Car loans may become more affordable

Car loans may become more affordable

      Thanks to the reduction of the key rate to 18% per annum, banks may start offering more favorable terms on auto loans, reports the magazine "Za Rulem."

      As many experts note, interest rates on loans for used cars could decrease from the current 25-30%, and for new cars—from 11%, considering government subsidies. The reduction from the current 18-25% may apply to vehicles outside of government subsidized programs.

      The publication states that it is currently unknown how much auto loan rates can be reduced. Overall, a decrease in the interest rate on auto loans will make car buying on credit less burdensome.

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Car loans may become more affordable

After the key rate decreases, banks may start offering more favorable terms on auto loans.