OREANDA-NEWS. Russian Ministry of Industry runs a program of preferential car loan, providing preferential rate for the purchase of cars on credit. The program will run from April 1st to December 31st, 2015. It is expected that the volume of sales under the program will be not less than 200 thousand cars.

As noted in the Ministry of Industry, the program of preferential car loan must help to stabilize the production and sales of domestically produced vehicles, to save jobs in the automotive and related industries, as well as to help overcome the negative trends in the automotive market and it will be an effective tool to stimulate demand for new vehicles.

Russian Ministry of Industry and Trade will provide a subsidy for banks in amount of provided by them discounts on loans on the basis of two-thirds of the key rate of the Bank of Russia, which currently stands at 14%. Thus, the discount rate will be 9.33 percentage points and a preferential interest rate will not exceed 15%.

Loans must be issued in rubles to individuals for the purchase of new cars, produced in 2015, the price of the purchased vehicle may not exceed 1 million Rubles, and its gross weight - 3.5 tons, prepayment must be at least 30% of the value of the car, the maximum term of the loan agreement – is three years.