In Russia, the number of micro-loans being taken out for car repairs and spare parts for cars is growing, analysts from the online financial platform found web banker. During the investigation, they analyzed the targets of more than 100,000 loans made in Russia in September and October 2022.
The share of loans for the purchase of spare parts and payment for the work of service masters reached an all-time high of 12.9% (from 7.7% a year ago). At the beginning of the year, only 9% of microloans were taken out for repairs and spare parts, and in the summer – 5.4%.
According to analysts web banker, a strong increase is related to the winter preparation of cars. In addition, in Russia they often buy used cars that need to be repaired. At the same time, repair costs have risen, causing motorists to borrow money.
Also in September-October this year, the share of loans for urgent contingencies increased significantly – to 15% from 9.4% in June-August. Loans for major purchases (clothing, household appliances, appliances and electronics, furniture, etc.) and for medical treatments also showed a positive evolution. They rose to 11.7% and 6.6% respectively, from 9.3% and 4.6% in the summer months. The share of loans to refinance debt also increased, from 1.3% to 2%.
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Source: Z R
