The average size of car loans has decreased due to a shift towards smaller and cheaper cars and because of higher down payment requirements, reveals an article published in the October issue of Lebanon Opportunities magazine.
Car loans started to decline after reaching a peak in 2011, and they stood at $1.2 billion in April. Car loans account for 6.7 percent of retail banking loans.
Besides the economic slowdown, the main direct factors affecting car loans are the shift to purchas...
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