According to statements by the French association of financial companies, the figures are in good shape for the granting of consumer credit in October 2018, including for auto credit, personal credit up to revolving credit. Indeed, the figures show a progression of nearly 10% in the month of October alone.

Project financing through consumer credit exceeded 4 billion euros for October 2018, which bodes well for year-end 2018 for credit institutions.

 

Car buying, the driving force behind consumer credit

Car buying, the driving force behind consumer credit

Among all the credits consolidation, the purchase of car is the one that has the most volume of credits granted. The figures are eloquent with more than 11 billion euros from credit agencies for the purchase of a car from January to October 2018.

According to the analysis of figures, it seems that more and more French people are choosing the purchase of a used car with a rise of 14% compared to last year, against a little less than 11% progression. for a purchase in the new.

In addition, financing solutions for other vehicles (motorcycles, outboards, motorhomes, etc.) also increased by 21% in October 2018 alone.

 

LOA, the formula that pleases

LOA, the formula that pleases

It is now a constant: the French prefer the lease with Option Purchase Classic auto credit and this preference now extends to the purchase of used car. The increase in LOA operations is 20% for October, 75% of the credits for a new car compared to conventional credit.

With regard to the purchase of used cars, the LOA is also up sharply compared to last year (+ 44% since January) and now accounts for 10% of used car loans.

 

Other credits in progress

credit

Although auto loans are those that represent a significant volume of the amounts granted, the other financing solutions also have good numbers. In fact, conventional consumer credit accounts for 80% of loans granted.

Among them, the personal credit rose a net 6.7% for the month of October. The revolving credit, meanwhile, increased by 3.6%, with a small 0.4% increase over the year.

These types of project financing are equivalent in terms of lending volume granted with the affected credits, which rose by 10% in October, although the conventional car loan fell by 5% over the month.

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