Market of auto loans speeds up.

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Market of auto loans speeds up

Auto loans recently became locomotive of bank retail. Today already each third machine is bought on credit. According to RBC, volume of market of auto crediting on results of first half-year has made 5,4 billion dollars.

By estimations of bank "Russian Standard ", for 6 months market has grown on 20 %. However, this growth could be even more impressive, if manufacturers had time to satisfy a growing demand for foreign autos. In opinion of analysts of bank, demand in this segment strongly exceeds offers. Thus growth of a portfolio of "Russian Standard " essentially exceeds growth of market. From a three of leaders by quantity of given out credits "Russian Standard " has shown greatest growth.

Experts of many banks speak about serious growth of portfolios. According to chief of a department of autocrediting of Probusinessbank Michael Ohapkina, volume of a portfolio on autocrediting Probusinessbank for end of September has increased twice in comparison with end of 2005. In bank " Avant guarde " for first half-year volume of given out autocredits has made 1 billion 566 million rbl. " It on 75 % exceeds a last year's parameter ", - vice-president of bank " Avant guarde " Sergey Tarakanov has informed "NG". Hardly it is more year back beginnings to give out credits for purchase of car Absolute Bank, and today it already is on 4 place on rates of growth of a portfolio of autocredits. "For October, 1st our portfolio makes 38,6 million dollars, that in 12 times more a parameter on beginning of year ", - vice-president of board specifies Absolute of Bank Oleg Skvortsov. As he said, autocrediting - one of most demanded and consequently dynamically developing bank products.

Interest of population to auto crediting constantly grows: our compatriots are ready to get more and more dear cars of foreign manufacture - and what are imported into Russia, and that gather at us in country. People, at last, have understood, that it is unessential to save for purchase of machine. Those who else recently presumed to itself only inexpensive domestic auto, by means of credit get machines of higher class. By estimations of different banks, average size of autocredit today in a range from 15 thousand dollars up to 20, and average term of credit - 3 years. For example, in Absolute Bank average sum of credit now makes 18 thousand dollars " For last year it has a little decreased in connection with beginning of work of regional programs of bank where less dear cars " are demanded, - Oleg Skvortsov specifies. Thus more than 60 % of a portfolio make new foreign cars, share of credits for sum from above 50 thousand dollars And most popular, according to Oleg Skvortsova, - credits with sum of an initial payment of 10-20 % increases also.

Expert estimations confirm: Russians prefer new cars. According to analysts of "Russian Standard ", practically 40 % of all new cars are bought on credit, while on second-hand autos a share essentially below - within limits of 10-15 %. Our people still in old manner get second-hand machines at private persons, they have not got used to help of banks and autodealers yet.

It is clear, that growth of appeal of auto credits is connected also by that conditions of their reception become more and more favourable. Rates under credits smoothly decrease after rate of refinancing. According to Oleg Skvortsova, for last some years rate has decreased on 3-4 items, but it is not unique factor of increase of interest to programs of autocrediting. "Market began to offer more interesting conditions: terms of crediting have grown, sum of an initial payment has decreased to zero, there was a set of interesting programs. Besides banks enter regional market where autocredits - one of most demanded products ", - are specified by it. Analysts of "Russian Standard " mark, that today there are examples, when rate under credit actually below rate of refinancing. To avoid problems with legislation, rate for credit, registered in contract, in these cases does not fall below this threshold, and a difference make out in form of discount for car. Also alternatively make out credit under contract of a factoring.

Banks are interested in development of autocrediting. For them segment least brave. In fact machine is simultaneously maintenance under credit till moment of its full repayment. According to analysts of bank "Russian Standard ", a default under autocredits it is essential below, than under consumer credits in places of sales, to credit cards and credits cash. share of non-returns under autocredits as a whole on market does not exceed 1 %. " Today owing to carefully developed system of an estimation of solvency of client in Absolute Bank minimal percent of delay, and a share of a non-return it is equal to zero ", - Oleg Skvortsov specifies. In Sergey Tarakanova's opinion, presence of well thought over and weighed policy in field of an estimation of risks allows without damage to quality of a credit portfolio as much as possible to approach conditions of granting of autocredits to wishes of borrowers.

Experts are unanimous: autocrediting is big, growing market which while is far from saturation. It is possible to speak about saturation, when 65-70 % of cars will be on sale on credit. For example, in past to year in Europe by means of credits it has been sold about 80 % of cars. At same time, experts of bank "Russian Standard " notice, profitableness of autocredits is low in connection with a high competition and a low threshold of an input on this market. Interest rates under loans were practically made even at majority of banks, to involve clients due to their downturn to credit organizations not favourably. In opinion of experts of bank, now struggle goes on other floor is a simplicity and speed of reception. Priorities will be behind those banks which can offer qualitative service and interesting products. Many banks today have developed special programs directly with motor-car manufacturers, someone involves clients due to reduction of insurance payments, there are programs, allowing to return machine in a motor show even before termination of term of credit. " A competition in this market very rigid, therefore banks aspire to offering borrowers conditions most interesting and favourable to them ", - Oleg Skvortsov specifies. " Market of autocrediting will grow ", - Sergey Tarakanov is convinced. By Oleg Skvortsova's estimations, nearest two years rates of growth will be kept at a level of 70 %. It is caused by growth of incomes of Russians, increase of their interest to given kind of crediting and growth of market of sales of cars.

Source: Info Cash Loan (24.12.2006)

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