Credit, collections & insolvency news
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 3% in September 2023 compared with the same month in 2022. The corresponding value of new business held steady over the same period. In the nine months to September 2023, new business volumes were 6%…
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New research by car finance provider, Ford Credit has uncovered a gap in consumer financial literacy with one in ten admitting they can’t confidently explain key financial topics. More than 50% of people looking to buy a car in the next 12 months plan to use car finance; this comes at a time when the…
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New figures released by the Finance & Leasing Association (FLA) have shown that consumer car finance new business fell 11% by both value and volume in August 2023 compared with the same month in 2022. In the first eight months of 2023, new business was 6% lower by both value and volume compared with the…
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New figures released by the Finance & Leasing Association (FLA) have shown that consumer car finance new business volumes fell in July 2023 by 6% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period. In the seven months to July 2023, new business also…
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Motorists are set to spend a record 1.5 million used cars on finance this year borrowing £23 billion on car finance new research by AA Car Finance has revealed. Consumers bought 388,309 second-hand cars on finance in the first three months of 2023, up from 379,512 the previous year. If current trends continue, consumers will…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in May 2023 by 10% compared with the same month in 2022. The corresponding value of new business also fell by 10% over the same period. In the five months to May 2023, new business fell…
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New figures released by the Finance & Leasing Association (FLA) have shown that consumer car finance new business volumes fell in February 2023 by 5% compared with the same month in 2022. The corresponding value of new business also fell by 5% over the same period. In the first two months of 2023, new business…
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Latest data by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in January 2023 by 3% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period. In the twelve months to January 2023, new business grew 5% by…
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New research by Startline has found that a £500 hike in the cost of living would force 34% of motorists to sell their car Whilst 29% of motorists would have to sell their vehicle if the cost of living increased by £250. The research also showed that 14% of people said their car would have…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2022 by 12% compared with the same month in 2021. The corresponding value of new business decreased by 6% over the same period. In the first half of 2022, new business volumes were 6%…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in March 2022 by 2% compared with the same month in 2021. The corresponding value of new business grew by 8% over the same period. In Q1 2022 as a whole, new business…
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Motor finance applications, including Personal Contract Purchase (PCP) and Hire Purchase (HP), rose by 13% month-on-month in March as the new ‘22’ plate launched, marking the highest rate in March since 2019, according to new research by Experian. Experian says that car deal searches have returned high levels of car finance applications following a turbulent…
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Car finance company, Go Car Credit has reported a 15% increase in average car loan amounts from 2020 to 2021. Reporting a 25% increase in secured agreements in 2021 compared to 2020, it appears vehicle financing continues to see a boost despite the pandemic and semi-conductor shortage. With the average age of those taking out…
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