Analysis

The number of consumer used cars bought on finance in July grew 18% compared to July 2012. The rate of growth in the number of new cars bought on finance by consumers slowed slightly compared to recent months, but the number was still up 21% in July compared to the same month last year.

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FLA head of motor finance Paul Harrison said: "The continued growth in the used car market has been helped by the wider range of finance incentives that are offered and the improved availability of stock filtering down from a buoyant new car market."

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