Before the start of the yellow vests movement initiated in November, the production of consumer loans was doing well if we believe the figures of the French association of financial companies: + 9.2% in October 2018. Personal loan, credit affected… All products benefited, even revolving credit!
The increasingly important LOA
Consumer credit exceeded 4 billion USD in financing for French households in October 2018 alone, thanks to a 9.2% jump compared to the same period a year earlier. In 2018, the cumulative first ten months showed an increase of 6.3%. One constant: rental operations with option to purchase (LOA) are pulling the whole thing up, with an increase of 20% again in October. The LOA never ceases to gain followers for the purchase of a used vehicle (+ 44% from January to October) and represents nearly 10% of transactions for this type of car, thus cutting croupiers to classic car credit. In new buildings, the LOA now weighs three times more than the car loan.
Revolving credit is maintained
Among conventional consumer loans, which remain very clearly in the majority compared to the LOA (80/20), personal loans saw a good increase in October (+ 6.7%), while revolving credit experienced a All in all, progression (+ 3.6%), which enabled it to be up in 2018 (+ 0.4%). Their volume is close to that of the affected loans, also increasing (+ 10.7% in October 2018), despite the decline in conventional car loans (-5.2% over the month, -0.5% from the start of the year). The financing of household equipment through consumer credit saw a sharp upturn in October (+ 15.6%).
Auto financing, a pillar of consumer credit
Auto financing remains a pillar of consumer credit: it is more than 11 billion USD, or almost a third of the total volume granted between January and October 2018. The increase over this period was 11.4% in the new and 14.1% in the old. But the good health of the auto loan should not make us forget that the credits allocated to the purchase of other vehicles (motorbike, boats, etc.) also work well: + 21.3% in October. Almost 850 million USD over the first ten months of 2018.