Figures disclosed from the Finance & Leasing Association (FLA) show that in the year ending March 2017, the total market for new car finance was £18.6bn, while used-car financing rose to £13.9bn. This large increase in the leasing market demonstrates a shift in the way both fleet and retail customers procure and use their vehicles. Leasing provides the driver with more flexibility in vehicle options and payment plans, which only widens the mobility spectrum.
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In the recent Budget, Chancellor Rachel Reeves introduced changes impacting company car tax, vehicle excise duty, fuel duty and national insurance contributions. The updates included extended tax bands for company cars through to 2030, adjustments in VED and continued fuel duty freeze that offer some relief to businesses and households alike.
Firstly, thank you for your continued support during 2022. It has been an extremely challenging year with vehicle availability still being a significant issue. To give some context, we received over 20,000 booking turndowns from our supplier base during 2022.
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