Auto loans may become cheaper from September 1

Industry and Trade Ministry has proposed to increase the discount for concessionary car loans. At the ministry's website was posted a draft decision the Government's plan to fix the amount of compensation to banks that provide loans for the purchase of certain brands of cars. Now, the state subsidizes the loans by 2 / 3 of the refinancing rate equal to 7.75%, ie at 5.16%. Of Industry and Trade Ministry submitted a proposal to fix this amount at 6%. Measure due to the fact that the refinancing rate at the time the program had changed 13 times, while fixing interest subsidies allow buyers to long-term plan for their expenses. Interested agencies should submit their opinions on the draft decision before August 23. If the fixed rate will be given the green light, the document will enter into force on September 1. Following these can be expected to reduce the cost of auto loans. Currently, the program of preferential car loan involved 105 banks. The loan amount is distributed on cars assembled in Russia worth up to 600 thousand rubles. Among the brands that you can buy appear: «Skoda Octavia», «Opel Astra», «Volga Siber», «UAZ Patriot», «Ford Focus», «Fiat Albea», «Renault Logan», «Chevrolet Niva» and «Skoda Fabia ». On their purchase has already issued about 90 thousand car loans.