Car loan rates in Russia have risen sharply to 21-34.8%.
This was reported by Petr Shcherbachenko, associate professor at the Financial University under the Government of the Russian Federation.
He explained in a conversation with Gazeta.Ru that the average rate currently stands at 26.39%.
In his opinion, under such conditions, Russians should not rush to buy a car.
Shcherbachenko emphasized that in recent years many cars have been purchased on credit.
In response to the question of whether to take out a loan at a high interest rate or wait, he suggests waiting.
Since the beginning of the year, car prices in Russia have increased due to an increase in the recycling fee and exchange rate fluctuations.
The average rate on a car loan against the backdrop of a high key rate is 26.39%. It fluctuates in the range from 21 to 34.8%.
In this regard, the economist noted that fewer and fewer Russians are willing to take out a loan at such rates.
He also recalled that in 2024, auto parts increased in price by an average of 25%, and European ones doubled.
Gasoline prices have nearly doubled over the past decade.
Shcherbachenko advises Russians not to rush to buy a car on credit, given the high interest rate.
