Banks offered preferential loans for electric vehicles

Large banks have started the loans providing for electric vehicles on special terms. The direction is interesting for credit institutions: a loan for an electric car is designed for premium customers, which makes it almost risk-free for the bank even at a low interest rate.

The bankers are also stimulated by the state support program for electric transport. At the same time, banks may face difficulties in selling the collateralized electric vehicles, since the demand for them is still small. Interviewed bankers and experts note that loans for electric vehicles are primarily aimed at the future. According to Stanislav Sukhov, the project leader of Frank RG, the segment now has less than 0.5% of the car lending market.

“To make the direction promising, it is necessary not only to create special offers for loans, but other components are also needed: customer interest in electric cars, an increase in production and distribution and infrastructure,” emphasizes Kirill Grigoriev, the head of the Tinkoff car lending department. For several years, the electric vehicle market in Russia - both primary and secondary - has been showing the growth. So, in 2020, in general, Russians bought 5274 used and 687 new electric cars, which is 60% and 95%, respectively, higher than a year ago.

And in January - May 2021, residents of our country bought 2,655 used and 650 new electric vehicles. This is 81% and 7 times higher than for five months of last year, according to the data of the agency "AUTOSTAT".