More and more French people are subscribing to consumer credit to make ends meet. This increase should still continue, especially because of inflation, reports TF1 Info, this Wednesday.
Ovens, fridges, televisions... Many French households are forced to use these credits to finance some of their purchases. This is the case of a woman interviewed by our colleagues, whose oven broke down. Instead of spending 150 euros, the latter chose to pay 30 euros per month.
Wealthier homes than before
According to the French Association of Financial Companies, consumer credit would be up 7.7%. Loans, caused by inflation, which would be subscribed by households belonging to more affluent social categories than usual. "This means that they themselves also need, with inflation, to use consumer credit to finance unexpected expenses," said Maël Bernier, spokesman for Meilleurtaux.com.
Interest rates at 4.9%
However, these new customers borrow less. In 2020, the average amount of a consumer credit was 11,000 euros, while in 2022, it was 8,500 euros. This decline correlates with rising interest rates.
According to the director of studies at Empruntis, "to subscribe to a consumer credit over 48 months for 8,500 euros, you will pay about 1,100 euros in interest" Today, interest rates on these loans reach 4.9%. And that's not going to stop anytime soon. According to this expert solicited by TF1, rates should continue to rise and could reach 7% in 2024.
- Consumption
- Economy
- Inflation
- Credit
- Loan