Not far left

The crisis in the financial sector significantly affected the avtokreditnuyu policy of most banks. For example, the Moscow Bank for Reconstruction and Development Bank Home Credit guide has suspended the issuance of auto loans, and Moscow Credit Bank (ICB) has ceased to issue quick loans. With the money for a long time not to leave most banks, however, did not reduce car loans, and changed the conditions for granting loans. They have raised interest rates and increased the size of the down payment, while reducing the maximum term lending and stricter requirements for borrowers. Even such a large representative of the credit and financial markets, as Sberbank of Russia, which traditionally held low rate car loan, eventually could not escape the general trend and raised the stakes. Banks due to the introduction of more severe requirements of the situation. "The product line car loan VTB 24 has not changed. An adaptation of rates to the current state of the market, was also raised minimum down payment on the program" AvtoStandart "from zero to 20%. This change reflects the fact that the bank during the financial crisis is primarily focused the quality of loan portfolio, "- says the vice-president and head of the auto loan bank VTB 24 Alexey Tokarev. Rates on auto loans in rubles, which are ready to give borrowers Moscow banks currently range from about 15 to 20%. On average, they increased by 4.6%. For example, in the bank "Revival" rate for the year rose from 14 to 20%, said deputy head of retail operations, bank "Revival" Alexander Vasiliev. The growth of banks' requirements to increase the size of the down payment is valid in conjunction with a reduction in loan term - financial institutions minimize risk. Until a few months ago, almost every bank offering auto loans with down payment of 10%, and a number of financial institutions heavily promoted and auto loans with no down payment at all. Today it is difficult to find a credit institution, in which an initial payment of less than 15%, more often - 20%, and a number of banks the size of the contribution exceeds the limit by 30-35%. Such claims, for example, have established a bank UniCredit and Bank of Moscow. Nevertheless, auto loans with no entry fee can still be found on the market. However, most borrowers they can not afford - the stakes are high, and loan term is small. For example, a loan is in the IBC. "The advantages of the product are no compulsory initial contribution and commitment to car insurance, as well as freedom of disposal of the purchased vehicle - as collateral car will not be issued, the borrower can sell the car or transfer for use on general power of attorney", - says head of retail lending IBC Elena Korneev . However, in this case the term of the loan is small - less than 12 months and a maximum amount equal to 600 thousand rubles. at 20% per annum. In addition, the monthly fee is charged for maintenance of loan account in the amount of 0,5% of the loan amount and one-time commission is 2%. Does not that more like untied loan? However, consider yourself. Caution in the black bit in a better situation turned out to be credit institutions, which are always followed by a more moderate credit policy. For example, the bank "Revival" was originally adhered to the "low profile" position in the market of car loans - quick loans and other products with increased risk are not provided, so a change in the product line is now not necessary. Alexander Vassiliev says that the impact of the crisis on the bank is exhausted increasing interest rates, "which is due to obscherynochnoy trends preserve liquidity by increasing the profitability of credit products." Complexity of the situation, which hit the Russian banking sector, auto loans, exacerbated by the fall of the solvency of the population that gives rise to additional risk of loan defaults. Nevertheless, stressed Alexander Vasilyev, working with problem loans will go and stay "within the legal relationship established credit and security documentation and Russian legislation." Banks, however, difficult moment are choosing options for a possible credit scheme. It lies in the fact that the customer takes a bank car loan, and the lion's share of its costs in this case compensates for the dealer. Since the dealer is less affected by the crisis, rather than lending institutions, they can afford to agree to such a scheme to prevent a reduction in the market. The Bank, in turn, can afford to put not so high interest rates and less stringent requirements for borrowers, as guarantees of repayment it will no longer individual, and car dealer. Machines are not available Number of failures on requests for auto loans, according to the November investigation "Avtostat" to analyze trends in the Russian market increased by 1,5-2 times. And this despite the fact that in the summer of 2008 half of all cars sold was purchased by a loan. Now, this proportion dropped to 30%. The agency predicts that total this year will be sold 2,850,000 new vehicles in the amount of 65.5 billion dollars, of which about 1.32 million vehicles in the amount of $ 21 billion - through loan arrangements. However, even in midsummer the expected annual volume of credit sales was about 1.6 million passenger cars with a total capacity of the market in 3.15 million units. The average cost of a loan to buy a new car is expected to grow to 15,9 thousand dollars, which is $ 2000 more than last year. Overall, the Russian auto market in the second half of 2008 compared with the year wait to lose at least 6-7 billion dollars overall dynamics for the year is positive - it shows growth at around 30-32%, but this effect is deceptive. Positive results for the year - reaching the spring and early summer of 2008.