Central Bank’s study: Initial payment on car loans may be reduced


January 28, Fineko/abc.az. The Central Bank is conducting research to reduce the down payment rate on car loans.

ABC.AZ reports, citing the director of the CBA Department of Prudential Policy & Methodology, Leyla Nabieva.

"In particular, we are exploring the possibility of applying certain new regulations and benefits when lending to electric vehicles and hybrid cars," she said.

The car dealerships offer a reduction in the down payment on a car loan from the current 40% for new cars to 20%. Car sellers claim that the low demand for the initial payment will give an impetus to the sales of new cars, and the Azerbaijani fleet will "rejuvenate".