The latest figures from the BVRLA show that leasing brokers are playing an increasingly important role in the vehicle finance sector.
The association recently conducted its first ever survey of leasing broker activity, which showed that the channel has seen a 30% increase in fleet size over the past two years. Key funders reported that they had a total of 161,775 broker-originated vehicles on contract in 2014, an increase of 20% on the year before and 30% on 2012 levels.
The broker car lease fleet reached 119,036 units in 2014. Contract hire cars made up the largest portion, having grown to 73,140, up 15% on the previous year. The fastest growing sector was personal contract hire, where the fleet size rose by 39% to 35,242 cars.
For commercial vehicles, van leasing volumes rose 19% to 42,739 units in 2014, driven by growth in contract hire (+14%) and finance lease (+27%) products.
Commenting on the figures, the BVRLA’s Leasing Broker Committee Chairman Mike Potter, said: “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.”