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Car loans in demand

09 May 2013 4:20PM
Consumer credit demand may be picking up, based on data compiled by consumer credit bureau Veda.The firm's credit demand index for the March 2013 quarter increased by 4.7 per cent compared with the same quarter last year.Angus Luffman, general manager of consumer risk at Veda, said in a media release that this was the strongest rate of annual growth since the global financial crisis.The index is based on queries of the Veda database by lenders assessing applications for loans. Home loan enquiries increased by 1.8 per cent in the March quarter. Veda said it had reported four consecutive months of increased mortgage application demand.Personal loan applications - mainly for car loans - increased 10.3 per cent in the quarter.Applications for credit cards, however, fell for the sixth quarter in a row.

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