Concessional Car Loan Programs: The End Is Near


eleven Feb 2020

Funds for the implementation of state programs for preferential car loans “First Car” and “Family Car” may end by the end of March

In Russia, in March 2020, the first car and family car preferential car loan programs may end. This was reported by Vedomosti with reference to the managers of two dealer companies. According to them, by this time funds for the implementation of these state programs will run out. There is no official confirmation of this information yet.

The total budget for preferential car loans for the current year amounted to 5 billion rubles. According to the Ministry of Industry and Trade, such an amount will stimulate the sale of about 50 thousand cars. Recall that the Russian government extended from January 1, 2020, preferential car loans on old terms. As before, cars worth no more than 1 million rubles are available for the shares of “First Car” and “Family Car”

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