In the Russian Federation, by the beginning of 2024, rates on market-based vehicle loan programs may rise to 19-23%. This prediction was shared in an interview by Alexander Shornikov, director of Zenit Bank’s retail risk department. RIA News.
He believes that “vehicle loan interest rates may increase by up to 1 percentage point in the first quarter of 2024.”
According to the department director, the rate increase will occur against the background of the expected increase in the key rate of the Bank of Russia; Specific values will vary depending on the specific market segment and credit institutions’ conditions. He added that a possible increase in the interest rate carries the danger of causing product prices to rise and the market to cool temporarily.
“The cost of the loan under unsubsidized car loan programs is expected to be between 19-23%,” Shornikov said.
The bank employee sees Chinese and domestic cars as the most common car loan subject.
Before that, Sergei Litvinenko, head of the Alfa-Bank car loans development directorate declarationIt is predicted that the market share of electric vehicles may double in 2024.
Previously at Roskachestvo clarified It is the most profitable type of loan to buy a car.