Sverdlovsk Region: Number of Car Loans Up 7%

1 April 2019 (09:26)

UrBC, Yekaterinburg, April 1, 2019. Sverdlovsk Region’s banks issued 3,800 automobile loans in January-February 2019, which exceeded the figures for one year earlier by 7%, the National Credit History Bureau reports.

In Russia on the whole, the number of newly issued car loans came to 108,100 (up 8.2% on January-February 2018).

‘Even though the state-run subsidy programs are no longer in place, more cars were bought on credit in early 2019 than in early 2018. Additionally, the increase in sales got boosted by improved lending terms (thanks to the car makers’ support, among other things). This means an automobile loan remains one of the most convenient ways to buy a car. The growing used car market is also something worth mentioning: quite a few banks are offering used car loans these days,’ says the Bureau’s Director-General Alexander Vikulin.

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