More applying for loans causes lenders to tighten rules
Lenders are tightening their rules as they fear the pandemic will increase household debt.
Despite fears of higher unemployment – more people are applying for car loans, possibly due to fears of using public transport.
The rate of car loan applications is up 36% from pre-virus levels, according to credit provider, Credaris.
Analysts are predicting a major economic slowdown and the Swiss Association of Leasing Companies says customers need to be checked they can handle a loan more carefully, even so, they are expecting a higher number of defaults.