For discounted auto loans - to any bank

Now, soft loans will be available at any bank. To this end, the credit institution must submit an application to the Ministry of Industry and Commerce from November 1 until December 1. Recall that the program provides for interest on car loans in the amount two-thirds of the refinancing rate (right now - 9.5%) when buying a car made in Russia no more than 600,000 rubles. Earlier in the program could only participate State Bank (with a share of state not less than 50% or "daughter"), as well as banks, whose capital on April 1, 2009 amounted to not less than 70 billion rubles. The program involves Sberbank, VTB 24 "Gazprombank" and "Agricultural". It is not clear whether the program is renewed next year. According to current regulations, banks will give preferential car loans before the end of 2009 In fact, now it turns out that new players will be able to lend only in December. The budgets of 2009-2010, provided 2 billion rubles on government subsidies to banks, outstanding loans under this program. Recall that the program get car factory, AvtoVAZ, as well as cars Chevrolet Niva, UAZ Hunter and foreign cars assembled in Russia Fiat Albea, Kia Spectra, Skoda Fabia, Renault Logan, Ford Focus and Volkswagen Jetta. The average rate on ruble car loan is 23-25% per annum. The government's decision is due to several reasons. First of all, it is worth noting the claim of the Federal Antimonopoly Service (FAS). Office have repeatedly drawn attention to the fact that restrictions on capital and the state's participation in the bank counter to antitrust laws. But the main reason is that the program is clearly not yielded the desired results. Under the plan, this year should be issued 120,000 auto loans. But on Oct. 29, according to the Ministry of Industry, issued a total of 48 120, and requests from citizens received only 87,175. According to media reports, this program has already tentatively agreed to participate Rosbank, bank Nordea, OTP Bank and Raiffeisenbank. "The question now is how to extend this program or not?" - Commented Bank.ru analyst with Aton Julius Motivosov. "The decision has been made. But still, I think it would be logical, got the program will be extended. Together with the project for utilization of machines (for each recovered a car older than 10 years, its owner will receive a payment of $ 50 thousand), this measure may have a significant positive impact on the Russian car market. It is now clear that funds intended for soft loans will not be expended. This is one of the reasons that the program can be extended to 2010. By the end of summer auto market has stabilized. Former rush for no, but he return. At the same time, now people are ready to purchase cars, maybe they do not have enough funds, potential buyers are very cautious. But, just in case and need these government programs, "- says the expert.