FLA Members Tally £38bn Of Motor Finance Business In 2020
Motor Finance Online have reported on the figures recently released by the Finance & Leasing Association (FLA) on the new finance business written in 2020. The FLA have reported that its members in the motor finance market provided £38bn in new funding in 2020 representing a 19% fall from the 2019 total.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Despite the restrictions introduced throughout last year as a result of the pandemic, the consumer car finance market provided finance for over 1.9 million cars in 2020 as a whole. The vaccine rollout in the UK has improved the outlook for the UK economy in the second half of 2021.”