MedianAmount of Car Loan in Kuban Stands at 1.8 Million Rubles
In the summer of 2025, the car loan market in Kuban, Russia, is experiencing a gradual revival, according to Nikita Margolin, sales director of "Ecredit." The key rate reduction to 17% has contributed to a decrease in the average interest rate for used cars, from 26.3% in the spring to 24.9%.
Margolin, reported by PBC Krasnodar, forecasted a positive development in the vehicle credit market in Kuban. More car loan applications were approved in summer 2025 compared to the spring, with an approval rate of 71% compared to 66%.
The average car loan size for used vehicles increased significantly, rising from 1.42 million rubles in the spring to 1.53 million rubles in summer. In Kuban, the average car loan size reached an impressive 1.8 million rubles. This increase amounts to 247,000 rubles.
Banks have also played a part in this market development, decreasing the average interest rate on car loans from 15.2% in the spring to 11.7% in summer 2025.
However, it's important to note that a sharp increase in car lending is not expected in the market. Real incomes, currency rates, and manufacturers' pricing strategy will influence demand recovery in the car market.
The approval rate for car loans in the used car segment decreased by 3 percentage points to 40%. Despite this, Margolin expects a continued decrease in the average interest rate for used vehicles due to the key rate reduction to 17%.
The market shows cautious optimism, but it's clear that a comprehensive understanding of economic factors is crucial for a successful and sustainable revival of the car loan market in Kuban.
