OREANDA-NEWS. The cheapest loans in June (including consumer loans), according to experts, were loans for new cars (with mileage from 0 to 1000 km). Their average total cost was 17.377%. These data were released by Association of Russian Banks, together with the research company Frank Research Group on Thursday, August 13th.

The Bank of Russia carries out a similar calculation of the average values of the total value of loans since November of 2014 on a quarterly basis. Experts of ARC and Frank Research Group offered an alternative formula, by which the average market value of the loan is calculated on a monthly but not a quarterly basis. Information is collected on basis of data of 20 banks.

From January to June, the average cost of a loan for a new car decreased by 8.39 percentage points, for cars with mileage more than 1,000 kilometers – it fell by 7.72 percentage points.

Recall that by the results of six months, Russia had issued more than 180 thousand of car loans, which was about 30% of total volume of new car market in the same period.