In the second half of 2024, the activity of buyers intending to purchase new cars on credit may decrease.
This forecast was provided by Serhii Kiporenko, Head of сar loans at GLOBUS BANK.
At the same time, according to the expert, interest rates are unlikely to undergo significant changes: depending on the down payment and the loan repayment period, they will range from 0.01% to 15% per annum.
“War, gradual projected devaluation of the hryvnia, and potential increases in the cost of new cars may deter potential clients from visiting car dealerships. However, the market is unlikely to see a significant downturn. Demand, as it has been for the past five months, will be for cars with ‘zero’ rates for short terms (1-2 years) and large down payments (40-50-60% of the total vehicle cost). The main factors that could influence a revision of interest rates and accordingly ‘stir up’ demand could be further reductions in the NBU's discount rate, the entry of new players into the bank lending market with competitive conditions. Finally, a ‘calming down’ of hostilities or the end of the war could also have an impact,” summarized Serhii Kiporenko.
