In Q3 2023, Irish car loans rose 40% to €189 million, marking the highest lending level since 2020, with electric vehicle loans comprising 20%.

There has been a significant increase in personal loans, particularly for car purchases, with the value of car loans increasing by 39.6% year-on-year. This led to a new high in personal loan drawdowns, reaching €552 million in Q3 2023. Home improvement loans also saw an increase, with the value rising by 23.9% to €174 million. The number of car loans rose by 25.5% to 14,994, with one in five loans used for electric vehicles.

February 09, 2024
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