Who takes out consumer credit?

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:

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

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

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

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.

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.

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