Author: FLA (Finance and Leasing Assoc) Official News

5 October 2018
New figures released today by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market grew by 9% in August, compared with the same month in 2017, while the value of new business was up by 14% over the same period.
The percentage of private new car sales financed by FLA members through the POS fell slightly to 89.6% in the twelve months to August.
The POS consumer used car finance market reported new business in August up 9% by volume and 15% by value, compared with the same month last year.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“A boost to private new car sales in August ahead of changes to emission standards in September contributed to the increase in new business volumes reported by the POS consumer new car finance market. In the first eight months of 2018, new business volumes in this market were at a similar level to the same period in 2017.
“The average advance reported by the POS consumer car finance market in August was 5% higher than in the same month in 2017, in line with growth in new and used car prices over the same period.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Aug 2018
% change on prev. year
3 months to Aug 2018
% change on prev. year
12 months to Aug 2018
% change on prev. year
New cars
Value of advances (£m)
974
+14
4,069
+10
19,729
+4
Number of cars
50,936
+9
203,256
+4
986,703
-4
Used cars
Value of advances (£m)
1,542
+15
4,538
+13
17,043
+14
Number of cars
127,287
+9
374,261
+7
1,440,465
+8
Total cars
Value of advances (£m)
2,517
+14
8,607
+12
36,772
+8
Number of cars
178,223
+9
577,517
+6
2,427,168
+3
Table 2: Cars bought on finance by businesses
New business
Aug 2018
% change on prev. year
3 months to Aug 2018
% change on prev. year
12 months to Aug 2018
% change on prev. year
New cars
Number of cars
27,108
-6
107,798
-15
440,953
-9
Used cars
Number of cars
4,100
-16
13,578
-18
54,479
-8
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.

5 October 2018
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 10% compared with the same month last year.
Credit card and personal loan new business together grew by 9% compared with August 2017, while retail store and online credit new business increased by 7%. Second charge mortgage new business fell 2% by value and grew 6% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said
“Growth in consumer finance new business in August reflected a strong retail sales performance over the same period. In particular, the value of retail sales made by household goods stores grew at its strongest monthly rate for more than a decade.”
Table 1: New consumer credit lending
Aug 2018
% change on prev. year
3 months to Aug 2018
% change on prev. year
12 months to Aug 2018
% change on prev. year
Total FLA consumer finance (£m)
8,172
+10
25,515
+9
102,751
+8
Data extracts:
Retail store and online credit (£m)
708
+7
2,175
+5
9,375
+9
Credit cards & personal loans (£m)
4,423
+9
13,274
+10
51,469
+9
Second charge mortgages (£m)
92
-2
282
-1
1,022
+2
Car finance (£m)
2,517
+14
8,607
+12
36,772
+8
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.

7 September 2018
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business grew in July by 9%, compared with the same month last year.
Credit card and personal loan new business together grew by 11% compared with July 2017, while retail store and online credit new business increased by 4%. Second charge mortgage new business was up 6% by value and 5% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“Growth in consumer finance new business in July reflected the strength of retail sales over that period. Our latest research suggests that new consumer credit in the UK is likely to grow by around 5% in 2018 as a whole, in line with the annual rate of growth in 2017.”
Table 1: New consumer credit lending
Jul 2018
% change on prev. year
3 months to Jul 2018
% change on prev. year
12 months to Jul 2018
% change on prev. year
Total FLA consumer finance (£m)
8,627
+9
26,418
+10
101,874
+8
Data extracts:
Retail store and online credit (£m)
742
+4
2,236
+6
9,329
+9
Credit cards & personal loans (£m)
4,517
+11
13,558
+11
51,095
+9
Second charge mortgages (£m)
98
+6
277
-1
1,024
+4
Car finance (£m)
2,889
+11
9,232
+11
36,317
+8
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.

7 September 2018
New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer car finance new business volumes grew 6% in July, compared with the same month in 2017, while the value of new business increased by 11% over the same period.
The POS consumer new car finance market reported new business in July up 5% by volume and 10% by value, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the POS was 89.8% in the twelve months to July.
The POS consumer used car finance market reported new business in July up 6% by volume and 13% by value, compared with the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The point of sale consumer car finance market reported new business volumes up by 4% in the first seven months of 2018, in line with expectations of modest single-digit growth in 2018 as a whole.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Jul 2018
% change on prev. year
3 months to Jul 2018
% change on prev. year
12 months to Jul 2018
% change on prev. year
New cars
Value of advances (£m)
1,376
+10
4,707
+11
19,602
+4
Number of cars
68,786
+5
230,414
+5
982,073
-5
Used cars
Value of advances (£m)
1,513
+13
4,524
+12
16,715
+13
Number of cars
125,153
+6
376,445
+6
1,420,591
+7
Total cars
Value of advances (£m)
2,889
+11
9,232
+11
36,317
+8
Number of cars
193,939
+6
606,859
+6
2,402,664
+2
Table 2: Cars bought on finance by businesses
New business
Jul 2018
% change on prev. year
3 months to Jul 2018
% change on prev. year
12 months to Jul 2018
% change on prev. year
New cars
Number of cars
39,930
-14
121,447
-13
443,579
-8
Used cars
Number of cars
4,208
-45
13,664
-16
59,946
-1
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.

15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes grew by 1% in June, compared with the same month in 2017, while the value of new business was up by 9%.
The percentage of private new car sales financed by FLA members through the POS was 89.5% in the twelve months to June.
In the POS consumer used car finance market, new business was up 4% by volume and 11% by value in June, compared with the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The point of sale consumer car finance market reported new business volumes up in the first half of 2018 by 4% compared with the same period in 2017. This was in line with expectations, with a modest fall in consumer new car finance volumes offset by single-digit new business growth in the consumer used car finance market.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Jun 2018
% change on prev. year
3 months to Jun 2018
% change on prev. year
12 months to Jun 2018
% change on prev. year
New cars
Value of advances (£m)
1,717
+9
4,962
+18
19,479
+4
Number of cars
83,470
+1
243,495
+12
978,713
-6
Used cars
Value of advances (£m)
1,460
+11
4,562
+16
16,528
+13
Number of cars
119,903
+4
383,302
+10
1,412,991
+7
Total cars
Value of advances (£m)
3,176
+10
9,524
+17
36,007
+8
Number of cars
203,373
+3
626,797
+11
2,391,704
+2
Table 2: Cars bought on finance by businesses
New business
Jun 2018
% change on prev. year
3 months to Jun 2018
% change on prev. year
12 months to Jun 2018
% change on prev. year
New cars
Number of cars
40,691
-22
126,092
-6
449,903
-7
Used cars
Number of cars
5,087
-4
13,615
+17
63,428
+11
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.

6 July 2018
New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 15% by value and 10% by volume in May, compared with the same month in 2017.
The percentage of private new car sales financed by FLA members through the POS was 89.3% in the twelve months to May 2018, unchanged compared with the same period to April 2018.
The POS consumer used car finance market also reported new business growth in May 2018 of 12% by value and 9% by volume.
Geraldine Kilkelly, Head of Research and Chief Economist, said:
“Monthly falls in new business volumes reported by the consumer new car finance market in the first three months of 2018 have been followed by a recovery in April and May, in line with demand for new car purchases.
“The POS consumer car finance market reported new business volumes overall up by 4% in the first five months of 2018, consistent with expectations for the year as a whole.”
Table 1: Cars bought on finance by consumers through dealerships
New business
May 2018
% change on prev. year
3 months to May 2018
% change on prev. year
12 months to May 2018
% change on prev. year
New cars
Value of advances (£m)
1,615
+15
6,657
+5
19,337
+3
Number of cars
78,158
+10
329,303
-1
977,508
-6
Used cars
Value of advances (£m)
1,552
+12
4,578
+13
16,370
+13
Number of cars
131,389
+9
387,565
+8
1,408,064
+8
Total cars
Value of advances (£m)
3,166
+13
11,236
+8
35,707
+7
Number of cars
209,547
+9
716,868
+3
2,385,572
+1
Table 2: Cars bought on finance by businesses
New business
May 2018
% change on prev. year
3 months to May 2018
% change on prev. year
12 months to May 2018
% change on prev. year
New cars
Number of cars
40,826
-2
132,595
-4
461,482
-4
Used cars
Number of cars
4,369
+35
17,398
+52
63,646
+15
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.

15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business grew in June by 9%, compared with the same month last year.
Credit card and personal loan new business together grew by 10% compared with June 2017, while retail store and online credit new business increased by 5%. Second charge mortgage new business fell 6% by value and 3% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures for consumer finance new business continued to reflect wider economic trends, with the World Cup and hot weather providing a further boost to retail sales.
“FLA members’ share of the UK consumer credit market held steady in the twelve months to June at 35.9%.”
Table 1: New consumer credit lending
Jun 2018
% change on prev. year
3 months to Jun 2018
% change on prev. year
12 months to Jun 2018
% change on prev. year
Total FLA consumer finance (£m)
8,691
+9
26,519
+14
101,120
+8
Data extracts:
Retail store and online credit (£m)
726
+5
2,213
+8
9,302
+10
Credit cards & personal loans (£m)
4,333
+10
13,431
+14
50,662
+9
Second charge mortgages (£m)
91
-6
262
-2
1,019
+6
Car finance (£m)
3,176
+10
9,524
+17
36,007
+8
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.