Concessional lending programs will resume


31 Dec 2019

In October of this year, it was reported that the state programs “First Car” and “Family Car” had ended in Russia. However, it has now become known that they will be extended

This information was reported by the press service of the Ministry of Industry and Trade of the Russian Federation: “The support programs for preferential car loans” Family Car “and” First Car “will be resumed from January 1, 2020.” The total amount of subsidies for these programs in 2020 is 5 billion rubles, for comparison – in 2019 they spent 9.4 billion rubles on them. As of September 30, 2019, more than 100,000 new cars were sold using these tools. This means that next year this figure will be reduced by almost half.

Under the First Car and Family Car programs, certain categories of borrowers (large families and those who buy a car for the first time) are given 10% discounts on the purchase of a new car of domestic production. For some regions of Russia, even more favorable conditions were offered. For example, at certain intervals, residents of the Far Eastern Federal District could take advantage of a discount of up to 25%.

When writing news, the following information was used:

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