Car finance sales dip as people wait for new plates
Finance & Leasing Association, the trade body for the motor finance industry has released figures showing the number of new cars bought on finance in February 2011 is 14% down on the same time last year and business investment in new fleet vehicles was also down, by 16% for the same period
Commenting on February’s motor finance figures, Paul Harrison, Head of Motor Finance, said: “January was an unexpectedly strong month for car finance sales, as dealerships offered good deals on interest rates to help buyers offset the impact of the VAT rise to 20%.
“February is traditionally a slower month for dealerships, as people thinking about buying a new car may want to wait until March for the new plates.”
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