Analysis
– The new car finance market grew by 48% by value and 42% by volume in July compared to July 2011 – the strongest monthly
growth so far this year.
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– 68.6% of new cars acquired by consumers in the past 12 months were bought using finance sold in dealerships, the highest level
since FLA records began.
– In July, personal contract purchase was the most popular car finance product, accounting for 60% of finance granted. HP accounted for a further 28%, leasing for 7%, and the remaining 5% involved personal loans provided by dealers for new cars.
Paul Harrison, head of motor finance, Finance & Leasing Association
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