�UkrGasBank’ in mass media: Andrey Shapoval only for �Seichas’ edition
Regardless of borrowers’ expectations, the prices didn’t change. But starting from February, bankers envisage interest rate fall 0,5-1% low.Car loan market. Slack before boom.
Interest rates on car loan remain stable in Ukraine. But experts predict coming decrease. Regardless of borrowers’ expectations, the prices didn’t change. But starting from February, bankers envisage interest rate fall 0,5-1% low. “Beginning of every year is characterized by peculiar slack in loans increase, therefore a lot of banks take wait-and-see attitude on the market and appear with its new interesting offers by the end of January – at the beginning of February,” – stated Andrey Shapoval, Deputy Director of Credit and Investment Division, in his interview for “Seichas” edition.
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In particular manner currently all Ukrainian banks offer programs on car loans. According to experts’ appraisals the market is beyond satiation.
“Car loans are widely spread in our country. There are a number of auto shows where car on credit sales reach 50-80% of general number of sold cars. In spite of this fact, this segment is highly potential, inasmuch as remains new. In particular, not every financial institution offers services on credits of expensive cars, vip class cars, used cars and cars for commercial use,” – as Mr. Shapoval commented.
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Now car terms are similar in all Ukrainian banks. Car presents a mortgage. Term of loan is until 6 years. Average interest rate varies within 12-13% p.a. in currency and 15-17% - in UAH. Usually, standard advance payment up to 15% is foreseen. According to some co-branding programs with auto shows, banks provide loans without prepayment. Accent in the products depend on positioning strategy of every financial institution.
Competitive fight taking place on car loan market in prospect will be observed in service provision sphere. Car acquisition is not a key event for borrowers any more. They want receive the service quickly. Certainly, banks that plan to form qualitative portfolio on car loans are going to be competitive as of price parameters.
Veronica Prashuta
LIGABusinessInform
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