Car finance news recently included an interview with the head of motor finance at the Finance and Leasing Association. The interview was conducted by ContractHireandLeasing.com. The FLA is the leading trade association for car finance industries in the UK. FLA members lent 18 billion pounds of finance for vehicle purchase last year, funding over 50% of new car sales.

Paul Harrison was quizzed on a number of topics, including the relationship between the car finance industry and the Government. Harrison reportedly commented: Last year we asked the Government to create a level playing-field by extending the support it offered to the banks to all types of lenders, including motor . Lenders are currently able to access a range of schemes under the Bank of England’s Asset Purchase Facility to help company liquidity. Our talks continue with the Department for Business about some form of Government guarantee to help securitised lending although it is still unclear whether such a scheme satisfies EU State Aid requirements.

Harrison also spoke about the recent guide to motor finance issued to consumers. The guide, at FinancingYourCar.org.uk, was developed to help consumers understand different types of UK vehicle finance .