More people 'choose to lease a car'

New figures released by the Finance and Leasing Association (FLA) have shown an increase in the number of people choosing to lease a car instead of buying one.

There was a 55% year-on-year rise in the overall value of car leasing during the past three months.

The amount advanced to car lease customers stood at over £100 million in the quarter ended June 2011, up from £66 million during the same period last year.

Paul Harrison, head of Motor Finance at the FLA, said: "While personal contract purchase and hire-purchase deals remain popular, increasing numbers of people are turning to leasing as an affordable finance option.

"If insurance and servicing are included, it can make financial sense to lease, particularly for motorists who like to change their car every few years."

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