The average bill for a car loan in October set a new record – Kommersant
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The average bill for a car loan in Russia in October increased to 1.56 million rubles, updating another historical record. Compared to September, the increase was 4.5%. This follows from research National Bureau of Credit History (NBKI).
The average loan amount for a car purchase has been growing almost continuously since February of this year. The largest average size of car loans is in Moscow (2.04 million), Moscow region (1.85 million), Khanty-Mansi Autonomous Okrug (1.68 million), St. Petersburg (1.83 million) and Krasnodar Territory (1. 69 million).
The size of the average loan increased most significantly in October in the Rostov region (+13.6%), Altai region (+9.9%), Nizhny Novgorod region (+9.4%), Krasnoyarsk region (+6.9%) and Sverdlovsk region region (+6.8%). The average loan size for cars in Moscow and the Belgorod region decreased by 0.4% and 0.5%, respectively.
Experts from the National Bureau of Credit Histories note that the growth in the average size of a car loan is also due to the growth in sales of cars from “friendly” countries, for example from China. In addition, this is also influenced by the fact that car loans provide borrowers with “good credit quality” whose personal credit rating value is at a high level.
Read more about the situation in the car loan market in the material “Car lending returns during the pandemic”.
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