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Younger generation keener to get loans for cars

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Hungarians prefer buying new cars with petrol engines and hybrid models rather than cars with diesel engines, with the younger generation more open to getting a loan for a purchase, according to OTP Bankʼs research

Every fifth surveyed Hungarian would prefer buying a new, petrol engined car under HUF 5 million, while one-third want to buy an electric or hybrid car. Only 14% prefer used diesel cars.

For financing, 51% would use loans partially or fully. Among the younger generation, the ratio was 60%.

"The research revealed that members of generation Y and Z, born after 1981 are more open to getting loans for car purchases than their older counterparts," says OTP Bankʼs Consumer Loans Division director Ibolya Veres Rajmonné.

"However, during every act of borrowing – just as in case of car purchases – it is important to evaluate every single offer and circumstance to be able to pick the best available solution."

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