The Ukrainians are taking out loans to buy vehicles increasingly often: which models are the most sought after and what financing programs are offered?

A car is a necessity for some and a great investment for others, especially in the context of rate fluctuations. Sometimes it is a factor keeping entrepreneurial activity afloat, but the fact remains that the Ukrainians are buying cars on a loan increasingly often: in 2023, the share of credit sales of new vehicles is nearly 12%. Activity on the part of dealerships and expansion of loan programs and promotional offers are conducive to the phenomenon.

Credit Agricole is currently among the few banks on the market that continues lending. According to the bank’s estimates, in 2023, the demand for car loans grew by approximately 20% against 2022. “We can observe that consumer behaviour of Ukrainians is improving and in 2023 nearly UAH 2 billion financing for vehicle purchases was granted”, - shares Roman Bunich, Head of Long and Alternative Channels Development Department of Credit Agricole.

Which models are the most sought-after?

According to Credit Agricole, SUVs and crossovers are traditionally favoured by the customers. “Nine out of ten cars that we finance are SUVs and crossovers, adds Roman Bunich. The premium segment is also on the rise. In 2023, every fifth car loan we granted belonged to this segment. Such purchase is considered a great investment”. According to the bank representative, customer demographic is quite diverse: “We are offering a wide range of lending programs on favourable terms, thus people of various professions and age groups turn to us for financing: they range from young IT professionals (23-25 year-olds) to the more experienced agrarian sector workers and business-oriented industries. As a rule, the customers are interested in the two offer options: vehicles that can be purchased with the best price/quality ratio or the new models on the market that immediately elicit the desire to get behind the wheel. Customers from all over Ukraine come to us, even those from the regions neighbouring the territories with ongoing hostilities. Every customer matters to us, so we are happy to help and find the best solution for all».

Credit Agricole in partnership with Stellantis is offering exclusive lending terms for Peugeot, Citroen, DS, Jeep and Opel car models. The interest rate on the loan starts from 0.01% per annum, and the first installment on the loan is from 30% of the cost of the car. Credit term is up to 5 years. “We have adopted a comprehensive approach to our customers’ needs, so besides financing we are offering automobile insurance (CАSCО) and civil liability insurance from the vetted and reputable insurance partners. Another option is early loan repayment should the customer wish to opt for it”, - says Roman Bunich.

Even with the maximum credit terms (5 years) and under the condition of the minimum down payment (30% of the car value), the real interest rate remains at the level of 11.99% per annum. Online loan application can be submitted on the bank’s website.

If you prefer cars by Toyota, we have also got great news for you. Credit Agricole is the only one to put forward a unique offer on the market – «TOYOTA LEHKO» loan program to purchase a new Toyota vehicle with 30% or 40% of residual payment. The first installment is 30%, with no hidden payments or fees, loan term is up to 3 years. “Among the key advantages of the product is the feature that after 3 years of using the loan you can either keep the car or trade it in for a new Toyota vehicle or sell it to the dealership which guarantees buying it back at 70% of the initial cost”, - adds Roman Bunich.

Also, Credit Agricole has been collaborating with BMW dealerships for 10 years, thus offering another unique product with a grace period during the first 2 years, which on the one hand allows the customer to pay almost no interest in the first 2 years, and on the other - the customer can always make lower payments for the duration of 5 years.

Hot new offers on the car market

Very recently, a representative office of Jeep brand importer was officially opened in Ukraine, and new dealerships and a new model line including Jeep Compass, Jeep Wrangler and Jeep Grand Cherokee are already waiting for buyers. “We are among the first to launch a new lending program for the purchase of Jeep vehicles and we are offering our customers to take advantage of the favourable car lending terms”, - comments Roman Bunich.

Electric cars are another trend of the year, the demand on them is soaring. For those who prefer environmentally friendly vehicles, Credit Agricole is offering exclusive lending terms for electric cars and plug-in hybrids (PHEV).

The car brands offered by Credit Agricole are certainly not limited to the above list. “Credit Agricole does not set a goal of selling a specific car brand, we are guided by what our customers desire and require in order to offer them a wide selection – we offer exclusive lending terms with over 15 leading car manufacturers”, - shares Roman Bunich.

Why Credit Agricole 

“Firstly, we have been in car lending for 15 years now and we have all the necessary tools for high quality work at our disposal. Secondly, we have excellent expertise, sophisticated decision-making center and a team of professionals. Moreover, we are an only bank on the Ukrainian market holding ISO 9001 certificate in automotive lending. It is the guarantee of high quality customer service. We are doing continued work on speed of the procedures and improve them”, - comments Roman Bunich. The bank has chosen a comprehensive approach towards automobile aficionados which includes car lending, as well as related services that will be helpful to a customer. As an example, "DriveCard" credit card enables a customer to get an additional financial cushion when purchasing a car.

Applying for a loan is easy: when in a car dealership, talk to the credit manager and fill out the questionnaire. Thanks to the well-established processes at the bank, it takes only 1-2 days to approve a decision on a loan.