Credits at 48 installments and a final rate of up to 28.5% are the keys to the plan that the Government is promoting to reactivate the sale of motorcycles. This is an initiative that allows financing models of up to $200,000, of which 200 concessionaires throughout the country are participating.
The initiative was designed by the Ministry of Productive Development and the Banco Nación, which together subsidize 10 points at the interest rate of the loans, which have a single four-year term. It was reported that there are around 7500 models of motorcycles produced or assembled locally that participate in the program.
Although they are open to any interested party, the credits establish differences for users. Those who are clients of Banco Nación and credit their assets to the entity may take out a loan at an annual rate of 28.5%. Meanwhile, the value for the general public will be 37.5%.
In order to manage the credit, users must enter Banco Nación's website to start the process, and then go to a physical branch to complete the documentation. Once approved, the purchase procedure is carried out at the dealers that are members of the program.
As indicated by the agency, the loan finances 100% of the value of the motorcycle and the guarantee is to the sole signature of the recipient.
The complete list of units incorporated in the plan is available for consultation at tiendabna.com.ar/my-moto. There are, altogether, around 7500 options, considering the different versions and alternatives of 34 models of motorcycles.
With this tool, the Government seeks to boost sales in a declining sector. According to data from Acara's motorcycle division, 218,968 units were patented in the first 10 months of the year, a drop of 23.4% compared to the same period in 2019.
In October, however, the sector had better numbers than last year. There were 28,828 patents, with an increase of 22.6% compared to the same month in 2019. The expectation is that demand may grow, associated with the changes in habits resulting from the pandemic and restrictions on the use of public transport, which encourage the use of private mobility such as motorcycles, cars and bicycles.
Source: La Nación