The preferential car loan program will continue to operate in 2023 for citizens who are most in need of support. This is reported by the Ministry of Industry and Trade of Russia.
We are talking about medical workers, employees of the education sector, as well as mobilized, volunteers and contract military personnel participating in the special operation, and members of their families.
According to the terms of the program, the basic discount for the down payment on the loan is 20% of the cost of the car, and for residents of the Far Eastern Federal District – 25%. It is clarified that a 25% discount applies to electric vehicles for all borrowers, but can be no more than 625,000 rubles.
All LADA, GAZ and UAZ models worth up to 2 million rubles, as well as Evolute electric cars, will participate in preferential car loan programs. The Ministry of Industry and Trade specified that VTB, Sovcombank, Gazprombank, and others provide preferential loans.
In November last year, the Ministry of Industry and Trade announced the extension of the program of preferential car loans for 2023. On March 25, the Federation Council Committee on Economic Policy proposed that the government consider increasing the amount of funding for the state program of preferential car loans in 2023 to 20 billion rubles.
Russian President Vladimir Putin has previously called for making car purchases more affordable for Russians. The Russian president asked the Cabinet of Ministers to pay attention to pricing in the market, and also turned to the Ministry of Industry and Trade with a demand to ensure that “no one abuses and unreasonably raises” car prices.