FNP: Russians pawned more than 858 thousand cars and motorcycles in January-May
Based on the results of the first five months of 2024, Russians pledged a total of more than 858 thousand cars, motorcycles and mopeds in order to take out a loan. About it reports the Izvestia newspaper with reference to statistical data from analysts of the Federal Notary Chamber (FNP).
In January-May, Russians mortgaged vehicles to obtain a loan 60 percent more often than in the same period last year, experts said. The Chattel Lien Notice Register currently contains a total of 10.9 million vehicle lien records.
At the same time, according to analysts, pawned vehicles often end up on the secondary market. At the same time, sellers often do not warn potential buyers that the car or motorcycle being offered is under encumbrance.
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As a result, the latter often find themselves in a difficult situation, the department explained. “If the former owner stops making payments to the bank, the bank demands to pay off the obligations or return the car from the new owner,” the FNP summarized.
Earlier, Gazeta.Ru, citing data from the fintech service CarMoney, reported that in January-March 2024, the average cost of cars pledged in Russia for the first time exceeded 1 million rubles. Based on the results of the first three months, the figure reached 1.012 million. In annual terms, the average cost of mortgaged vehicles in the country increased by 13.5 percent.
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