Dealer finance climbing

Wed, 11 Nov 2009



According to recent research by the Finance and Leasing Association, the number of new vehicles bought using dealer vehicle finance climbed by 15 per cent during September. This was the second month of growth in a row, with the car scrappage scheme having a measure of impact on the demand for car finance .

Q3 of 2009 saw some 7 per cent growth in the number of new cars purchased using dealer finance, when compared to the same period last year. However, the Q3 used car finance market remained subdued according to the FLA, with a 15 per cent decline .

Total market penetration of dealer motor finance has fallen, however, to 47.6 per cent. Many scrappage scheme customers are using personal savings ahead of vehicle finance to purchase their new vehicles .
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