Russia

Car Loan - a special form of consumer credit in which the car is the key to the full repayment of the loan amount. The Bank may require the sale of collateral in the event of non-payment of the loan by the borrower. Loans for buying a car can be made both in rubles and foreign currencies. Loan terms are also different lengths.

The most actively developing market of car loans in Moscow and St. Petersburg, where a sector loan offer to purchase machines is almost completely saturated. Here, the program auto loans sold 25-30% of the car, and in the next few years, according to forecasts of market participants, it will reach 70-90 per cent.

The interest rate on auto loans are currently averaging 9.12% per annum in U.S. and 14-18% in rubles. But one should also take into account the additional fees and a one-time and monthly - for examining bank loan applications, opening and maintaining the loan account, currency exchange and more.

Approach to the selection of auto loan, carefully weighing all the "pros" and "cons." The current variety of loan programs to select the most suitable option.

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