Used car loans have fallen by almost 60% in Russia

In the first eight months of 2025, 284,000 loans for used cars were issued in Russia, which is 58% less than in the same period last year. In monetary terms, the volume decreased even more — by 63%, to 340 billion rubles. Sergey Tselikov, director of the Autostat analytical agency, told about this in his Telegram channel.

At the same time, as the expert noted, the volume of the used car market remained at the level of last year — 3.87 million cars were resold in the country in eight months (+0.3% YoY).

The analyst cited the large volume of old cheap cars on the secondary market as one of the reasons for this difference. The share of cars over the age of 10 in the "secondary market" exceeds 70%, and about 40% are sold at prices below 500 thousand rubles. This is also due to the fact that instead of car loans with car collateral, buyers use consumer loans, loans from friends or microfinance at high interest rates. Only good dealer cars remain in the car loan segment, and there are fewer of them on the market.

"Loans for used cars are not subsidized by anyone. The bank rate has increased significantly. For the first eight months of this year, the average value was 26.3%. This is 5.7% points higher than last year. And in 2023, the rate was even lower, at 15-17%. Banks don't really like the topic of used cars and their borrowers. Approval has dropped to 25%, while penetration (market share) has decreased by almost 11 percentage points and now stands at just 7.4%." — told Tselikov.

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Earlier, on September 17, it was reported that during the summer months of 2025, the approval rate of loan applications for new cars increased by 4%, the average loan amount increased by 310 thousand rubles. The approval rate and loan amount for used cars also showed a slight increase. The loan amount for a used car in the spring amounted to 1.31 million rubles, and in June-August it rose to 1.35 million rubles.

Olga Boyko, Director of the Financial Services Department at Rolf, said on September 12 that a reduction in the key rate from 18% to 17% per annum could lead to an improvement in consumer sentiment and an increase in demand for credit products in the retail sector.

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