The Bank of Russia sets restrictions on providing car loans for a period of more than 7 years and non-targeted consumer loans secured by a car for a period of more than 5 years. This is due to the fact that banks have started issuing longer loans more often. As a result, the debt burden is artificially low. At the same time, the risks for the borrower increase, since over time not only does the value of the pledged vehicle decrease, but also the borrower's financial situation may worsen. We recommend that citizens interested in receiving a loan carefully assess their financial capabilities, as well as provide the lender with as much official information as possible about their income. Read more on the website.

The Bank of Russia sets restrictions on providing car loans for a period of more than 7 years and non-targeted consumer loans secured by a car for a period of more than 5 years. This is due to the fact that banks have started issuing longer loans more often. As a result, the debt burden is artificially low. At the same time, the risks for the borrower increase, since over time not only does the value of the pledged vehicle decrease, but also the borrower's financial situation may worsen. We recommend that citizens interested in receiving a loan carefully assess their financial capabilities, as well as provide the lender with as much official information as possible about their income. Read more on the website.