At present, Russian consumers have a window of opportunity to secure car loans on relatively favorable terms. Industry experts told Rossiyskaya Gazeta that in the near future the cost of financing new vehicles is unlikely to drop, and prices for fresh models could rise as lending conditions tighten and demand shifts with market dynamics. This snapshot comes as banks and government programs interact to shape affordability for buyers across the country.
A government initiative offering preferential car loans remains in effect for Russians, with the program originally slated to end on December 1. The Ministry of Industry and Trade extended the scheme through December 20 to allow continued access, though observers warn that extending the program does not guarantee longer-term relief. Alexandra Potapova, vice president of Autofinance at the Otkritie Autotrading segment, cautions buyers not to delay purchases under the assumption that rates will steadily improve in the coming year. She notes that rate trajectories are susceptible to change, and waiting could lead to higher borrowing costs if market conditions shift.
Artem Yazykov, managing director at Sovcombank, shares a similar assessment. He emphasizes that now may be the optimal time to finance a car for several reasons. The first is the sheer number of banks participating in the current program, a finite pool that will shrink as allocated limits are absorbed. The second reason is a common pattern: the end of a state program often triggers a squeeze in consumer choices and price expectations, which can fuel price volatility. In practical terms, this means buyers may face fewer lender options and higher perceived costs as the program nears its expiration.
Industry executives explain that the strong demand for vehicles, paired with a limited supply, can make securing the preferred configuration and color more challenging. When demand outpaces supply, prices tend to rise, and buyers may encounter a tighter match between their vehicle preferences and what is available on dealership lots. This dynamic underscores the value of acting while the program remains active and options remain plentiful.
In late November, dealers requested that the Ministry of Industry and Trade include Renault vehicles in the preferential loan program. While no formal confirmation had been issued at that time, the move could bolster the program’s impact by expanding the catalog of eligible models. Russian dealerships currently hold a volume of Renault vehicles, and the additional support from a continued loan scheme would help expedite their sale and delivery without disrupting the broader financing landscape. Observers note that the policy environment will continue to evolve as fiscal and regulatory considerations intersect with consumer demand, price stability, and manufacturer inventory. Continued monitoring of official announcements is advised for buyers planning a purchase within the credit-enabled market cycle.