kilkelly geraldine

Point of sale (POS) consumer car finance new business volumes grew 6% in July, compared with the same month in 2017, while the value of new business increased by 11% over the same period, according to new figures from the Finance and Leasing Association.

The POS consumer new car finance market reported new business in July up 5% by volume and 10% by value, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the POS was 89.8% in the year to the end of July.

In the used car finance market, the volume of cars finance grew 6%, while the value of finance grew 13%, compared to the same month in 2017.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The point of sale consumer car finance market reported new business volumes up by 4% in the first seven months of 2018, in line with expectations of modest single-digit growth in 2018 as a whole.”

Cars bought on finance by consumers through dealerships

New businessJuly 2018

% change on

prev yr

3 mths to

July 18

% change on

prev yr

12 mths to

July 18

% change on

prev yr

New cars
Value of advances (£m) 1,376 +10 4,707 +11 19,602 +4
Number of cars 68,786 +5 230,414 +5 982,073 -5
Used cars
Value of advances (£m) 1,513 +13 4,524 +12 16,715 +13
Number of cars 125,153 +6 376,445 +6 420,591 +7
Total cars
Value of advances (£m) 2,889 +11 9,232 +11 36,317 +8
Number of cars 193,939 +6 606,859 +6 402,664 +2