Analysis

The figures show the number of new cars bought on finance by consumers through dealerships in the 12 months to March 2013 increased by 27%, and by 22% in the three months to March 2013. PCP agreements now account for 63% of total new showroom finance agreements by value.

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Paul Harrison, head of motor finance at the FLA, said: "Used car finance volumes in March were relatively static with the new number plate helping to drive strong growth in private new car finance sales."

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