In Russia, extended for a year the program of preferential car loans

The government of Russia in May extended the program of preferential car loans for 2017.

The corresponding decision on May 11 was published on the website of the Cabinet.

"The signed decree amends the rules, by which the program of preferential car loans is extended for 2017," the document says.

The total amount of funding for the program is 10 billion rubles. It is assumed that under the scheme of preferential car loans will be sold at least 350 thousand cars. The marginal cost of the car sold under the program has been increased from 1.15 million rubles to 1.45 million rubles.

In the explanatory note to the document it is noted that the program is aimed at stabilizing the production and sales of cars, preserving employment of car industry workers and related industries, creating favorable conditions for the purchase of cars on credit.

In addition, the Government of the Russian Federation extended the program of preferential leasing of wheeled vehicles for one year.