Russians have become more likely to take out car loans with a down payment of more than 50%

Russians have become more likely to make a large down payment when buying a car on credit: in the first half of 2025, the share of car loans with a contribution of more than 50% increased from 27% to 37%. The share of borrowers with a down payment of 20-30% of the cost of the car decreased from 31% to 22%. And the share of those who take out a loan with a minimum contribution (0-10%) has decreased from 10% to 8%. On August 1, experts from eCredit (part of <url>) told Izvestia about this.

In the first six months of 2025, the approval rate for car loan applications dropped to 59%, compared with 69% in the first half of last year. The average car loan decreased by 20% to 1.39 million. The average price of a car purchased on credit also decreased by almost 9%, dropping to 2.1 million.

In July 2025, the average car loan rate was 16.2% compared to 16.5% in July 2024. For new cars, this figure was 9.9%, which is 4.1 percentage points (percentage points) lower than in July 2024, and the rate for used cars was 26.3%, which is 5.2 percentage points more than in July last year, the study says.

"In the face of falling demand, automakers are supporting new car sales through subsidized car loan programs. After reducing the key rate to 18%, we expect that the average rate on used cars will also begin to decrease. Rates on new cars will remain at the same level in the near future," explained Nikita Margolin, Head of Sales at eCredit.

46% (-12%) of the total loans for the reporting period were immediately issued for 84 months. Five-year car loans took the second place in popularity (20%), last year they were preferred by 23% of borrowers. Women are still less likely to apply for a car loan, but they are more likely to receive approval: in 2025, 63% versus 58% for men (compared with 72% and 67% a year earlier, respectively). The main core of borrowers are men and women aged 36-49, and their share remains virtually unchanged, analysts said.

Experts noted that they do not expect a sharp increase in car loans in the near future, as demand will continue to be affected by the high cost of cars, the risk of further changes in the exchange rate, as well as the level of real incomes of the population. A gradual recovery and recovery in demand for cars is likely if the key rate continues to decline, Margolin said.

Not everyone will survive: every tenth car dealer may leave the market by the end of the year.

Low sales and internal competition reduce profitability

The day before, Magomed Gamzaev, director of financial product development at Compare, told Izvestia that car loans in Russia have become less affordable. On July 1, 2025, new restrictions of the Central Bank came into force, aimed at reducing risks in the financial system and combating excessive creditworthiness of the population. Now, when issuing car loans, banks and microfinance organizations are required to take into account the borrower's marginal debt burden (PD).

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