Banks are increasingly granting loans secured by cars. In December 2023, compared to November, the issuance of this type of loans increased by 29%. At the same time, the volume of consumer loans issued in December fell to its lowest level in five years.
Banks have increased lending secured by car property. RBC writes about this with reference to data from the National Credit History Bureau.
In December 2023, compared to November of the same year, the issuance of this type of loans increased by 29.1% and reached a maximum since the beginning of the year. In total, in December Russians provided 10.9 thousand consumer loans secured by a car for a total amount of 14.2 billion rubles.
According to the office, the proportion of loans granted with a car guarantee represents 6.8% of the total volume of approved consumer loans.
However, in December 2023, the volume of consumer loans issued fell to its lowest level in five years. Banks provided loans to individuals totaling 239.9 billion rubles, 22% less than in December 2022.
On January 21, the modifications to the consumer loan law came into force. Now banks must calculate the total cost of the loan according to the new rules and take into account all the borrower’s expenses.
Author:
Kirill Bilyk
Source: RB
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