Collectors: the delay on auto loans in the Russian Federation for 9 months increased by 22%

MOSCOW, 9 Oct. Overdue debt on loans in Russia increased in the nine months since the beginning of 2015 by 22% to 64.1 billion rubles, said the collection Agency “Sequoia credit consolidation”.

“The volume of overdue debt in the segment of auto loans increased from the beginning of the year at a record 22% and amounted to 64,1 billion rubles,” — said in a press release.

Russian banks, according to the Agency on October 1, issued with the beginning of the year about 300 thousand loans. For the first nine months of 2015 in Russia were sold on credit 35-40% of all cars in comparison with 45% for the same period last year.

“We can expect that the share of credit cars compared 2014 will decrease or remain at the same level, and at the end of the year only 35% of vehicles will be sold on credit. Now the market is the lowest figure over the past 5 years,” the Agency said.

The result of overall growth in overdue debt on auto loans is to increase this segment in the portfolio collection agencies. Now the share of car loans accounted for about 7% in their portfolios, while in 2014 this figure was at the level of 5.2% in 2013 to 5.1%, according to a press release.

“The growth in the share of overdue debt in the segment of auto loans due to the fact that the decline in the volume of car lending market is “aging” of the overdue debt on loans issued in 2012-2013,” — said the head of “Sequoia credit consolidation” Elena Dokuchaeva, words which are contained in the press release.