Car finance climbing in popularity

According to recent figures from the Finance and Leasing Association, car finance has soared in popularity since last year. The statistics show a 3% increase in the amount of people purchasing a vehicle using motor finance .

Over the last 12 months, over 50% of all car buyers have chosen dealer car finance for their purchase. The increase could be down to restricted mainstream lending and personal loans .

The head of research and chief economist at the FLA, Geraldine Kilkelly, reportedly commented: But if dealers are to continue to offer competitive finance to customers on the forecourt, motor finance companies need to be able to access affordable wholesale funding .

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Car finance climbing in popularity

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