But a number of financial institutions continue to operate, the minimum interest rate for today is 18,9%, but in most banks it ranges from 27 to 30%. The size of the down payment varies from 20 to 50%. Against the backdrop of a shortage of cars in dealerships and a decrease in demand due to an increase in prices, the service has lost its relevance.
Over the past month, lending volumes have decreased by 80%. And the existing rates can be perceived as rather protective, it is unprofitable to buy a car on such conditions. Experts are confident that the situation will improve during the year, but no one gives accurate forecasts. Here's what some motorists think:
They don't, and thank God. Otherwise, crowds of alarmists would have taken loans and then paid off as they had to. I am against lending, and on such conditions you don’t even need to think at all. People are used to living beyond their means.
- Maxim Romanovich spoke
Lending under these conditions is a risk for the bank. Therefore, the interest is gigantic to insure. Everyone is waiting, there will be positive changes in the near future, but the situation is unlikely to improve dramatically. I don't think it's worth waiting for adequate interest rates on car loans this year.
– added by the user “Oxygen”
I did not have time to take out a loan, I will have to drive an old car until the conditions change. I can’t afford to pay a large amount at once, it’s convenient for me to get a loan. Payments used to be lifting, they did not greatly affect life. It’s good that the car was recently serviced, now changing the oil and rubber is a significant expense.
Alexander K. commented
For many, the old percentages were too high, but the current ones are generally the edge. Only a madman, or someone who will knowingly go bankrupt in the near future, can take a car on such conditions. It would be better to suspend loans until the situation stabilizes. But if they give, then there are those who take them, and this is really scary.
Fedor shared his opinion
In "decaying" America, the auto loan rate is 4,4%. Of course, their situation now is different from ours, but even before that, the percentage difference was large. I want stability and availability of loans so that they do not hit the budget.
- Oleg T.
