In October, the issuance of car loans to Russians decreased by 37%

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In October, the issuance of car loans to Russians decreased by 37% compared to September, as reported by the United Credit Bureau (OKB). In just a month, more than 86 thousand loans were issued for a total amount of 123 billion rubles.

The average size of a car loan in October increased to 1.44 million rubles, and the repayment period increased to 5 years and 10 months, according to OKB data. The average level of the total cost of car loans exceeded 23%.

The share of loans for the purchase of new cars decreased to 66% in October, compared with 72% in September.