The share of refusals for car loan applications has reached its lowest level since January

The share of refusals for car loan applications in August 2025 was 77%. This is 4.7 percentage points (pp) less than in the same period last year and 0.8 percentage points less than in July this year. The indicator has reached its lowest levels since the beginning of the year and has been declining for the fifth month in a row, the National Bureau of Credit Histories (NBKI) reported on September 12.

The largest share of refusals for car loan applications among the regions at the end of summer was recorded in the Novosibirsk Region (80.2%). The Kemerovo Region (79.7%), Krasnodar Territory (79.3%), Rostov Region (78.7%) and Stavropol Territory (78.1%) are next in this ranking.

The lowest share of refusals was recorded in the Republic of Tatarstan (71%), St. Petersburg (72.1%), Nizhny Novgorod (72.2%), Samara (72.3%) and Voronezh (72.5%) regions, as well as in Moscow (73.8%).

As explained by Alexey Volkov, NBKI's marketing director, the increase in the bounce rate at the end of last year and the beginning of this year created significant pent-up demand in the market, which banks also noticed. Given the downward trend in the key interest rate, banks are adapting their "appetite" for risk. However, lenders focus on borrowers with a good credit history and a debt burden ratio of no more than 50%, he noted.

We found a balance: sales of new cars increased by 1.3%

The car market showed moderate growth in August

Earlier in the day, the Central Bank of the Russian Federation lowered its key rate to 17% per annum. The economy continues to return to a balanced growth trajectory, lending growth has intensified in recent months, and inflation expectations remain high, the regulator said.

Auto expert Konstantin Boldyrev noted that the decision of the Central Bank of the Russian Federation to lower the key rate is a positive trend in the new car market. Against the background of the gradual weakening of the ruble, a decrease in the attractiveness of deposits may contribute to an increase in consumer interest, he believes.

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