Auto loan activity in Russia saw a sharp rise in May, climbing by six tenths compared with April and doubling from March, according to Kommersant. Yet, loans for new cars represented a smaller slice of the mix, accounting for only 8.5 percent of May issuances. For readers in North America, this shift mirrors a broader pattern where buyers prioritize vehicle payments differently as they adjust to price and financing changes, while lenders recalibrate acceptable loan sizes in the wake of market volatility.
Loan sizes also shifted noticeably. Based on data from Otkritie Avto, the average auto loan in April stood around 2 million rubles, dipping to about 1.9 million rubles in May. For used cars, the average fell modestly from 910 thousand to 905 thousand rubles. In the first week of June, the typical new car loan sat at roughly 1.83 million rubles, while used-car financing hovered near 887 thousand rubles. These movements suggest borrowers in May favored more affordable new-vehicle options or shorter terms, while used-car financing remained a steadier, lower-cost alternative.
Earlier reports highlighted that Hyundai models led the field for new-car financing in the first quarter, signaling strong brand appeal among Canadian and American buyers who compare credit terms across markets. Among used cars, Lada held a notable share, reflecting continued demand for reliable, budget-friendly options in the region. The evolving mix in Russia parallels how North American buyers weigh loan terms against sticker prices, interest rates, and monthly payments as they navigate ongoing rate adjustments and shifting loan policies.