New car finance rose 15% by volume
in May compared to the same period last year, with more than half
of all buyers using dealer finance, according to figures released
by the Finance & Leasing Association (FLA). The value of car
finance was £485m for May, up 20% on last year.
Paul Harrison, head of motor
finance at the FLA, said: “Dealers offering value-for-money deals
has meant that the amount of dealer finance provided to consumers
for new cars has grown by a fifth in the last 12 months compared
with the previous 12-month period.”
Go deeper with GlobalData
Business purchases of new cars on finance grew 21% by volume in
May compared with a year earlier.
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