{
  "id": 272005,
  "title": "EVs, weddings and renovations push loans above €3 billion",
  "url": "https://urgent.news/2026/08/07/evs-weddings-and-renovations-push-loans-above-3-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T11:18:04.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/business/2026/0807/1586938-bpfi-quarterly-loan-draw-down-figures/"
  },
  "original_language": "en",
  "account": "For the first time, personal loans for purposes such as weddings, home renovations, and electric cars exceeded €3 billion across a 12-month period, according to new figures from Banking and Payments Federation Ireland (BPFI). A total of 281,814 personal loans were taken out in the 12 months leading up to March 2026, representing the highest volume since data collection began. In the first quarter of 2026 alone, 69,604 personal loan drawdowns valued at €788 million were made, marking a 14.5% increase in volume and a 15.3% increase in value compared to the previous year. The average personal loan value rose by €77 year-on-year to €11,316.\n\nCar finance loans saw a 14.4% increase year-on-year, totaling 22,366 loans with a value increase of 14.1% to €296 million. The average car loan value dropped slightly from €13,267 to €13,233. In the 12 months ending March 2026, there were 81,791 car or auto finance loans valued at nearly €1.1 billion.\n\nHome improvement loans experienced a 12.8% increase year-on-year, with 17,334 loans drawn down in the first quarter of 2026. These loans were valued at €229 million, a 15.4% rise compared to the same period the previous year. The average home improvement loan value increased from €12,886 to €13,186.\n\nOther types of loans, accounting for 29,904 loans drawn down in the first quarter alone, saw a 15.7% increase in volume year-on-year and a 16.7% increase in value to €263 million. The average value for these loans rose from €8,725 to €8,799. Ali Ugur, BPFI's Chief Economist, noted that green personal loans, including electric cars and home improvements, experienced the largest growth, increasing by 22.9% in both volume and value year-on-year to reach €42.7 million in value. He attributed this growth to broader trends in the green economy and consumer confidence in major life purchases.",
  "summary": "The value of personal loans, for the likes of weddings, home renovations and electric cars, exceeded €3 billion over a 12-month period for the first time.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}