The government has extended the preferential car loans programme

The government has extended the preferential car loans programme

 

RusAutoNewsCom. – The duration of the preferential car loans programme has been extended to the 2018-2020 period, as published by the Russian Government.

The preferential car loan programme has been extended following the signature of a decree, proposing amendments to the relevant rules.

The rate of discount provided to the residents of the Far East region has been increased to 25% of the purchase price of the vehicles, in order to facilitate the availability of Russian manufactured cars under the programmes “First Car” and “Family Car”. The decision aims to close the gap in between the prices of new and second hand automobiles.

The total funds for the programme add up to 15 billion rubles. Through the implementation of the preferential car loan programme 45,100 automobiles are planned to be sold in 2018, 5800 transactions taking place in the Far East Federal Region.

The preferential car loans programme has been in force since 2015, which provides discounts on initial payments for cars in the amount of 10% of the vehicle cost price, to be followed by further reimbursement of costs from the federal budget.