Anyone who chooses to take out a loan usually has good reasons for doing so. Either a big purchase or you have to bridge a financial bottleneck. Sometimes you just want to benefit from better terms after a loan comparison and you owe existing debt. But even for Christmas, weddings and travel, some people use credit. However, these customers are clearly a minority in the DACH countries. So, what do German, Swiss and Austrian bank customers borrow most frequently?
Loans for car purchase lead in Germany and Switzerland
German and Swiss citizens, according to representative polls, often opt for a loan to finance their car or a motorcycle. In Switzerland, 44 percent of borrowers use this option. In Germany, after all, every third. In Austria, the purchase of a car is only the fifth most common reason for bank customers to take out a loan.
Real estate financing and renovation loans ranked # 1 in Austria
In Austria, 64 percent of respondents say that they use loans primarily to finance a home. Thus, in Austria, the purchase of a house or a condo leads to the hit list of uses for borrowing. In Germany, real estate financing still comes in second place. Here, 25 percent of the borrowers have opted for a house construction or purchase on pump. About the same number of Swiss claim to use loans at least for house renovation or conversion.
Germans like loans for the interior
Not only for the appearance of a home, but also for the inner life, the Germans like to take back on loan offers. Above all, of course, with major purchases such as new kitchens, 17 percent of German borrowers opt to borrow money from the bank. In Switzerland, the purchase of new furniture and interiors is also ranked third. There, 26 percent take out a loan for this purpose. In Austria, loans for one’s own wedding take third place.
Other reasons for taking out loans
Other common reasons for borrowing are cited in all three countries as a means of rescheduling and bridging financial bottlenecks . Shortly followed by pure consumer credit to purchase travel, consumer electronics and similar products.
In terms of credits, Swiss citizens are leading the list overall. Almost 85 percent of the population have therefore ever before a loan, a loan or financing availed. After all, around 50 percent of Germans have already taken out a loan in Germany and Austria.