CrimeaPRESS reports:
The United Credit Bureau (UCB) summed up the results of car lending for October 2023: the volume of new car loans issued increased year-on-year by 119%. In October of this year, car loans were issued for 94.09 billion rub., against 42.93 billion rubles. a year earlier. The average bill for a car loan increased over the year by 48%: from 1.05 to 1.55 million rubles.
In terms of car loan issuance volumes, the top five leading regions include: Moscow – car loan volumes in the capital amounted to 10.23 billion rubles, Moscow region. – 8.35 billion rubles, St. Petersburg – 6.63 billion rubles, Krasnodar Territory – 4.62 billion rubles. and Tatarstan – 4.05 billion rubles.
The highest growth rates in car lending volumes (out of the TOP-30 regions in terms of issuance volumes) are observed in the Belgorod region. (+211%: from 307.31 to 956.92 million rubles), Tula region. (+174%: from 426.09 million to 1.17 billion rubles) and the Altai Territory (+166%: from 325.73 to 865.91 million rubles).
An increase in the average bill for a car loan was noted in all regions from the TOP-30. The highest growth rates were recorded in the Rostov region. (+157%: from 992 thousand to 2.55 million rubles), Samara region. (+74%: from 826 thousand to 1.44 million rubles) and Udmurtia (+64%: from 798 thousand to 1.31 million rubles). The largest car loans were taken out in October by residents of the Rostov region. — on average 2.55 million rubles, Moscow — 2.08 million rubles, Moscow region. – 1.86 million rubles, St. Petersburg – 1.84 million rubles. and Leningrad region. – 1.69 million rubles. The most modest average bill among the TOP 30 regions was recorded among residents of the Vologda region. – 1.30 million rubles.
Nikolay Filippov, Director of Risk Methodology and Analytics Date of the United Credit Bureau:
Obviously, the increase in the volume of car loans and the growth of the average bill were caused by pent-up demand and higher prices for cars due to import restrictions. Demand remains unsatisfied, so it is difficult to predict a rapid cooling of this loan segment, despite repeated increases in the key rate in the second half of 2023. If you are planning to purchase a car on credit, it is better to find out your credit rating in advance, for example, on the Credistory website (Credistory.ru) OKB, because different banks may have different conditions and different interest rates on loans.
UNITED CREDIT BUREAU (OKB)
The United Credit Bureau was created in 2004 and is the largest bureau in Russia in terms of database volume. The bureau pays great attention not only to the number of credit histories in the database, but also to the quality of the data provided. OKB’s line of services provides all stages of the credit pipeline — from receiving credit reports and scoring, to comprehensive solutions for portfolio management and fraud prevention. OKB’s clients include more than 600 credit institutions, microfinance organizations, credit unions, insurance companies and telecom operators.
OKB is also developing the online platform Credistory for everyone who wants to independently manage their financial reputation. Credit history services help you understand your credit history, find the right financial solution, and receive intelligent assistance in selecting financial services.
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