OREANDA-NEWS The average size of a car loan in the Russian Federation increased by 40% last year to 1.64 million rubles, while citizens on average took about 2 million rubles from banks for a new car, and 1.5 million rubles for the purchase of a used car, RIA Novosti was told in Otkritie Avto (Otkritie Bank's car business unit, VTB Group).

"The average car loan receipt in 2023 increased by 40% and amounted to 1.64 million rubles, including 1.95 million rubles (+34%) for a new car and 1.48 million rubles (+45%) for a used car," the study says. At the same time, the average term of a car loan has also increased - from 70 to 74 months.

It is noted that the average loan receipt for a domestic car in 2023 amounted to 935 thousand rubles, for Chinese – 2.2 million rubles, for Korean – 2.6 million rubles, for Japanese – 3.4 million rubles, for European brands – 3.8 million rubles.

According to the company, in 2023, borrowers most often issued car loans for used cars - they accounted for two thirds of the number of loans and 58% in monetary terms. And the leading regions in terms of issued car loans are Moscow, St. Petersburg, Krasnodar Territory, Tatarstan and Chelyabinsk region.