Car loan availability affecting sales

Mon, 27 Apr 2009



According to recent car industry research, the restricted financing of car purchases has massively affected the sale of new and used cars . The value of the UK retail car finance market has slump by nearly 60 per cent in the last five years, with direct lending and dealer finance both collapsing.

A Trend Tracker Report entitled: The UK Retail Car Finance Market 2009 indicates just how hard hit vehicle finance really is. With weak balance sheets, many banks may even desert the car finance market entirely.

The report indicated a slump in value for the UK retail car finance market. Dealer Point of Sale finance fell by 26 per cent, whilst direct car finance slumped by a massive 60 per cent. Registrations of new cars also slumped. The report indicated a shrink in the number of physical car finance outlets.
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