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The government’s older car scrappage scheme is budgeted to create 300,000 extra new car sales in this fiscal year and, who knows, it may produce similarly spectacular results to those in Germany. But most of those extra sales will need financing, which is still problematical.
The scale of the problem with auto retail finance is the subject of Trend Tracker’s latest research report, The UK Retail Car Finance Market 2009, which tracks data from 2003 and forecasts the market to 2014. The report clearly shows just how hard the financing of car purchases has been hit by the so-called credit crunch.
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