The Government Will Expand The Program Of Preferential Car Loans

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-11-26 13:59

The government is considering a draft of new conditions for the programs of preferential car loans "First Car" and "Family Car". If they are accepted, the maximum cost of the selected car will rise to RUB 1,500,000, and families with one minor child will be eligible for the Family Car program. In addition, compensation in the amount of 25% can be provided for the purchase of an electric car, however, none of the models sold in Russia meets the requirement for the level of localization - at least 1400 points.

Here's how the terms of preferential car loan programs look now:

• the First Car program is intended for buyers who register a car for themselves for the first time;
• the Family Car program is for families with two or more children;
• under the terms of both programs, the client receives a discount on a car in the amount of 10% of the purchase price (for residents of the Far East - 25%) - the state transfers this amount to the bank against the down payment on a car loan;
• the programs apply only to new Russian-made cars with a price not exceeding one million rubles. It is necessary to purchase a car exclusively from an authorized dealer;

• the entire range of Datsun, Lad (including Chevrolet Niva) and UAZ brands is suitable for the program. In addition, using government subsidies, you can buy budget configurations for Hyundai Cret and Solaris, KiRio, Nissan Terrano, Renault Duster, Kaptur, Logan and Sandero, SkodRapid and Volkswagen Polo.

If the new conditions of the programs are accepted, then new models will fall under them - some modifications of Hyundai Elantra, KiCeed, Cerato, Optima, Seltos, Soul and Sportage, Nissan Qashqai, SkodKaroq and Octavia. All of them are collected on the territory of Russia.

However, even despite the improvement in the terms of preferential lending, some dealers believe that increasing the threshold to 1.5 million rubles will not significantly expand the available model range. First of all, due to the upcoming rise in prices caused by the fall of the ruble against world currencies. According to Avto.ru, since the beginning of the year, cars of the ten best-selling brands on the Russian market have already risen in price by an average of 3%, and some models have added 8% in price. In the near future, prices will probably be revised again because of the dollar and the euro.

In 2020, 5 billion rubles were allocated for preferential car loan programs. This will be enough for about 50 thousand cars. It is possible that in the process of adjusting the budget additional funding will be allocated if the planned funds run out ahead of time.