In Russia, the average amount of a car loan reached a historic high for 2019. This was reported by RBC with reference to a study by the National Bureau of Credit Histories and the analytical agency Avtostat. According to them, last year, Russian banks issued 947.3 thousand loans for new and used cars. This is happening against the background of a general drop in car sales in the Russian market.
So, the Russians began to take 11.6% more often in loans from banks to buy cars. The total volume of loans for cars increased to 746.45 billion rubles (+ 18.9%). On average, the amount of a car loan amounted to almost 788 thousand rubles.
The study claims that such a growth in car loans this year is not predicted.
According to the AEB forecast, in 2020 the Russian car market will continue to fall. In the next 12 months, sales of new cars are expected to decrease by 2.1% compared to last year – to 1.72 million cars.