upgrades or free fuel and insurance."

"The FLA data suggests that we are a nation of savvy and informed shoppers, looking around for the best possible deal to get us the products which we need. This presents a huge opportunity for motor retailers, especially those which are able to combine competitive rates and well-trained employees with proactive promotional activity. This allows them to take advantage of the growing consumer confidence trend, as well as the fact that interest rates continue to remain at an all-time low," added Cripps.

A full interview with Andy Gruber will be published in the August issue of Motor Finance magazine.