Dealer car finance climbing

Mon, 30 Jun 2008



The Finance and Leasing Association have released a report indicating the point of sale car finance is becoming more and more popular in the UK, accounting for as much as 49 per cent of new private car sales.

The head of motor finance at the FLA, Paul Harrison reportedly commented: "FLA statistics show point-of-sale motor finance has remained attractive to customers during current tight credit conditions. It has grown in popularity in 2008, as consumers are finding it more difficult to get credit elsewhere. Pos products will prove invaluable for individuals and businesses in the months ahead."

A professor of automotive management at the University of Buckingham, Peter Cooke, was reported in the news as commenting: "Finance adverts at the moment primarily focus on new vehicles . But I’ve always looked at it as a supply chain. If someone wants to buy a new car, chances are they already have a used car – so they need to realise the equity of that used car to fund the new vehicle."
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