New car motor finance increased by 24% in value, year-on-year, to £1.2bn in November, according to figures released by the Finance & Leasing Association (FLA).
There were 70,113 cars sold on finance in November 2015, 17% more than the same month in the previous year.
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There was a similar story for used car finance, with the number of cars sold on finance growing 18% year-on-year to 90,115 and the value of advances growing 22% over the same period to £980m.
The point-of-sale consumer used car finance market also saw strong growth in November, with new business up 18% by volume and 22% by value.
Commenting on the figures, Geraldine Kilkelly, head of research and chief economist at the FLA, said: "The growth in new business in November reflects the continuing strength of consumer confidence. The point-of-sale consumer car finance market is likely to report growth in new business volumes for 2015 as a whole of 9%, in line with expectations."
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By GlobalData
