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Finance is recovering for new car sales
publication date: Nov 11, 2009
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author/source: Robin Roberts
Delegates at the FLA Motor Finance Convention were told the number of new cars purchased by consumers using dealer finance grew by 15pc in September 2009, despite the scrappage scheme having limited impact on demand for finance. This is the second consecutive month of growth and is a sign that motor finance remains attractive to car buyers. The FLA's figures are supported by the results of a new survey by What Car? which shows that almost 60pc of respondents would consider dealer finance if buying a car in the next 12 months - making it the most popular funding option. Stephen Sklaroff, Director General of the Finance & Leasing Association, told motor industry experts that the number of new cars bought by consumers through dealerships grew 7pc in the third quarter of 2009 compared with the same period last year. But the used car finance market remains subdued. The number of used cars bought by consumers with dealer finance fell by 15pc over the same period and the value fell by 13pc. |
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