Krasnodar, 11 July – Yug Times. The Krasnodar region has reportedly joined the list of Russian regions with the longest average term of car loans. In the region, the average term of car loans in May this year was 5.71 years.
The highest average term of car loans was registered in Khanty-Mansi Autonomous Okrug (5.79 years), Orenburg (5.77 years) and Tyumen (5.74 years) regions. In Russia as a whole, this indicator increased by 9.3% compared to last year's figure. "The demand for car loans has remained high for more than a year, while car prices have been steadily rising. In this regard, the amounts of car loans increased, while their growth was partly offset by an increase in the crediting period. After all, the 'longer' the loan, the smaller the size of monthly payments and, accordingly, the less debt burden of the borrower," explained Aleksei Volkov, Marketing Director of the National Bureau of Credit Histories
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