According to the freshest figures from the Finance and Leasing Association, the number of cars purchased on finance by customers last month was exactly the same as figures from the year before. Coming in at just under 150,000 cars, the figures reflected changing car finance market dynamics.

According to the FLA, used cars suffered a 10 per cent slump in consumers using finance to purchase. The overall vehicle finance figure climbed in the first quarter, but dipped in the used car sector.

The head of research at the FLA, Geraldine Kilkelly, reportedly commented: The rate of growth in dealer finance for new consumer cars was modest at just 1 per cent and as a result the finance penetration rate for this sector fell further to stand at 45.8 per cent. April’s results will give a better idea of the impact of the new plate overall but clearly there is still work to be done on changing consumer perceptions in an increasingly competitive marketplace.