To purchase a used or new car costing 10,000 euros, the average Ukrainian must save up 15.8 months’ worth of salary, whereas a salaried worker in European Union countries needs only about three months’ average income for a similar purchase.

This is evidenced by the results of an analytical study conducted by experts at the Institute for Automotive Market Research, as reported by Dengi.ua.

The Gap Between Income and Actual Affordability of Cars

According to analysts’ calculations, the same nominal price tag on a vehicle places a financial burden on the budget of a Ukrainian citizen that is approximately 5.3 times higher than on the budget of an EU resident. These calculations are based on a comparison of gross income before taxes and do not include associated operating costs: fuel, regular maintenance, insurance, or interest on bank loans.

Key macroeconomic benchmarks for comparison:

  • Income in Ukraine: The calculation is based on the average nominal salary for August 2026, which was 31,892 UAH;
  • Income in the European Union: According to current Eurostat data, the average annual earnings of a full-time employee stood at 39,800 euros (approximately 3,317 euros per month);
  • Exchange rate equivalent: According to the official exchange rate of the National Bank of Ukraine as of the end of October 2026, 10,000 euros is approximately 504,350 UAH.

The Impact of Interest Rates on Consumer Behavior

Analysts note that the domestic used car market is severely constrained by budget limitations due to the high cost of borrowed capital. The median price of a used passenger car on the AUTO.RIA platform is $9,500 (equivalent to 13.4 times the average Ukrainian salary), with 51.6% of all sales listings concentrated in the range below $10,000.

Comparison of auto loan terms and purchase models:

  • Interest rates in Ukraine: With an average auto loan interest rate of 29.15% per annum, a three-year loan of 10,000 euros will cost the borrower 15,115 euros (the net overpayment exceeds 5,100 euros);
  • Interest rates in the Eurozone: With an average European interest rate of 7.92% per annum, the total payment over a similar three-year period would be approximately 11,268 euros;
  • Market habits: Due to exorbitant interest rates, Ukrainians are forced to save cash for years and buy older used cars, whereas EU citizens assess the affordability of a purchase based on a comfortable monthly loan or lease payment.