The production of consumer credit continues to slow, according to the latest figures provided by the ASF (Association of Financial Companies). In October, activity was almost unchanged ( + 0.3% over one year ).
The survey shows at least mixed results. For example, quarterly production is up 4.2%. A good progression, but it is advisable to relativize it if one compares it with the peak of production reached in September 2008 (-15.2%).
By type of loan, it’s simple, all the financing shows decreases:
The appropriations allocated: -4.8% over one year, of which – 3.8% for the credits financing the equipment of the household;
Renewable credits: -2.6%;
Personal loans: -1.8%.
Good to know
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In the end, the activity is saved by the rentals with option to purchase, more commonly called LOA. In terms of volume, we are still far from conventional credit operations: 505 million euros, against 2 919 million euros. But the increase in production is considerable. It even accelerated compared to last month: + 24% in October, against 19.6% a month earlier.
For the record, the LOA is a solution for renting a property, with the possibility of buying it at the end of the rental period.
This financial solution is particularly used by buyers of new vehicles. As such, the ASF figures for the production of automotive LOA are clear: it increased by 25.7% in October.