Car loans issuance increased by almost 30% in Bashkiria

According to the NBCH, in Bashkiria, the issuance of car loans in the first quarter increased by almost 30% compared to January-March 2022. In just three months since the beginning of the year, residents of the republic received 6,912 thousand loans to purchase new and used cars. The average size of a car loan amounted to 1.137 million rubles, 2.3% more than in February (1.095 million rubles).

The picture is similar across the country. In Q1 2023, the number of car loans issued amounted to 167.9 thousand (+16.8%).

“A revival in the car loan market characterized the beginning of the year. In many respects, such dynamics were due to the resumption of the state program of preferential car loans and increased used car sales on credit. It is also worth noting the increased consumer activity of citizens and the gradual easing by banks of their requirements for borrowers,” NBCH analysts comment.