FLA supports calls for more help for car finance lenders

Commenting on the Business and Enterprise Select Committee report on Government assistance for the car industry, in which they recognised the need to provide support for companies providing motor finance to consumers and businesses, Stephen Sklaroff, Director General of the Finance & Leasing Association, said: "Access to well-priced wholesale funding is still a problem for many motor finance providers and that means they may become unable to meet customer demand for car finance. We have been discussing the issue with the Department for Business since November 2008. We now need practical action on schemes to help improve the availability and affordability of funding."