27.08.2026, 09:36
The average term of a car loan in Russia has reached its maximum
Source: OREANDA-NEWS
OREANDA-NEWS In July, the average term of a car loan issued in Russia reached its maximum value since the beginning of 2024 and amounted to 6.05 years. This is reported by TASS with reference to data from the National Bureau of Credit Histories (NBKI).
We are talking about both loans for new cars and used ones, analysts said. In annual terms, the average term of such loans in the domestic market increased by 17.4 percent. The monthly increase was 2 percent, experts said.
Experts noted the highest average term of issued car loans in the Krasnodar and Stavropol territories. In the first region, the indicator was 6.68 years, and in the second — 6.58 years. The Tyumen Region also got into the top 3 (taking into account the data for the Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts) — 6.46 years. Experts recorded the lowest rates in Moscow (5.43 years), the Moscow Region (5.54) and St. Petersburg (5.58).
The growth in the terms of Russian car loans is observed against the background of a noticeable increase in the cost of both new and used cars, high market rates, slowing growth in real incomes of the population and a large debt burden of citizens. In the current reality, market participants note, the short terms of car loans would make the monthly payment unaffordable for many Russians. The current loan conditions, stated Alexey Volkov, head of marketing at NBKI, deter a large number of borrowers with good credit quality.
We are talking about both loans for new cars and used ones, analysts said. In annual terms, the average term of such loans in the domestic market increased by 17.4 percent. The monthly increase was 2 percent, experts said.
Experts noted the highest average term of issued car loans in the Krasnodar and Stavropol territories. In the first region, the indicator was 6.68 years, and in the second — 6.58 years. The Tyumen Region also got into the top 3 (taking into account the data for the Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts) — 6.46 years. Experts recorded the lowest rates in Moscow (5.43 years), the Moscow Region (5.54) and St. Petersburg (5.58).
The growth in the terms of Russian car loans is observed against the background of a noticeable increase in the cost of both new and used cars, high market rates, slowing growth in real incomes of the population and a large debt burden of citizens. In the current reality, market participants note, the short terms of car loans would make the monthly payment unaffordable for many Russians. The current loan conditions, stated Alexey Volkov, head of marketing at NBKI, deter a large number of borrowers with good credit quality.
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