Skip to content

Over half of cars sold in 2010 went through car finance

According to the Finance and Leasing Association (FLA), over half of the cars sold in 2010 were purchased through car finance. The report shows that 52.1 per cent of new cars were bought using the dealer finance option,

According to the Finance and Leasing Association (FLA), over half of the cars sold in 2010 were purchased through car finance. The report shows that 52.1 per cent of new cars were bought using the dealer finance option, which is up from 45.8 per cent recorded in 2009.

Head of motor finance at the FLA, Paul Harrison, said: “Overall, the number of cars financed last year was up by 4 per cent across all markets as buyers took advantage of the competitive deals on offer."

He continued to say "However, while dealers had a good year in 2010, they are cautious about the future. We had previously forecast that the VAT rise in January might lead to a rush of sales in December, as consumers tried to beat the rise, as it did ahead of the VAT increase in January 2009."

Posted by on

Back to February 2011

Back to top