THE ISSUANCE OF CAR LOANS INCREASED BY 97.6%

In January-August of this year, the issuance of car loans in Russia increased by 97.6% compared to the same period last year and reached 1.6 trillion rubles. This was announced by the National Bureau of Credit Histories.

In total, 1.1 million car loans were issued to Russians in January-August 2024. This figure is 87.5% more than last year's figures for the same period.

According to the press service at the National Bureau of Credit Histories of TASS, most of these loans were issued in Moscow (more than 121 billion rubles), the Moscow region (over 100 billion rubles) and St. Petersburg (more than 76 billion rubles Tatarstan and the Rostov region were also among the leaders.

A significant increase in the volume and pace of issuing car loans is associated with the expectation of their rise in price due to rising rates, the National Bureau of Credit Histories explains. Another of the most likely reasons is the indexation of the recycling fee from October 1.