The number of used cars sold on finance in May 2015 was 92,431, up 3% year-on-year, according to the Finance & Leasing Association (FLA).
This was a notable slowdown compared to used car growth figures from recent months. It grew by double digits in both March and April.
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The total value of the finance was up 8% year-on-year in May, to £972m. For the 12 months to May 2015, the number of cars bought on finance and value of the finance was up 10% and 15% respectively.
There was faster growth in the new car space. Here, the number of cars bought on finance grew 6% year-on-year in May to 73,659. The value of the finance grew 10% compared to May 2014, to £1.2bn.
Overall, the FLA said penetration reached 77.6% for the 12 months to July, a record high.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: Growth in point-of-sale consumer car finance in 2015 so far has continued in line with expectations.
"Recent research by Oxford Economics showed the importance of FLA motor finance providers to the UK economy, funding more than 57% of all consumer spending on cars in 2014, up from 35% in 2007."
