Consumer car finance decreased by 1% in November

New figures released by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 1% in November, compared with the same month in 2017.

The percentage of private new car sales financed by FLA members through the POS was 91.2% in the twelve months to November.

The POS consumer used car finance market reported new business in November up 5% by value, while volumes remained at a similar level to the same month in 2017.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said “The POS consumer car finance market is on course for single-digit new business volumes growth in 2018 as a whole, despite the quieter performance of the market in November.”

Table 1: Cars bought on finance by consumers through dealerships
New business	Nov 2018	% change on prev. year	3 months to Nov 2018	% change on prev. year	12 months to Nov 2018	% change on prev. year
New cars
Value of advances (£m)	1,411	0	5,418	-6	19,378	+2
Number of cars	67,936	-2	263,085	-9	961,990	-3
Used cars
Value of advances (£m)	1,350	+5	4,400	+9	17,463	+13
Number of cars	108,012	0	355,868	+4	1,454,568	+7
Total cars
Value of advances (£m)	2,761	+2	9,818	0	36,841	+7
Number of cars	175,948	-1	618,953	-2	2,416,558	+3

 

Table 2: Cars bought on finance by businesses
New business	Nov 2018	% change on prev. year	3 months to Nov 2018	% change on prev. year	12 months to Nov 2018	% change on prev. year
New cars
Number of cars	28,820	-13	89,801	-23	412,982	-13
Used cars
Number of cars	5,226	+20	19,223	+58	60,552	+6