As banks raise the bar for lending, demand is growing for searches and use of car-backed loan products.

Fintech company Finda said on Thursday that both the share of car-backed loan credit-limit checks and the loan volume based on completed contracts are rising on the Finda app.

Finda first listed bank car-backed loan products in 2020 and has since expanded partnerships to include capital companies and savings banks. Finda users can now compare and apply for 28 car-backed loan products from 38 financial institutions in one place. It has recently strengthened its partnership lineup by working with Jeonbuk Bank, which offers the JB Car-Backed Loan with a limit of up to 200 million won, and Woori Financial Capital with its WON Car Auto Secured Loan, among others.

Finda said that as of December 2025, car-backed loan checks accounted for 26.23 percent of all approved credit-limit inquiries on the Finda app.

That means 1 out of 4 users who checked approved credit limits looked at car-backed loan products. Approved credit-limit inquiries refer to checks on the Finda app that provide actual available loan limits and interest-rate terms after a financial company review. In January 2026, the number of approved credit-limit checks for car-backed loans hit a monthly record.

In the second half of last year, the share of car-backed loans rose for 4 straight months. It steadily expanded to 22.19 percent in September 2025, 24.32 percent in October, 25.72 percent in November and 26.23 percent in December. Over the same period, the number of approved credit-limit checks for car-backed loans also rose by nearly 100,000 cases.

Growth was also clear based on completed contracts, a practical usage indicator. The total contracted amount for car-backed loans generally expanded after October 2025, and the average monthly contracted volume from October to December rose about 27 percent from the January to September monthly average. The number of customers completing contracts also continued to increase after October.

As collaboration with financial companies expanded, choices also widened. In January 2026, the number of partner products and financial companies based on completed contracts was 35 and 25, respectively, up 105.9 percent and 108.3 percent from a year earlier. The total contracted amount for car-backed loans that month also rose 25.2 percent from a year earlier. As of December 2025, the number of partner products and financial companies was also up 93.8 percent and 91.7 percent, respectively, from a year earlier.

Finda CEO Hye-min Lee (이혜민) said customers appear to be choosing car-backed loans as a reasonable alternative as credit loan limits have been reduced. "Finda will continue to provide loan products that are more optimized for users in line with the changing financial environment," she said.