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July 28, 2021

Few Romanians borrow money to buy cars

Romanians are no longer borrowing money to buy cars. The demand for passenger vehicle financing dropped by 55 per cent in the last three months, according to an analysis of the infoStatistici.ro portal, cited by Agerpres. The survey also suggests that a quarter of Romanians choose loans from EUR 2,000 to EUR 10,000 to buy a car. According to the source, loans in RON are the first option of potential customers interested in buying a car while at the opposite end there are the loans in Swiss francs, the demand for which is 13 time smaller. In the period from September 15 to October 14 – the first month assessed by the survey, a total of 2,935 respondents looked up motor-vehicle financing options online. The potential demand decreased by 30 per cent in the following month, to 2,034 respondents and the decline continued in the period from November 15 to December 14 – the last month covered by the poll, 2010, when the demand dropped to 1,305 respondents.

On the other hand, 25 per cent of the subjects of the survey said they chose small loans to finance the acquisition, ranging from EUR 2,000 and EUR 10,000, whilst another quarter of the Romanians who would buy a car on credit earn no more than EUR 250. The data processed by infoStatistici.ro shows a high interest among Romanians in car financing loans in RON compared to other currencies. Most respondents (11.62 per cent) admitted to the fact that they were up to borrowing EUR 10,000 in order to buy a vehicle. The next position is taken by customers who would borrow a maximum of EUR 5,000 (7.47 per cent), followed by people who would choose to borrow a maximum of EUR 2,000 for that purpose (7.4 per cent). Answers within the mentioned survey were preponderantly given by Romanians with a monthly salary of EUR 150 (12.73 per cent), and people making EUR 250 or EUR 500 per month were ranked in the next two places. Places number four and number five were filled by prospective customers with respective income of EUR 300 and EUR 400 (6.36 per cent each).

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