How big is the South Korea Auto Loan Market?

The South Korea Auto Loan Market size is expected to reach USD 34.17 billion in 2024 and grow at a CAGR of 10.23% to reach USD 55.61 billion by 2029. Read More

What is the current South Korea Auto Loan Market size?

In 2024, the South Korea Auto Loan Market size is expected to reach USD 34.17 billion. Read More

Who are the key players in South Korea Auto Loan Market?

Hyundai Capital, Mercedes Benz Group, Hana Capital, Woori Bank and Bank of America are the major companies operating in the South Korea Auto Loan Market. Read More

What years does this South Korea Auto Loan Market cover, and what was the market size in 2023?

In 2023, the South Korea Auto Loan Market size was estimated at USD 30.67 billion. The report covers the South Korea Auto Loan Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Auto Loan Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

South Korea Auto Loan Market Size & Share Analysis - Industry Research Report

South Korea Auto Loan Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

South Korea's Auto Loan Market is Segmented by Product (passenger Vehicles, Commercial Vehicles), Ownership (new Vehicles, Used Vehicles), Provider Type (banks, NBFCs (non-Banking Financial Companies), Credit Unions, and Other Provider Types (fintech Companies)), and Tenure (less Than Three Years, 3-5 Years, and More Than Years). The Report Offers Market Size and Forecasts for the South Korean Auto Loan Market in Value (USD) for all the Above Segments.

South Korea Auto Loan Industry Overview

The South Korean auto loan market is fragmented, with a large number of players existing in the market. Rising technological innovation in banking and financial services is leading automobile buyers to apply for loans from their smart devices with a varied range of products with different interest rates and maturity. The Quality of Customer Service and support offered by lenders is a significant factor in the competitive landscape, as it can influence customers' choices. Among some of the existing players in the South Korean automobile loan market are Hyundai Capital, Mercedes Benz Group, Hana Capital, Woori Bank, and Bank of America.