During the existence of the Union of Soviet Socialist Republics, no one was engaged in car loans, since the car was some kind of curiosity, it was a large shortage. Closer to the end of the nineties in Russia, the very first car loan programs based on the US-Russia fund, which provided partner banks with all the necessary financial resources, began.
Such an undertaking received gratitude from consumers, but it did not last long. Just lending could not yet reach the normal level. Defolt and the US-Russia Foundation occurred suddenly quickly finished its activities and simply disappeared.
Really car loan began approximately in the second half of 1999. At this time, it became clear that Russia is going to develop further confidently and persistently despite all kinds of obstacles. This is a very strong country that will always be confidently standing on his feet and will never yield to its rights. Dealers of foreign automakers turned to domestic banks with an offer that interested banks. Mutually beneficial cooperation was proposed, as well as establishing the lending process using Western schemes and standards. This was a real event in the history of the Russian economy.