logo-loader

Surge of car finance customers underlines encouraging trends at S&U says chairman

Published: 21:05 24 May 2019 AEST

Anthony Coombs, chairman of car finance group S & U PLC (LON:SUS), told Proactive that it has seen a surge of new customers since February.

S & U tightened its lending criteria last year and it is now seeing the benefit, said Coombs.

Loan quality is improving, he adds, with lower impairments and faster collections.

Property finance arm Aspen is also going well with a record pipeline of applications.

Overall, the trends are very encouraging said Coombs in spite of an uncertain economic backdrop.

New car wobble should help Advantage car loan business, says S&U’s Coombs

Anthony Coombs, chairman of S&U PLC (LON:SUS) told Proactive he expects the used car market to remain strong and underpin another good year for the finance firm. Unlike new cars, the used car finance market grew by 6% in 2017 helping S&U lift profits by 20%. ''Our customers...

on 28/3/18