Half Year Results 

S&U hopes to stem rising impairments

S&U hopes to stem rising impairments

Demand for sub-prime motor finance might not be abating, but S&U (SUS) is getting pickier about who it lends to. While applications to Advantage were up 16 per cent during the first half, the approval rate fell to 25 per cent of applications from 31 per cent at the prior year-end. The actual transaction rate was even lower at 2.3 per cent or 11,822, just shy of last year’s record.

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