This report on the retail car finance market, published in August 2004, is a comprehensive analysis of current trends in the retail market for car finance supplied by car dealers and by direct lenders between 1999-2004, with forecasts to 2009.
The report concentrates on the retail finance market and therefore excludes the wholesale finance market and the financing of company and business fleets. The report analyses all aspects of the retail car finance market including market size and trends and the structure of car finance supply in Britain. In addition to analysing the main elements of the market, the report also provides a comprehensive analysis of the factors that influence market demand. These include developments in the UK economy, demographic and car ownership trends, consumer credit and finance trends, new and used car sales and legislation.
Executive Summary
Market Background 1999-2004
The UK economy; demographic trends and car ownership; UK demand for cars; size and structure of the car parc, scrappage rates and car parc size.
The Retail Car Finance Market 1999-2004
Market size and trends by value and volume; new and used car finance; POS and direct (loans) car finance; POS product segmentation - new and used cars; market trends - voluntary terminations, sub-prime finance; product trends - HP, PCPs, POS loans, personal leasing, personal loans, mortgage lending.
Factors Influencing the Market
Vehicle taxation; Block Exemption Regulation; car replacement cycles; outright purchase and pay-for-use; used car residual values; interest rates and finance; rising demand for credit; rising house prices; County Court judgements; finance legislation; Basel capital accord; EU money laundering directive; FSA regulations.
The Finance Supply Structure 1999-2004
Vehicle manufacturer captive finance companies - Ford Credit, GMAC, Volkswagen Financial Services; Independent finance companies - Black Horse, Capital Bank, GE Capital, Cattles, Paragon Car Finance, Singer & Friedlander, Close Motor Finance, Carlyle Finance; Direct lenders - high street banks, building societies, Internet banks, other direct lenders.
Car Finance Distribution
Number of distribution outlets 1999 and 2004 - bank branches, car dealers, financial advisers, building societies, credit and finance companies, finance brokers; franchised car dealers, largest dealer groups 2004; independent car dealers, largest independent car dealers 2003; channel usage for car loans; Internet distribution.
The Finance Consumer
Trends in car finance; main methods of financing car purchase - savings, car dealer finance, personal loans, employer cash allowance, credit card cheques, house mortgage; source of finance by main car driven; demographic analysis of main finance methods; finance methods used by vehicle make and length of ownership; demographics of personal loan users; vehicle purchase price and finance used.
The Future and Conclusions 2004-2009
The UK economy, interest rates, house prices, external shocks, consumer disposable incomes, slowdown in consumer spending; The car finance market, forecasts by volume and value 2004-2009, market and product trends, market and product opportunities; The supply structure, independent finance companies, direct lenders; Distribution, distribution and block exemption; The motor finance consumer
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