Finance & Leasing Association5 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:
- 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.
