More than 80% of auto credit in Portugal is granted through financial intermediaries, a study by the Bank of Portugal revealed. This means that the vast majority of consumers who purchase a vehicle using financing do not contract the loan directly at a bank, but rather through car dealers or other credit intermediaries.
The study shows that those who use intermediaries to obtain auto credit tend to contract higher-value loans, on average 16.6 thousand euros. This situation contrasts with those who choose to contract credit directly at a bank, who normally obtain lower amounts.
However, in consumer credit the trend reverses. Consumers who use intermediaries for this type of financing tend to obtain lower amounts than those who negotiate directly with banking institutions. This difference in behavior suggests that the profile and needs of those seeking each type of credit are distinct.
