Head of the Department of Crediting and Insurance of the Audi of the AVTODOM Group about car loan

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Anna Utkina
117909, Zorge 17, Moscow, Russian Federation
Moscow 117909 
Russian Federation

Demand for car loans has fallen since mid-February 2022. April turned out to be the hardest month ever. The number of customers who used the car loan service increased from 20% to 40-45% since May. This trend is because the Central Bank of the Russian Federation lowered the key rate on car loans since May, and these began to gain popularity among Russians again.

2. What is the situation with car loans in the car market in Russia?
The share of car loans changed repeatedly in the domestic market during 2022. The share of lending averaged 49% in Russia in the first quarter of 2022. It has risen to 60% since August.

3. How have the conditions for obtaining car loans for men changed due to the latest political statements? What is the average loan term?
No changes have taken place. The approval rate is still high. The average loan term is 48 months. Customers began to apply a loan for a maximum period more and more often. It is 8 years, which allows reducing monthly payments. However, loans are closed ahead of time specified in the loan agreement.

4. What privileges can be provided for clients who want to apply for a loan?
Banks offer to take out life insurance, which is included in monthly payments, to reduce the interest rate when applying for a loan. Life insurance allows you to protect yourself against risks such as job loss. This allows the borrower not to spoil the credit history.

5. If a client wants to sell a car bought on credit, how can he do it?
The new buyer will not be able to register the car if it is in the register of pledges. Therefore, the previous owner needs to close the loan. Clients agree among themselves and appoint the signing of a sales contract directly at the bank, where the buyer deposits money into the credit account. Certificate of closing the loan is issued after that. The specialists of our dealer centers can help the client with this too. The dealership repays the loan for the client, if they hand over the cars under the trade-in program.

6. What insurance services are most popular now?
Casco insurance is the most popular service now. This risk should not be ignored either, although the Audi brand has never been a leader in car theft. Because car deliveries through parallel imports are actively starting now, the extended warranty service becomes relevant, because imported cars do not have it. We work with companies that offer equivalent factory warranties. This will allow the buyer to purchase a car from us and not worry about additional repair costs.

7. Why is it profitable to buy cars on credit in the current conditions? What are the advantages of obtaining insurance from an authorized dealer?
Car loans allow you to buy a car in the shortest possible time and get privileges when applying for an insurance product. The advantage of insurance in AVTODOM Group of Companies is the remote settlement of losses. We work with major car loan partners and with leading insurance companies. Audi Center Varshavka, Audi Center Taganka and Audi Center Vostok guarantee the safety of insurance transactions and will always help customers to resolve any insurance issue. A loan can be issued without a down payment and for a maximum period of up to 96 months under the conditions of partner banks. Only a passport and a second document is enough to apply for a loan.