Consumer vehicle finance market shows promising growth
Recent figures released by the Finance & Leasing Association (FLA) show a growth of 25% in the number of cars bought by consumers using dealer finance in January 2014, compared with the same month last year. The increased figures are in line with a rise in confidence levels predicted for the first quarter of 2014. According to the FLA’s latest press release on the motor finance sector, consumer new and used car finance volumes also grew by similar rates – up 24% and 25% respectively.
Along with a positive start in 2014 for the vehicle financing sector, the FLA have also reported that new business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year. That has led the way to double digit growth for commercial vehicle finance, business equipment finance and plant and machinery finance, which were up by 25%, 21% and 13% respectively. The rise in consumer confidence and the latest finance reports showing the strongest rise in new business for more than a year, looks like it’s heading toward a positive 2014 for business start-ups and for established businesses; allowing them to consider adding new equipment or machinery, such as new fleet vehicles. For more in depth figures/tables on the finance reports and more about the UK’s leading trade association for the consumer credit, motor finance and asset finance sectors, please visit the FLA website here.
Whether you are starting a new business or expanding your existing fleet, Low Cost Vans has the widest range of new commercial vehicles for purchase, lease, or hire to businesses and private individuals. Give them a call or search the fantastic discounts and competitive finance options available on the website.
Along with a positive start in 2014 for the vehicle financing sector, the FLA have also reported that new business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year. That has led the way to double digit growth for commercial vehicle finance, business equipment finance and plant and machinery finance, which were up by 25%, 21% and 13% respectively. The rise in consumer confidence and the latest finance reports showing the strongest rise in new business for more than a year, looks like it’s heading toward a positive 2014 for business start-ups and for established businesses; allowing them to consider adding new equipment or machinery, such as new fleet vehicles. For more in depth figures/tables on the finance reports and more about the UK’s leading trade association for the consumer credit, motor finance and asset finance sectors, please visit the FLA website here.
Whether you are starting a new business or expanding your existing fleet, Low Cost Vans has the widest range of new commercial vehicles for purchase, lease, or hire to businesses and private individuals. Give them a call or search the fantastic discounts and competitive finance options available on the website.
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