Used car sales using dealer finance leaped 22% in June 2014 according to the Finance and Leasing Association.
The FLA figures reveal over 850,000 new cars were bought using dealer finance during the first half of the year, and just under 1 million used cars, a year on year rise of 19%.
Dealer finance sales to consumers buying used cars in June increased 22%.
Geraldine Kilkelly, the head of statistics and chief economist at the FLA said, “The first half of 2014 has seen strong performances in both the consumer new and used car finance sectors. The last six months have also seen the FLA’s penetration rate maintained at around three quarters of all private new car sales in the UK which shows how popular point-of-sale credit is with new car buyers.”
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