The interest rate has not been this low in years. Is the low interest rate reflected in consumer lending behavior? The answer to this is clear: there are 21% more loans taken out in 2016. A low interest rate makes the step to start borrowing smaller.

The consumer also chooses to secure this low interest rate with a personal loan. Loans for a car are also on the rise. That probably also has to do with the fact that we are out of the economic crisis and consumers have taken their hand off the bill when it comes to making larger expenditures.

Increase in personal loan and car financing


The members of the DRS, an association of financing companies, release an annual overview containing all figures for the loans granted from the previous year. Two things stand out in the 2016 figures: more personal loans have been taken out than revolving loans. And the number of financing for a car has increased: an increase of 11%.

More personal loans than revolving loans

personal loans

For years, revolving credit was the most popular form of borrowing. But a turning point has been reached: last year more personal loans were taken out with 53% against 47% of a revolving credit. Not very crazy; the interest rate is at a historically low point. To benefit from this low interest, many people want to fix this interest and that is possible with a personal loan. You will continue to pay this low interest rate throughout the term of your personal loan.

Transfer current loan

Transfer current loan

Consumers who have a current loan, a revolving credit or a personal loan with a high interest rate can transfer it free of charge to a new low-interest loan. Did you have a revolving credit and do you want to fix the low interest rate? Then choose a personal loan now. The shift from revolving credit to personal loan shows that consumers have already started to transfer current loans.

Borrow money for car purchase

Borrow money for car purchase

The number of loans granted to consumers shows an increase in the number of loans for car financing. After the economic crisis, in which consumers kept their hands open to making large expenditures, consumers spend more money. This applies to both own money and borrowed money. Car financing is favorable with this low-interest rate.

Borrowing money is cheaper than buying on installment. It seemed favorable; buy your car now and pay it in installments. But the calculated interest was very high. Often the maximum legally permitted rate. Taking out a loan to buy a car means being able to buy your car directly, just like with an installment purchase, but only at a much lower interest rate.