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Reasons why households take out payday loans in the United Kingdom 2012
Reasons why households take out payday loans in the United Kingdom 2012
Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012
by Statista Research Department,
last edited
Jun 20, 2013
This statistic shows the main reasons UK households have for taking out a payday loan over other types of loans in Great Britain in 2012. At 52 percent of respondents, the most common reason cited was that it was the only kind of credit they could get. The speed of obtaining the loan was a main reason for 35 percent.
Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012
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| Share of respondents | |
|---|---|
| Only kind of credit I can get | 52% |
| Speed of obtaining loan | 35% |
| Cheaper than borrowing from bank | 25% |
| Used before/familiar with it | 21% |
| Conenience/customer service | 16% |
| Easier than getting loan from bank | 5% |
| Recommended by someone else | 3% |
| Flexibility of payments | 3% |
| Prefer not to borrow from institutions | 2% |
| Other reason | 1% |
| No answer | 2% |
| Share of respondents | |
|---|---|
| Only kind of credit I can get | 52% |
| Speed of obtaining loan | 35% |
| Cheaper than borrowing from bank | 25% |
| Used before/familiar with it | 21% |
| Conenience/customer service | 16% |
| Easier than getting loan from bank | 5% |
| Recommended by someone else | 3% |
| Flexibility of payments | 3% |
| Prefer not to borrow from institutions | 2% |
| Other reason | 1% |
| No answer | 2% |
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by Statista Research Department,
last edited
Jun 20, 2013
This statistic shows the main reasons UK households have for taking out a payday loan over other types of loans in Great Britain in 2012. At 52 percent of respondents, the most common reason cited was that it was the only kind of credit they could get. The speed of obtaining the loan was a main reason for 35 percent.
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- Release date
- June 2013
- Region
- United Kingdom (Great Britain)
- Survey time period
- 2012
- Number of respondents
- 101 respondents
- Age group
- 18 years and older
- Method of interview
- Online survey
Source
- Show sources information
- Show publisher information
- Release date
- June 2013
More information
- Region
- United Kingdom (Great Britain)
- Survey time period
- 2012
- Number of respondents
- 101 respondents
- Age group
- 18 years and older
- Method of interview
- Online survey
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- Reasons for taking out a payday loan in Great Britain 2012
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- Delinquency rates of U.S. business loans at insured commercial banks 2000-2017
- Parents' attitudes toward payday loan advertising effects on kids Great Britain 2014
- Share real estate loans to total loans Netherlands 2005-2015
- Ratio loans / bank deposits Spain 2010-2015
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Further related statistics
- Reasons for taking out a payday loan in Great Britain 2012
- Understanding payday loan costs and charges in Great Britain 2012
- Adults with a payday loan United Kingdom (UK) 2015, by family financial status
- UK survey: Understanding of home-collected loan charges in the United Kingdom 2012
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- High-cost credit: Consequences of using payday loans in Great Britain 2012
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- Reasons for and consequences of taking out a payday loan in Great Britain 2013
- Outstanding credit as share of GDP in Vietnam 2012-2016
- Delinquency rates of U.S. business loans at insured commercial banks 2000-2017
- Parents' attitudes toward payday loan advertising effects on kids Great Britain 2014
- Share real estate loans to total loans Netherlands 2005-2015
- Ratio loans / bank deposits Spain 2010-2015
- Value of new loans granted in Switzerland from 2017-2019
- Age of parents who have taken out payday loans in Great Britain 2014
- Quarterly share real estate loans to total loans Netherlands 2014-2016
- OneSavings Bank's total loans and advances in the UK 2013-2018
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