Market forces which have seen the lower market car category push up into the mid-market sector, coupled with the simultaneous luxury car category pushing down into the mid-market sector, have driven finance broker First Vehicle Leasing to record growth.
Having funded some £48 million of vehicle transactions throughout its latest financial year, Graham McCarthy, operations manager at First Vehicle Leasing, attributes the record figure to the dynamic market forces which have seen a dramatic growth in the crowded space for mid-market cars acquired via personal leasing over recent years.
“65% of our turnover is personal vehicle leasing, rather than the commercial market, and we have benefited from a healthy rise in demand within this market sector,” he said.
“With UK drivers showing a renewed appetite for high-performance, aspirational brands, which have become more affordable, with some great leasing deals available, we are optimistic that there is ample scope for further significant growth.
“Another market trend worth noting is that brand loyalty has gone out the window of late – it’s all about the deal – and there’s plenty deals to be had.”