The Finance and Leasing Authority (FLA) has published its latest figures for consumer finance and asset finance.
The data for Consumer Finance includes retail store and online credit, credit cards and personal loans, second charge mortgages and car finance. Overall the figures show an 8% increase in Consumer Finance new business. Credit card and personal loan new business grew by 5% from the previous year.
Consumer Car Finance has grown by 10% as compared to the previous year. The percentage of private new car sales through dealerships increased from 75.9% in 2014, to 81.4% in 2015.
Asset finance includes plant and machinery finance, commercial vehicle finance, IT equipment finance, business equipment finance, car finance and aircraft, ships and rolling stock finance. The data shows that Asset Finance new business grew by 12% in 2015 (a seven-year high), with the value of new business increasing by 18% in December 2015 as compared with December 2014.