18:12, 17 November 2008 Page views 395 views

Autocredit Rates Grow in Russia

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Until recently the Russian banks provided credits for purchase of cars without initial contributions, without interests, and for long terms (up to 7 years), attracting clients to various autocrediting programs. As a result, in 2007, about half of all new cars were acquired due to credits. According to the motor-car manufacturers’ committee of the Association of European Businesses in Russia, in 2008 sales of foreign cars grew by 40 % in comparison with the previous year.

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