The government will allocate 7.5 billion rubles for the renewal of preferential car loans and leasing

Moscow. June 30. INTERFAX.RU – the Russian Government will allocate 7.5 billion rubles on stimulation of sales of cars through preferential loans and leasing. These costs should ensure that sales of almost 60 thousand and 30 thousand units of motor vehicles.

Aimed at stimulating sales of vehicles and equipment, Prime Minister Dmitry Medvedev has signed on June 29, the text of the document published on the official Internet portal of legal information.

According to the decree, the Ministry of industry of the government’s reserve Fund will be allocated budget appropriations in the amount of 3,75 billion roubles on granting in 2017 subsidies from the Federal budget of the Russian banks for compensation of shortfalls in income on loans in the years 2015-2017 to individuals for the purchase of cars. The goal is to ensure the implementation of 58 thousand 350 cars (this amount is comparable to half monthly sales on the Russian automotive market).

In addition, in order to promote the implementation of wheeled vehicles under lease agreements to be allocated to the Ministry from the reserve Fund of the government budget appropriations in the amount of 3,75 billion roubles for granting in 2017 subsidies from Federal budget for compensation of losses in incomes of leasing companies in the provision to the lessee of the discount on payment of advance payment under leasing contracts of wheeled vehicles made in 2017. It is assumed to provide the implementation 27300 pieces of equipment.

The order shall enter into force from 1 July 2017.

The decision about prolongation of the program of preferential loans and preferential leasing wheeled vehicles in 2017 Dmitry Medevedev signed two months ago. In this limit the value of the car sold under the program increased from 1.15 to 1.45 million RUB million RUB, “that will compensate the rise in price of cars in 2016, to expand the list of subsidized brands and models of motor vehicles”. Discount on car loan in 2017 will amount to no more than 6.7 percentage points from the rate of the loan. The terms of the program of preferential leasing in 2017 compared to 2016 has not changed.