The Finance & Leasing Association (FLA) has highlighted a growth in used car finance deals in April.

According to the organisation's figures, new business in the sector grew by 26 per cent in value and 22 per cent in volume during April in comparison to the same month last year – marking a two-year record high for the industry.

Paul Harrison, head of motor finance at the FLA, said: "The two-year high in private used car finance could be attributed to customers returning to that market following the release of the new car number plate the previous month."

The news builds on considerable improvement in the used car finance sector in March, with the FLA revealing a 27 per cent upturn in deals during the month in comparison to March 2012. Furthermore, the total value of loans taken out during the first quarter of the year was up by 22 per cent.

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