Ukrainian banks open up prospects for used car lending

Ukrainian bankers are increasingly inclined to believe that lending for the purchase of used cars is a promising direction for the development of the banking business. During the round table "Consumer Lending in Ukraine - 2025: New Opportunities for Growth", industry experts discussed the possibilities of expanding credit programs in this segment, the Financial Club reports.

In 2024, 71.3 thousand new passenger cars were sold on the Ukrainian market. However, the used vehicle market has a much larger volume, where 142 thousand cars were registered during initial registration last year. These figures indicate high demand for used cars among Ukrainians, which makes this segment attractive for bank credit products.

Yevhen Gruby, Head of the Card Business Development and Cross-Sales Department at OTP Bank, noted that despite the growth of the new car market, real lending opportunities there remain quite limited. According to him, most new cars are sold either for their own funds or through leasing. The share of bank loans in this segment is only 8-9 thousand contracts per year.

Gruby emphasized that the used car market opens up much wider opportunities for banks. "We see potential in this area and are actively developing it. A significant part of our monthly growth in the loan portfolio is accounted for by financing the purchase of used cars," said a representative of OTP Bank.

A similar position was expressed by Oleksandr Repyakh, director of retail and microbusiness development at TAScombank. He admitted that although the bank is not yet actively engaged in this segment, it sees its prospects and is preparing for further expansion. "We understand that used car lending is an area that deserves attention and has a future," he added.

Given the high demand for used cars, as well as the desire of Ukrainians to upgrade their vehicles even in difficult economic conditions, banks are gradually directing their resources into a segment that until recently remained outside the focus of traditional consumer lending. This may not only improve the accessibility of cars for the population, but also revitalize the financial market as a whole.