MIL OSI Translation. Region: Russian Federation –
The discount for obtaining a loan for a new car made in Russia ranges from 10 to 25% of its cost.
Decree of December 23, 2020 No. 2245
Decree of December 23, 2020 No. 2252
The concessional lending programs “First Car” and “Family Car” will be extended until the end of 2023. This resolution was approved by the Prime Minister Mikhail Mishustin.
Benefits for obtaining a loan will continue to be available to those who plan to buy a car made in Russia.
In the summer, the Government expanded these programs. Now, families raising at least one child (previously only large ones), health workers, as well as those who handed over an old car to trade-in on account of the initial payment can count on a 10% discount. At the same time, for residents of the Far East, the discount is 25% of the price of a new car.
At the same time, the maximum cost of a car that can be borrowed was increased from 1 million to 1.5 million rubles, and the possibility of obtaining a loan with state support for an electric car was added.
Mikhail Mishustin also signed a decree to extend the leasing programs “Svoe Delo”, “Russian Truck” and “Preferential Leasing”. They will be valid until the end of 2023.
Next year, 8.87 billion rubles will be allocated for preferential car loans, and 3.84 billion rubles for preferential leasing. The decision will allow even more citizens to take advantage of discounts, as well as support automakers suffering losses due to the spread of COVID-19.
The signed document changes Government Decree of May 8, 2020 No. 649 and Government Decree of April 16, 2015 No. 364.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.