Have you always wondered who is taking those consumer loans? Well now it is clear, as we were working with Kopla, a customer understanding agency, on the attitude of Finns towards consumer credit.
There are many types of consumer loans and you can easily compare their features in our free loan comparison:
You can apply for a loan up to $ 50,000 in our comparisons. These loans are offered, for example, by Good Finance.
The study showed that consumer credit would most likely be sought:
- Male (77.4% would take consumer credit)
- 40-50 years old (94.1% would take consumer credit)
- Family-friendly (79.1% would take a consumer credit)
- Senior Clerk (84.2% would take consumer credit)
- Person earning more than € 40,000 a year in gross income (82.8% would take consumer credit)
Men are more willing to take consumer credit – Women are more cautious
In general, men were more positive about the use of consumer credit than women, especially for buying a new car. About a third of female respondents could not imagine taking consumer credit for any purpose.
Over a third of both men and women considered consumer credit an appropriate form of financing for renovation or decoration.
Over a third of both men and women considered consumer credit a suitable form of financing for renovation or decoration.
Families borrow for repairs or car rentals, for a lonely holiday
About half of those with a family would take consumer credit for renovation or decoration, or for the purchase of a car (39.5%). Remodeling was also the most popular way of using consumer credit for people living with a spouse / partner (29.6%). Individuals, on the other hand, prefer to finance their holiday with consumer credit (34.2%) slightly more than renovation or a car.
High income earners are more positive about consumer credit use
Income also influenced the attitude towards consumer credit. Up to 82.2% of those earning less than € 40,000 a year could take out consumer credit, while 42.1% of those earning less than € 20,000 could not imagine taking a consumer loan.
Of the average income earners of € 30- $ 40,000 a year, 40% could not even imagine taking a consumer loan, although almost half saw a consumer loan as a good way to finance a renovation.
There are differences between professional groups in the use of consumer credit.
Senior employees were the most favored with consumer credit, especially for renovation loans (63.2%) or car loans (52.6%), compared to lower salaries and employees, on average only one-third had taken or would take consumer credit.
About a third of students would take consumer credit for a larger purchase. However, more than 40% of students would not take consumer credit for any purpose.