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MIL OSI Translation. Region: Russian Federation –

Discount when getting a loan for a new car made in Russia, will be from 10 to 25% of the price

Document

The decree of June 23, 2020 No. 907

Banks issuing preferential loans to families with children and providers, will receive funds from the state for reimbursement for lost income. The necessary changes in rules of subsidizing of credit institutions approved by Prime Minister Mikhail Mishustin.

The subsidy will be granted to those who offers loans at a discount of 10% from car cost to families raising at least one child, healthcare workers, and pass the old car in trade-in value on account of payment of the initial payment. In addition, for residents of the Far East the discount should be 25% of the price of a new car.

However, the maximum value of the car that you can borrow, increases from 1 million to 1.5 million rubles. This is done to ensure that large families became available in a modern spacious vehicle.

Only new program this year aimed 22.5 billion rubles. It will not only help to buy a car for those who need it, but also will support the Russian automotive industry on the background of the situation with the spread of a new coronavirus infection.

The signed document is amended in government resolution of April 16, 2015 No. 364.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure will not be perfect.

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