According to RIA Novosti, last year banks in Russia issued a record amount of money (615 billion rubles) for car loans.

Analysts said that in December 2019, the average amount of money issued by banks to buy a car increased by 9.6%.

“The increase in the average amount of car loans in December is primarily due to the demand for more expensive car models. Demand, among other things, was spurred by the expected increase in the cost of cars in 2020 due to an increase in the utilization fee and a number of other changes, ”the experts said.

Earlier, the head of the Department of Financial Management at Plekhanov Russian Economic University, Konstantin Ordov, in an interview with the FBA “Economics Today”, assessed the prospects of mortgage lending in 2020.