Electric cars in Russia began to be offered on credit on preferential terms

Electric cars in Russia began to be offered on credit on preferential terms

According to Kommersant, large banks have begun to issue loans for electric cars on special terms, while so far this segment accounts for less than 1% of the total volume of the car loan market.

From September 2, VTB will offer to take electric vehicles from official dealers for a period of up to 7 years, at 3% per annum. The maximum loan amount is RUB 7 million. with a minimum down payment of 20%. The rate will be fixed for car insurance for the entire term of the loan.

Gazprombank is already offering a loan of up to 5 million rubles, for 5 years, at 3.9% per annum. The source clarifies that the loan for the electric car is designed for premium customers, which makes it almost risk-free for the bank even at a low interest rate.

Loans for the purchase of Porsche Taycan are issued by Cetelem Bank (a subsidiary bank of Sberbank) and Rosbank, but the base rates are much higher – 10.9% and 11.5% per annum, respectively. Loans have a maturity of 5 years with an amount of RUB 12 million. and 8 million rubles.

Last year, almost 5.3 thousand used and 687 new electric vehicles were sold in Russia, according to SBS Consulting. In the segment of new electric vehicles, premium models are being released, including Tesla Model 3 (4.5-6 million rubles), Jaguar I-Pace, Porsche Taycan, Audi e-tron. These models cost from 6.5-7 million rubles.

It is expected that the qualitative growth of the market will begin when the production of electric vehicles is established in Russia, that is, no earlier than 2025. By 2030, according to the recently adopted concept for the development of electric transport in Russia, the country should produce at least 10% of electric vehicles of the total volume of all vehicles produced.

Electric cars in Russia began to be offered on credit on preferential terms

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