2024-05-14 11:23:07
The number of loans planned to address cash flow needs in 2023 is increasing, noted a study by Meilleurtaux. Applicants who are mostly alone, with a more vulnerable profile.
In times of high inflation, the French borrow more and more to make ends meet. In 2023, more than one in two consumer loans requested (56%) aimed to cover cash flow needs, according to a barometer revealed by Meilleurtaux this Tuesday, May 14. The almost 400,000 applications submitted on the broker’s platform, up 10% compared to 2022, are not mainly related to specific equipment financing, but to a lack of urgent funds. In the previous year, requests for cash flow requirements already applied to 48% of credits. One in four consumer loans in 2023 are related to vehicle financing and 15% to doing work.
If the number of consumer loans increases, the amount borrowed (8,020 euros on average) decreases significantly, 23% in one year. The duration of the loan also falls by two months, to an average of 43 months. «The rise in rates and the prudence of lenders are the main reasons for the reduction in loans., explains Maël Bernier, spokesperson for Meilleurtaux, in a press release. The average net income of borrowers (2,495 euros for singles, 4,307 euros for couples), however, remains stable.
Two-way projects give banks peace of mind
Three out of four loans requested for cash flow reasons are for single people (single, divorced or widowed) compared to 23.4% for couples. Profiles “weaker”notes Mael Bernier, “individuals who suffer inflation-related increases and must face cash flow problems”. On average, these are the smallest loans, at 4,467 euros.
On the other hand, couples make the majority of applications for consumer credit to finance work (58.7%). “Banks are less cautious about lending to people doing this kind of project in pairs, and the risk is lower because it’s split between two salaries”, notes the spokesman for Meilleurtaux. The average loan is much higher: 13,012 to finance a car, 11,642 euros for work.
#consumer #loans #ends #meet