The United Credit Bureau (UCB) summed up the results of car loans to Russians in July 2024. In July, banks issued 133.38 thousand car loans for 197.18 billion rubles. In annual terms, the number of issues increased by 61%, the volume – by 57%. In July 2023, 82.94 thousand car loans were issued for 125.70 billion rubles. 
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Compared to the results of June, the number and volume of car loans issued in July increased by 1%. In June, Russians took out 132.07 thousand loans to purchase a car for the amount of 194.64 billion rubles. The average car loan amounted to 1.47 million rubles, the average loan term was 71 months (5 years 11 months).
In total, 811.69 thousand car loans worth 1.19 trillion rubles were issued in the first seven months of the current year. Compared to the same period last year, the number of issues increased by 80%, the volume – by 91%. From January to July 2023, 451.83 thousand car loans worth 622.05 billion rubles were issued.
65% of the total number and 69% of the total volume of car loans issued in July were for new cars. During the month, 86.61 thousand loans were issued for new cars for 136.23 billion rubles. During the same period, 23.57 thousand loans were issued for used cars for 36.84 billion rubles.
The list of the top 5 regions by volume of car loans issued in July included: Moscow – 8.92 thousand car loans for 17.16 billion rubles, Moscow Region – 8.89 thousand loans for 15.48 billion rubles, St. Petersburg – 5.86 thousand loans for 10.18 billion rubles, Krasnodar Region – 5.69 thousand loans for 8.59 billion rubles and Tatarstan – 5.47 thousand loans for 8.14 billion rubles.
The largest car loans were issued in July to residents of Moscow – an average of 1.92 million rubles, Moscow Region and St. Petersburg – 1.74 million rubles each, Yamalo-Nenets Autonomous Okrug – 1.73 million rubles, and Leningrad Region – 1.61 million rubles.
"The continued high demand for car loans in July is explained simply: Russians, in anticipation of further price increases for both cars and loans, are trying to secure acceptable terms and buy a vehicle now. Firstly , the growth of the key rate and the subsequent proportionate increase in loan rates were predicted by experts at the beginning of the month, stimulating borrowers to have time to sign a loan agreement before the expected increase. Secondly , from October 1, it is quite likely that another indexation of the recycling fee will take place: the relevant resolution is currently under consideration," said Nikolai Filippov, Director of Risk Methodology and Data Analytics at OKB .
In 2024, car loan issuance in Russia will reach a record 2.3–2.4 trillion rubles
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