This year the market of car loans is working with the new conditions of state — she became highly targeted. But in addition government towards the drivers ready to go and banks that can offer its programs.
Growth factors
According to the National Bureau of credit histories, for 10 months of 2017, the total amount of disbursed loans amounted to 281,3 billion RUB Over the same period, 2016 were issued almost 40% less loans. The number of cars sold last year, according to AUTOSTAT, exceeded the same indicator of previous year by more than 16%. The share of credit cars in total amount increased to 49%, while in 2016 amounted to 44%. At the beginning of the year, the average size of auto loans in Russia increased by about 10% to 733 thousand RUB As explained by analysts, the demand for vehicles has grown due to affordable interest rates on loans, as well as active state support.
Another factor stimulating demand, — the policy of the Central Bank to lower the key rate. In 2017, rates on car loans for a period of more than a year decreased from 13.25% to 12.04%, and for a period of less than a year — from 11.43% to 10.10%.
Experts believe that in 2018 the rates in car loans will decrease by 1-1,5%. Subject to stop the falling real incomes of Russians, and also the continuation of the state programs of preferential lending, the demand for cars will increase, which will lead to further growth of volumes of crediting in Russia.
“The first two months of 2018 showed the growth of the credit market by 27% compared to the same period last year. But we expect a slowdown in growth in the coming months and join the experts that predict market growth for the year at 5-10%,” — said the Director of Department of autocrediting of Rusfinans of Bank Natalya Rusova. According to her, after the abolition of the basic state program of subsidizing interest rates ended last year, the drivers of the market should become a joint financial program for automakers and banks.
Loans for the elite
However, for some borrowers, the state retained preferences. So, today to state benefit when buying cars on credit it is possible only in the framework of running in the 2017 special government programs designed for beginners and parents with many children. The loan will common, and the benefit is that the participant will receive a discount on the car of domestic Assembly in the amount of 10% — this part of the amount the dealership pays the Bank, which the state will later reimburse.
To benefit citizens, not previously owned a private car (“First car”), or those who have two or more minor children (the”Family car”). “The cost of The car should not exceed 1 450 000 rbl., car loan on concessional terms is available only on cars assembled in Russia. These programs allow you to receive a 10% discount when buying a car on loan program with the state support”, — said the first Deputy Chairman of the Board Loko-Bank Irina Grigorieva.
There are other conditions of registration concessional loan agreement: the car must be passenger cars, new and manufactured not earlier than 2017. The maximum rate on the loan legislators have consolidated at the level of 17% per annum. Within the Ministry of industry and trade price limits fit in the small budget segment — “AVTOVAZ”, Renault, Nissan, Datsun, KIA, Hyundai.
To meet client
In addition to the state programs popular joint credit programs of banks and automakers that offer customers loans on favorable terms with lower interest rates or nice gifts, such as CASCO.
Experts point out that market participants in the future will increasingly adapt to run special offers, promote a batch products involving selection of insurance and services. “The current trend is the simplification of schemes of crediting. Market leaders rebuilt the entire product line on the format of the automotive designer. The client can choose the option on the loan — similar to how it selects the model of car and accessories”, — told in a press-service VTB.
Among the trends of the loan market to 2018 you can also select several innovations. For example, some banks began to appear programs that allow you to buy the car on credit without insurance. Due to this, experienced drivers with a high safety factor, can buy a car, save money.
Another trend is the connection to the existing loan of such a financial mechanism as refinance — open another credit to cover the debt of another loan.
In addition, market participants noted great potential in terms of the car loan market pre-owned. There are Bank programs for those who are planning to buy used cars. Some banks offer products on the following terms: the interest rate on the loan (100 thousand — 1 million virtually any) to buy a car with a mileage of more than 1 thousand km for a period from 1 year to 5 years is calculated individually, from 19 to 28% per annum. The registration of the hull insurance policy is not required.
In General, analysts predict the active involvement of citizens in the sphere of car loans in 2018. And not only at the expense of public participation, but at the expense of banks that plan to reduce interest rates, reduce the size of the initial contributions or to increase the periods of crediting.
