“Car finance screeched into the mainstream in the wake of the last financial crisis, resurrecting a moribund motor industry – and consigning outright purchasing an anachronism in the process.
Relentless growth in the new car sector followed, with demand peaking in 2016 when annual sales zoomed to 2.69m units. This marked a 26pc increase on the 2008 trough when 2.13 million vehicles were sold.
New car finance grew by 209pc during this period. And in the 12 months to March, private new-car sales financed by Finance and Leasing Association members accounted for 95.6pc of the market.”
Coronavirus puts the GBP75bn car finance sector in a tailspin
Looks like MF can finally get that Fiesta he wanted all these years
Relentless growth in the new car sector followed, with demand peaking in 2016 when annual sales zoomed to 2.69m units. This marked a 26pc increase on the 2008 trough when 2.13 million vehicles were sold.
New car finance grew by 209pc during this period. And in the 12 months to March, private new-car sales financed by Finance and Leasing Association members accounted for 95.6pc of the market.”
Coronavirus puts the GBP75bn car finance sector in a tailspin
Looks like MF can finally get that Fiesta he wanted all these years
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