Asset Finance


Consumer Finance


Motor Finance


New 65 registration plate contributes to robust growth in motor finance

5 November 2015

New figures released today by the Finance & Leasing Association (FLA) show that point-of-sale consumer new car finance was up 10% by volume and 16% by value in September, compared with the same month last year.

The percentage of private new car sales financed by FLA members through dealerships was 79.6% in the twelve months to September 2015 – another record high.

The point-of-sale consumer used car finance market also reported new business volumes up by 10% in September, while the value of new business increased by 13%.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“In September, the point-of-sale consumer car finance market has continued to grow in line with our expectations for 2015 as a whole. The range of finance products available to consumers through car dealerships has contributed to more than four years of consecutive monthly growth in new business volumes.”

Table 1: Cars bought on finance by consumers through dealerships

New business

Sep 2015

% change on prev. year

3 months to Sep 2015

% change on prev. year

12 months to Sep 2015

% change on prev. year

New cars

Value of advances (£m)

2,640

+16

4,538

+15

15,590

+14

Number of cars

156,835

+10

274,550

+10

957,063

+9

Used cars

Value of advances (£m)

1,082

+13

3,120

+13

11,682

+13

Number of cars

101,018

+10

294,249

+9

1,113,325

+8

 

Table 2: Cars bought on finance by businesses

New business

Sep 2015

% change on prev. year

3 months to Sep 2015

% change on prev. year

12 months to Sep 2015

% change on prev. year

New cars

Number of cars

48,583

+4

124,302

-4

508,911

+8

Used cars

Number of cars

4,013

+13

8,935

-12

38,395

-15

Note to editors:

  1. In 2014, FLA members provided £100 billion of new finance to UK businesses and households. £74 billion of this was in the form of consumer credit, almost a third of total new consumer credit written in the UK last year. £32.7 billion of it supported the purchase of new and used cars, including over three-quarters of private new car registrations.