Interest rates are high, the choice of cars is indecently small and the results of 2022 are not encouraging: the volume of loan debt increased by 16%. It would seem that citizens should not make major purchases at all under such circumstances, but the news stubbornly suggests otherwise. Only recently the April record for car loans was discussed, and today experts are already predicting a new record – the growth of the car loan portfolio in 2023 by 14-16% to 1.4 trillion. ruble.

Interestingly, earlier, last month, they predicted other, more modest results: the issuance of 935,500 car loans for a total of 1.1 trillion. “wooden”. But the industry is recovering faster than expected, not only thanks to pent-up demand and preferential government programs, but also because Russians have adapted to an uncertain environment and a rise in the price of everything.

And since the number of loans will grow, the number of car loan arrears will inevitably increase, which, by the way, already reached 110,100 at the end of April. Consequently, other car owners who have not calculated their strength will have to give the “swallow” to the bank so that it can be put up for auction can be sold. And what’s the beauty of banking? In the opportunity to buy a car at a very reasonable discount. Although, of course, in this story not everything is so simple …

Interest rates are high, the choice of cars is indecently small and the results of 2022 are not encouraging: the volume of loan debt increased by 16%. It would seem that citizens should not make major purchases at all under such circumstances, but the news stubbornly suggests otherwise. Only recently the April record for car loans was discussed, and today experts are already predicting a new record – the growth of the car loan portfolio in 2023 by 14-16% to 1.4 trillion. ruble.

Interestingly, earlier, last month, they predicted other, more modest results: the issuance of 935,500 car loans for a total of 1.1 trillion. “wooden”. But the industry is recovering faster than expected, not only thanks to pent-up demand and preferential government programs, but also because Russians have adapted to an uncertain environment and a rise in the price of everything.

And since the number of loans will grow, the number of car loan arrears will inevitably increase, which, by the way, already reached 110,100 at the end of April. Consequently, other car owners who have not calculated their strength will have to give the “swallow” to the bank so that it can be put up for auction can be sold. And what’s the beauty of banking? In the opportunity to buy a car at a very reasonable discount. Although, of course, in this story not everything is so simple …