FLA supports private car purchases with £40bn lending
The Finance and Leasing Association provided a record £162.8bn in new lending last year, with a quarter of that total supporting private car purchases.
The annual total represents a five per cent increase on 2024’s total lending.
Figures reveal that £40.3bn was provided to businesses for investment in machinery, equipment, and vehicles, including £24.4bn to SMEs.
A further £122.5bn was provided to households, including £41.1bn for new and used car purchases, with £2bn provided by non-bank lenders.
Investment
Shanika Amarasekara, CEO of the FLA, said: “Asset finance, motor finance and consumer finance are essential to the UK’s real economy. They help businesses invest, support households with the cost of major purchases and keep economic activity moving across the country.
“Our latest data highlights the significant role FLA members have played over the past year, continuing to provide finance to businesses and consumers despite a challenging economic backdrop.
“With the right economic and regulatory environment our sector can continue to play a crucial role in supporting investment, helping businesses grow and ensuring households can access the finance they need.”
