Purchase of loans for Houses.Uncategorized
Anyone who plans a larger purchase and would like to finance this by means of an installment loan, has in the search for a cheap loan offer first and foremost once the topic “Zinsgünstig” in the head. In times when interest rates are at historical lows, as is currently the case, this is synonymous with an increase in consumer spending. When consumer credit costs little due to low interest rates, the willingness of consumers to make purchases by taking out a loan also increases . This willingness to make a loan-financed investment is confirmed by the recently published Consumer Credit Index for the year 2017 of the Gesellschaft für Konsumforschung – GfK for short – which is compiled annually on behalf of the German Banking Association. The consumer credit index is interesting in that it analyzes in which areas of life German consumers are willing to take out a loan in 2017. All in all, more than half of the respondents plan to make a larger purchase within the next twelve months. But in what areas?
Home loans and home loans are in strongest demand
According to this, the demand for financing for relocation and renovation work in 2017, as in the past year, is rising sharply. Matching the new or refurbished apartment is also increasing the demand for loans for furniture and kitchens. Especially for household appliances, according to the index, a huge increase in loan financing is to be expected. The consumer credit index is forecasting growth of around 20% here. This means that around 9 percent more of the consumers surveyed may decide to take out loans for new household appliances compared to the previous year. It should be noted, however, that especially in the product area of the so-called “white goods” consumers enjoy the so-called “zero-percent financing” of the retail trade despite all the risks of a constantly high popularity.
New car on credit still very popular
What is not really amazed is the constant high willingness of the German consumers to finance the new or used vehicle by means of a loan. The survey of consumers showed that in 2017, around 43% could opt for a car loan as part of a new car purchase. For the used cars, the value is still 34 percent. Compared to the previous year’s index, the forecast for 2017 shows a loss of 5% (new car loan = 48%). However, especially in the automotive sector, any forecast on credit financing should be treated with some caution, because, for example, the current DAT report for 2017 shows significantly different figures for credit-financed car purchases. The DAT Report expects a significant increase here.