The latest findings from the BVRLA demonstrate that leasing brokers are playing an increasingly important role in the vehicle finance sector; the results come from a first-time, recently conducted survey of leasing broker activity.
It shows that the leasing sector has seen a 30% increase in fleet size over the past two years and that key funders have reported that they had a total of 161,775 broker-originated vehicles on contract in 2014 – this represents an increase of 20% on the year before and 30% compared to 2012.
In 2014, the broker car lease fleet reached 119,036; contract hire cars made up the largest portion, having grown to 73,140, which was up 15% on the previous year. The fastest growing sector was personal contract hire, where the fleet size rose to 35,242 cars, which was up by 39%.
For commercial vehicles, van leasing volumes rose by 19% to 42,739 units in 2014, with 14% funded via contract hire and 27% funded via finance lease.
BVRLA Leasing Broker Committee Chairman, Mike Potter, said;
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“Our sector is going from strength to strength and has a lot to be proud of.
“We are converting a whole new generation of consumers and businesses to the benefits of low-risk, fixed-cost motoring.”