After a long period of extremely tight credit policy, the financing for car purchase, IX and professional, new and used – returns dynamically, at growth rates that we had not seen since the crisis.
The numbers speak for themselves. According to data from the Greek Banking Association, new loan disbursements increased in 2024 by 18.9% compared to 2023. In 2025 this trend was further accelerated: only in June 2025, 173 million new loans were disbursed, the highest monthly amount since December 2013. In the first half of that year, new disbursements of consumer credit reached 908m euros, even surpassing housing loans.
The car is at the heart of this explosion. Today more than 55% of consumer loans concern vehicle purchase financing, a rate that increases year by year and highlights the strategic position of the industry in the design of Greek banks.
Why do banks say «Yes» easier
To understand this turn, one must see the car through the eyes of a banker. It's not a service, it's not an intangible commodity. It is a real commercial asset, which acts essentially as a guarantee in the hands of the bank until full repayment. When the buyer participates in advance —usually from 10% and above— the risk decreases even more.
By 2019 only 30% of applications for a car loan were approved, the lowest rate in the EU. Today the picture has changed. Market executives report an increase in reliability that in several cases exceeds 60% compared to previous years, especially for new cars and leasing programs. There is now a clear turn, with banks reviewing the award criteria taking into account the current financial situation of borrowers and not old negative entries, thus opening the way to a much wider proportion of consumers.
The interest environment also plays an important role. The average rate of consumer loans in Greece was 10.19% in June 2025, above the Eurozone average of 7.40%. For banks this means that car loans yield significant interest revenue, while at the same time opening the way for cross-selling to insurance products and other services.
Leasing gains ground — and changing the landscape
If the car loan returns, the leasing has already radically changed the market structure. Over 6 out of 10 new car classifications now concern corporate sales through long-term lease, while this share continues to grow as private individuals' purchasing power remains pressured in front of the high prices of new models. Increased demand derives mainly from leaching, while many of the retail sales of free professionals, become hateling due to favourable taxation.
Europe's oldest fleet: the structural argument
Behind all of this lies a crucial reality that banks, leisure companies and delegations know very well. The average age of cars in Greece remains among the highest in Europe, surpassing 18 years, with an important part lacking modern security systems and showing fuel consumption that resembles another era. For comparison, the average age of cars in the European Union is at 12 years, that is, almost half the Greek.
This chaotic difference creates a huge forced demand tank. Thousands of car owners are every year in front of vehicles that have become unrepaired, uninsured or simply unable to pass KTEO — And the only solution is replacement. When the prices of new cars have reached historically high levels, this replacement becomes almost impossible without funding or leasing.
What is already clear is that banks are not waiting. They return aggressively to retail faith, open award criteria, digitize processes and bet on the car as one of the largest growth engines of the next decade. For the Greek consumer, this translates into something very simple: today the new car is clearly acquired easier since 2019.
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