There were named used cars, which are most often bought on credit

According to the data of agency "AUTOSTAT", for two months of 2023, the number of loans issued for used cars increased by 32%. On the eve of the 5th annual auto business forum "FinAuto - 2023. Financial instruments of the car market", which the agency "AUTOSTAT" will hold on April 20th in Moscow, banks told which used cars are most in demand among borrowers. Most often, during the reporting period, Otkritie Auto customers purchased used cars of Kia Rio, Hyundai Solaris, LADA Granta, Kia Sportage, Volkswagen Polo models.

In Sovcombank, a high demand for car loans is observed among customers who buy cars of Korean brands and LADA brands. “Among the used cars of our customers, the most popular are the same LADA, Hyundai, Kia, and Volkswagen. We see that Renault brand now takes the place of Nissan,” said Vitaly Kostyukevich, Director of the Retail Products Department at Absolut Bank. In turn, the executive director of analytical agency "AUTOSTAT" Sergey Udalov predicts that the positive dynamics of issuing loans for used cars will continue - both in quantitative terms and in monetary terms.

In the current economic conditions, the need of citizens for car loans is growing, while in compare with a consumer loan, the interest rate on a car loan will be noticeably lower, and it will be easier to get approval for it, given that this is a secured type of lending.