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Credits to refinance debt double and those destined to buy a car fall

About 20% of Spaniards have the intention to request a loan to refinance debts, compared to 10% in June, according to the Second Barometer of consumer loans prepared by Asufin. Likewise, Spaniards who intend to request a loan at the moment have gone from 14.2% to 19.2%, and among them, 53.6% is oriented to the need to obtain liquidity (34.5%) or to clean up the debt situation in which they are (19.1%).

On the contrary, there has been a drop in the application for loans to finance the purchase of a car, which has fallen to only 13%, compared to 25% in the middle of last year. The slope of the vacation loans, which has dropped from 6.2% to 1.1%.

Asufin explains that, faced with the reality of a moment in which citizens manifest the need to borrow To face their economic problems, financial institutions are making prices significantly more expensive.

The price increase occurs more in the short term, that is, in loans of 1 to 5 years, with an average of 8.79%, compared to 7.45% last June. In the long term, loans of more than five years, interest rates escalate to a lesser extent, going from 7.89% to an average of 9.01%. This is shown by the data collected by the association of the 19 main banking entities and Financial Credit Establishments (EFC) linked and not linked to automotive manufacturers.

The president of Asufin, Patricia Suárez, has stressed that the situation is especially complicated for many consumers, while their financing needs collide with a more expensive market. “Until the foundations of the economic recovery do not begin to be more solid, with a rebound in activity and consumptionWe have to be very attentive to the imbalances that may emerge at this time related to excessive indebtedness, such as non-payment or delinquency, “he specified.

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