Car Loan Rates in Kazakhstan Reach 24.4% as Demand Cools
Summary
Kazakhstan's auto loan market faces declining demand as borrowing costs rise to 24.4% following previous record highs.
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The automotive lending market in Kazakhstan is showing signs of a slowdown following a period of record-breaking activity. Consumers are increasingly postponing vehicle purchases financed through bank loans.
The primary driver behind the cooling demand is the rising cost of borrowing, with interest rates on auto loans reaching 24.4%.
Higher financing costs are prompting buyers to reassess their budgets and defer car purchases until market conditions shift.
Source: Kapital.kz
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