Big opportunity for used PCP finance market

WHILE the new car market might be reaching PCP saturation point, the used car market remains a huge untapped resource for PCP finance, said Owen Edwards Associate Director Corporate Finance, Grant Thornton at the VRA seminar in Birmingham, November 22, 2018.

Edwards said that while car usership was one for the future, over the next five years, buyers appeared to be more focused on car ownership.

This opened up ample opportunities for used PCP programmes.

“Currently PCP penetration for new vehicle financing is between 80 and 90%,” said Edwards.

“However, used PCP penetration is at a low 50%. We can expect further growth in this area.”