Number of loans for cars rises by 32 percent!

Money shop investigated with her ‘Car Loan Investigation’, an annual poll, how often the car loan was closed in 2017. What seems? The number of loans for cars rose enormously in 2017 by 32 percent.

The car loan is particularly popular with young people. The level of financing has, however, fallen. In comparison with 2016, people lend an average of 9.154 for a car loan. This is a decrease of 337 euros compared to the year before.

Average loan amount decreases again

This year, thousands of applications for car loans were examined by Geldshop again. It appears that in the previous 8 months of 2017 the average loan amount for a car that was requested has dropped to 9,154. That is again a decrease. In 2016, Geldshop also discovered that the average loan amount had already decreased compared to 2015. In 2016, it already fell by 16%.

Because consumers apparently borrow less money and request less high loans, this also has consequences for the number of rejections from lenders. In 2017 fewer loan applications were rejected. In 2017, 49% fewer loan applications were rejected compared to the previous year for the first 8 months.

Older people borrow more money and young people more often

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The research also shows that young people more often take out a car loan. And elderly people demand the highest amount. With young people, Geldshop targets young adults of the age group 18 to 30. This category requires the lowest loan amounts on average: 7,778 euros. It seems that many of these young people are still living at home. Older people (51 to 64 years old) borrow higher amounts more often. The average loan amount of this group of people is 11,805 euros.

Compare car loan via

You can also take out a car loan on . Compare the providers on our website with each other first. You can make free use of our loan comparator for car loans. The most popular car loan is the personal loan . The revolving credit is being requested less and less frequently for the financing of cars.