The popularity of the wedding loan is decreasing

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“Until death separates us”. It should last forever, great love. But the belief in everlasting happiness does not seem to be that big. Few Germans are willing to finance their wedding dream with an installment loan and thus also bind themselves financially.

Take out a wedding loan decrease

Take out a wedding loan decrease

For the second time, Best Bank asked the Germans about their wedding dreams and their financial implementation. A total of 1060 people were interviewed. Accordingly, not only does the willingness to take out a wedding loan decrease, but also the expenses decrease. For example, 15 percent of those surveyed would spend a maximum of 1,000 USD on their own wedding; in the previous year, only nine percent had wished for an intimate celebration. After all, 36 percent of those surveyed want to spend 1,000-1,500 USD on food, clothing and carriages; in 2012, two percent more were willing to pay so much for the wedding.

Even 5,000-10,000 USD would be spent by 18 percent of the survey participants; last year the willingness to pay for a big party was even higher, 24 percent wanted an expensive wedding. Five percent said they wanted to spend between 10,000-25,000 USD if the right partner was found for life. The classic wedding symbols have had their day, festive bride’s car and the wedding night in the luxury hotel land in the back seats. The wedding dinner is more important: 62 percent of those surveyed rated this item as the most important, the wedding cake came in second place in the most important editions, and the honeymoon reached third place in the wedding budget.

Young wedding couples are more open to financing

Young wedding couples are more open to financing

The dream wedding quickly costs a few thousand USD: floral decorations, celebration, dress and food for the guests. If you have no savings or financially strong parents, you have to save many years until the dream can be realized. However, only a few think of the fast alternative wedding loan. Washing machine, dream trip or new car – while the installment loan is taken up for many purchases as a matter of course, your own wedding should not be made possible with the help of financing. The willingness to have the perfect wedding paid for by the bank even decreases. Only 17 percent of those surveyed could imagine realizing the celebration with an installment loan; in the previous year, 28 percent would have been willing to do so.

The young lovers in particular are open to funding ; one in three under 25 would choose the wedding loan instead of having to do without a celebration altogether. Young couples often do not yet have great savings, love and expectations for the future together seem to be more pronounced than with older wedding people.

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