Russians have become less interested in car loans

According to the results of the first quarter, there has been a decrease in the share of approval of car loans, Magomed Gamzaev, director of the credit department at the Compare financial marketplace, told Izvestia on April 16. The indicator has dropped four times compared to the same period in 2024. According to the service, the number of applications for car loans has also decreased: the number of applications has halved compared to the same period last year.

"Borrowers in the current realities are starting to switch to more affordable cars. At the same time, there is an increase in demand for new cars, which is due to the existing special programs of manufacturers aimed at stimulating sales," the expert added.

He also spoke about the preferential car loan— a government support program aimed at stimulating demand for new cars. As part of this program, customers can expect a discount. In 2025, the focus is on supporting the domestic automotive industry, as well as vehicles manufactured or adapted for use in Russia.

"The program covers cars worth up to 2 million rubles, including brands such as LADA, UAZ, GAZ and others. To participate in the program, you must meet several conditions. First of all, you must be a Russian citizen and purchase a car on credit for the first time. It is also important to choose a car that participates in the program and have a stable income that allows you to repay the loan in the future," Gamzaev recalled.

For all four: the popular crossover from China has received a new version

Jetour Dashing AWD Test Drive

The basic discount for a new car under the program is 20% of its cost, but for certain categories of citizens it can reach 35% due to additional subsidies.

When deciding to apply for a car loan, it is important to carefully study all the terms of the contract and make sure that the chosen car meets the requirements of the program, the expert emphasized.

"Taking into account current trends and forecasts, it can be expected that by the end of 2025, the volume of car loans will continue to remain at a low level, with a possible decrease of another 10-15% compared to 2024. In 2026, if the economic situation does not change and interest rates remain high, we may see a further decline in car loans," Gamzaev concluded.

Earlier, on April 9, it was reported that in March and in the first quarter of 2025 as a whole, sales of Chinese cars in the Russian market decreased. In total, all brands from China sold about 41 thousand cars in Russia in the first month of spring (-49%) and about 132 thousand in the first quarter (-32%). The share of cars from China returned to the levels of two years ago and for the first time since the beginning of 2023 amounted to 49.6% in March this year, according to data from Gazprombank Automotive Leasing.