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In Russia, the issuance of car loans decreased
In Russia, began to give less car loans. In April, their number decreased by 80% compared to last month. Banks issued customers only 13,3 loans.
According to the Joint Credit Bureau, car loans were hit harder by the crisis than other market segments. This is due to both a decrease in the availability of car dealerships and a tightening of banks' requirements for borrowers.
Experts believe that the demand for this type of loans will recover more slowly than for other loans. Car prices are rising monthly, since their production is significantly dependent on the exchange rate of foreign currencies. Some borrowers may prefer not to buy new, but used cars.