OREANDA-NEWS. October 06, 2014. In current year indicators and trends of car loan market are significantly different from the last year. Thus, Ukrainians rarely take car loans and bankers change lending conditions.

"About 17% of car sales made through the credit according to our data for 8 months of 2014. In 2013, this figure was about 21%, - says Lubomir Punchev, the Director of Retail Business Center at UniCredit Bank. - Trends of 2014 are very different from 2013. Lending volumes as well as overall cars sales dropped by times. At the same time, interest rates have risen and are at a consistently high level."

Mr. Punchev said that if in the past year banks were actively working with the advances up to 0%, today an average minimum advance is 20% out of the car cost. In addition, the practice of limiting a maximum loan amount and loan term was implemented in 2014.

The tense situation in Ukraine will continue to have a direct impact at the car loan market. "This year, all car loan market trends directly depend on the political and economic situation in the country. At the moment there are no preconditions for changes of car loans interest rates. By year-end rates will not change fundamentally."- banker adds.