Sverdlovsk Region: Number of Cars Bought on Credit Up 21.7%

1 February 2019 (14:37)

UrBC, Yekaterinburg, February 1, 2019. 29,809 automobiles got sold on credit in Sverdlovsk Region last year, which exceeded the figures for one year earlier by 21.7%, the National Credit History Bureau reports.

52,581 cars got sold on Sverdlovsk Region market last year all in all, with the share of the ones bought on credit at 56.7%.

‘In 2018, the car loan market recovered to the state of affairs as of 2014. Even though certain state-subsidized lending programs got discontinued, car loans remain a noticeable supporting factor for the car making industry. Car loans on used automobiles are growing increasingly more popular. It’s also apparent that the creditors are paying ever more attention to risk analysis: a borrower’s credit history is something that gets assessed not only at the loan application stage but also within the duration of the loan period; there’s more demand for scoring reports. Moreover, ever more creditors submit their information to the Bureau’s security asset database and rely on this database to make decisions relating to used car loans. All this improves the quality of car loan administration and fewer overdue payments,’ says the Bureau’s Director-General Alexander Vikulin.

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