Russians rushed to get loans for used cars

In the second quarter of 2026, the issuance of loans for the purchase of used cars in Russia increased by a quarter. The Izvestia newspaper reports this with reference to data from the United Credit Bureau (UCB).

In April–June 2026, banks issued loans for the purchase of used cars for almost 136 billion rubles. In annual terms, volume increased by 24 percent. The number of issued loans increased to more than 94 thousand.

At the beginning of the second quarter, used cars accounted for only a quarter of issuances, but in August their share was closer to a third and amounted to 31 percent. For one new car there are now four to five transactions on the secondary market, noted auto expert Igor Morzharetto.

Used cars are rising in price about seven times slower, said Freedom Global analyst Vladimir Chernov. By August, the average cost of a new model had risen by eight percent over the year, while used cars had risen by 1.2 percent.

This trend pushes buyers to the secondary market, explained leading expert of Finam Management Dmitry Baranov. New cars are becoming more expensive due to exchange rates, logistics, recycling fees and limited supply of certain brands. Therefore, part of the demand is shifting not only to the cheapest segments of the secondary market, but also to relatively new used cars.