Third part dedicated to the study on the credit market conducted by the broker Emperic. We are interested here in consumer credit.
Activity up in 2016
As we saw earlier for home loans and credit insurance, the credit market has performed well according to the figures of Emperic. An improvement that also affects consumer credit.
Last year, the broker saw this activity grow by 3%. The files filed mainly concerned car loans (38%), followed by personal loans (35%), motorcycle loans (14%) and work loans (10%).
Admittedly, the survey led by Emperic is based on the number of files filed on its website. It echoes the figures published by the ASF (French Association of Financial Companies) which publishes each month a bulletin on the production of consumer credit.
His latest statistics report a recovery of the market with + 7.9% of production over 1 year in December, driven by the boom of the LOA (lease with option to buy). This financial solution combining rental and acquisition is the first way to finance new vehicles, ahead of conventional car loans.
Are you interested in buying a vehicle? Feel free to check our barometers for an overview of current car loan rates.
The intentions that are confirmed in 2017
And in 2017? Borris, assisted by the CSA Institute, interviewed a panel of French. They are 91% to have a project in 2017, including:
72% who plan to have fun (travel, gifts, car, wedding…);
39% who wish to find a financial serenity ;
37% who plan to equip their home.
A third party is considering using credit
To finance their project, 33% of respondents plan to use credit. This is the case for 92% of those planning to buy real estate. This is also the case for 28% who have work projects in mind or equipment purchases, 20% who have a personal project and 14% who want to ” get back on their feet financially “.
Regarding credit, the French are rather ants than cicadas. They perceive this product as something serious and engaging:
for 78%, a credit is a heavy responsibility ;
for 74%, it is a way to finance an important project such as a real estate project ;
for 72%, this makes it possible to cope with an unforeseen financial situation.
Obstacles could nevertheless encourage the French not to implement their projects: the economic situation, the “accidents of life ” and the financing itself.
” Contrary to popular belief, the French have a cautious and moderate recourse to credit: personal savings are first used for” pleasure “and personal projects, where credit remains associated with a useful or major project, analyzes Cécile Roquelaure, director of communication of Emperic. To use this tool, which is considered cumbersome and complex, the French need to be accompanied, especially young people, for whom access to finance is paramount and paradoxically more restricted at this stage of their lives, “she concludes.