Just short of £1.9 Million new and used cars we’re sold on finance in the 12 months to April 2014. Seperating the numbers by new and used it amounts to an 18% rise to 847,047 for new car finance sales and a 20% rise to 975,164 for used car finance sales.
On top of this a survey carried out by the FLA shows that over 60% of respondents from within the industry expect a further 10% growth in both the new and used car finance markets over the coming year.
The figures are a clear sign of increased consumer/lender confidence and can in part be attributed to the introduction of risk navigation software and payment boxes which have given lenders the confidence to approve applications from individuals who would have previously been considered to high risk.
WIN £100 Worth of High Street Vouchers
With this in mind we though it would be the ideal time to gain an understanding of public perception, behaviour and prior experience in regards to car finance. In order to gain this understanding we have compiled a short survey, which can be found here.
As a thank you for taking part in our car finance survey, you will be entered in to a prize draw for the chance to win £100 worth of high street vouchers.