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FLA data shows boost in used car finance deals

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There was a sharp rise in the number of people buying used cars on finance in January, according to the latest data.

Information from the Finance and Leasing Association (FLA) shows that the number of used cars sold using finance rose by 14 per cent in January, compared to the first month of 2011.

This represents further growth for a developing trend, as sales in the three months to the end of January 2012 rose nine per cent, compared to the same period 12 months previously.

However, the rise in the number of vehicles sold on finance during January 2012 was even higher in the new car sector, reporting a 42 per cent year-on-year rise.

FLA head of motor finance said the figures are a surprise, considering that customers usually reduce expenditure immediately after Christmas.

"But good offers at dealerships have attracted customers – and people have taken full advantage of the low rates available on motor finance," he said.ADNFCR-2576-ID-801316873-ADNFCR

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