The production of consumer loans from specialized establishments fell by -1.9% in February compared with the same month last year, which publishes the Good Association of Financial Companies (Credit Bureau Institutions).
The opportunity to take a look at the most underwritten loans in February and to come back to the repurchase of credit. The financial operation which consists in buying back all the credits of the household to regroup them in only one.
A mixed activity in February?
In its last monthly survey on the production of consumer credits, the Credit Bureau Institutions analyzes the level of activity in the sector.
“Despite this decline in the production of new loans in February, the underlying trend remains upward, however: + 6.2% on average over the last three months “. However, and like every month, the association specifies that the level remains far below the peak reached in September(-13%).
The financing of new cars through a rental with option to purchase (LOA) posted a good pace with + 23.3% in February. They represent 474 million USD of production against 384 million USD in February of last year.
In total, if we count the production of earmarked credits for cars and LOA, production posted + 7% in February with 625 million USD.
Decrease in other consumer loans
The most “classic” credits are most often concerned by the grouping of credits. In particular, the appropriations allocated (new cars, used cars, works, etc.) which recorded a drop of -5.5%. In detail, the auto loans taken out for the purchase of a new car fell by -19.6%, while those intended for used vehicles increased by + 1.5%.
Revolving loans fell by -3.8% and personal loans (including loan repayments) fell by -6.5%. The volumes of these two types of credit are the highest with: 1.063 billion for personal loans and 749 million for revolving credits.
A contrasting start to the year
Over the first two months of the year, the picture is less negative than it seems. In fact, total production of conventional credits is + 1.5% and that of LOA + 30.7%.
In detail too, the indicators are more positive, with an increase in second-hand car financing of + 6.6%, + 5.9% for assigned work credits and + 4.5% for personal loans. New car financing posted + 13.1%.
A repurchase of credit to regroup all its loans in one
Do you have several credits in progress and these weigh heavily on your budget? This financial transaction allows you to reduce your debt ratio by grouping all your loans into one (car loan + personal loan, home loan, etc.). You will only have one monthly credit payment to pay with a single credit rate. On Good Bank, you can carry out credit buyback simulations.