Release Date: 27/08/2015
The latest figures from the BVRLA show that leasing brokers continue to play an important role in the vehicle finance sector. According to a BVRLA poll of key funders, combined broker volumes for car and van leasing grew to 179,935 units in the first six months of 2015 – up 10% from the end of 2014. Car contracts with leasing brokers grew 7% to 129,370 units, with van leasing up 16% to 50,565 contracts. Contract hire’s share of the car market now stands at 58% of the total fleet – some 75,059 vehicles. Personal contract hire accounts for 43,270 vehicles (33% of the fleet) and was responsible for 44% of new car contracts in the first half of 2015. In van leasing, all finance types showed healthy increases in volumes, with the proportions of new contracts remaining relatively stable – contract hire accounted for 71%, while finance lease made up 34%. Commenting on the figures, the BVRLA’s Leasing Broker Committee Chairman Mike Potter, said: “The leasing broker sector continues to grow in both size and professional ability. It is great to see that BVRLA brokers are providing more and more small and medium-sized businesses with access to affordable vehicle finance.“ “At the same time, we are continuing to work with the Financial Conduct Authority to improve processes, offer more transparency and provide an even greater customer experience
Published by BVRLA
Secrets of PCP v PCH
Channel 4 Dispatches - Secrets of Your New Car
For those that did not see it on Monday 28th August the Channel 4 Dispatches programme did and expose on buying new cars on finance and in particular Personal Contract Purchase (PCP) schemes.
The article using undercover filming exposed questionable sales tactics and confusing advice given by franchised car dealers.
What the programme uncovered was that for a lot of car dealers they would only offer PCP to customers when other cheaper forms of finance were available. Even when questioned about alternatives such as Personal Contract Hire (PCH).
What came out of the programme was that to get the best deals you should consider going to a broker who in the examples they gave could save you over £2000 on a Hyundai i30 over 3 years and about £4500 on Mercedes E Class saloon over 3 years.
For the complete story see the link below
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Horizon Vehicle Leasing Limited
Horizon Vehicle Leasing Limited are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 623486
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