Bashkortostan residents began buy cars on credit increasingly

UFA, 20 July 2016. /Bashinform News Agency, Arina Rakhimkulova/. In the second quarter of the year, the number of car loans increased significantly in Bashkortostan. More than 6000 vehicles have been purchased in the republic with the borrowed funds.

According to the National Bureau of Credit Histories and the «Autostat» agency, for the second quarter of 2016 10,524 cars were sold in the region, of which – 6017 on credit. With these data the region entered the top 10 entities with the highest volumes of sales market. In the first quarter 49.7 percent of cars were purchased with borrowed funds, now this figure reached 57.2 percent.

"Against a reduction in the car sales rate a share of "credit" cars continues to grow, approaching the record values. Despite the unfavourable market conditions, banks continued to actively grant car loans. As a result, the pace of issuing car loans in comparison to previous years falls slightly, but the volume of car loans even grow in monetary terms. The state program of subsidizing interest rates on car loans still plays an important role in this process. However, inflation and reduced real incomes continue to affect the market", the General Director of the National Bureau of Credit Histories Alexander Vikulin said.