Consumer credit rose sharply in 2021 to return to its pre-pandemic level, the French Association of Financial Companies (ASF) said on Tuesday, driven by the financing of used vehicles, household equipment and Recreation.
This mode of credit, a traditional pillar of financing, has progress of 12.6% last year 45.3 billion euros, calculate the authors of a monthly study on the subject.
It slightly exceeds the amount recorded in 2019 (44.4 billion euros), a level also comparable to the period preceding the 2008 financial crisis.
The ASF notes in particular a clear increase in LOA operations (Rental with Option to Purchase) of private vehicles, in particular during the fourth quarter.
This formula has the wind in its sails and is developing on the second-hand market. Thus 22% of used passenger cars were financed by LOA last year, compared to 14% in 2020. For the new car market, the share reached 82% last year.
The study also reports on a fine performance of household equipment financing (appliances, multimedia equipment, furniture, etc.) with double-digit growth: +11.4% in 2021 compared to 2019, the year of comparison chosen being the year 2020, marked by the Covid-19 pandemic, was atypical .
The category of other goods or services, bringing together pell-mell two-wheelers, recreational vehicles, automotive accessories, pleasure boats, leisure travel and others is also in flourishing health.
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The personal loans and revolving creditswhich represent nearly half of production, do not, however, find not their 2019 levels.
The ASF brings together some 260 companies in equipment and real estate leasing, factoring and other associated services.
For consumer credit, it only presents the figures of its members, who represent nearly 50% of the outstanding amount of all credit institutions and the majority of revolving credit operations, she specifies.