Banco Nación to launch new car loans for the masses

[earlyretirement]

Great to see credit expanding in Argentina. On the flip side, now Argentines are going to get addicted to credit just like Americans..... 🤣


Banco Nación is about to launch a line of credits for purchasing new cars (0 km) in Argentina, thanks to an agreement with the Association of Automobile Dealers of the Argentine Republic (Acara).


The key details of this agreement are:


Maximum Credit: The maximum amount of the credit will be $100 million pesos ($83,500 USD)

Payment Term: The credit can be paid in up to 72 fixed installments.

Credit Management: Interested parties will be able to manage the credit directly at affiliated dealerships, without needing to go to Banco Nación. The process will be mainly online, making it easier for customers to access.

Origin of Vehicles: The credit applies to both domestically manufactured vehicles and imported ones.

Type of Credit: It is a personal loan


This initiative aims to boost new car sales in the country, where financing has been crucial for the recovery of the automotive sector. In January 2025, there was a significant increase in new car sales, with a strong financing component.

Créditos para comprar 0KM: un banco público acordó con las concesionarias prestar hasta $100 millones en 72 cuotas fijas

A través de un acuerdo preliminar entre concesionarios y el Banco Nación, se implementará una línea de créditos para la compra de autos 0 km. A pesar del anuncio, el sistema aún no está disponible y las condiciones finales del acuerdo aún deben concretarse

www.infobae.com

 

[Colin]

Great to see credit expanding in Argentina. On the flip side, now Argentines are going to get addicted to credit just like Americans..... 🤣


Banco Nación is about to launch a line of credits for purchasing new cars (0 km) in Argentina, thanks to an agreement with the Association of Automobile Dealers of the Argentine Republic (Acara).


The key details of this agreement are:


Maximum Credit: The maximum amount of the credit will be $100 million pesos ($83,500 USD)

Payment Term: The credit can be paid in up to 72 fixed installments.

Credit Management: Interested parties will be able to manage the credit directly at affiliated dealerships, without needing to go to Banco Nación. The process will be mainly online, making it easier for customers to access.

Origin of Vehicles: The credit applies to both domestically manufactured vehicles and imported ones.

Type of Credit: It is a personal loan


This initiative aims to boost new car sales in the country, where financing has been crucial for the recovery of the automotive sector. In January 2025, there was a significant increase in new car sales, with a strong financing component.

Créditos para comprar 0KM: un banco público acordó con las concesionarias prestar hasta $100 millones en 72 cuotas fijas

A través de un acuerdo preliminar entre concesionarios y el Banco Nación, se implementará una línea de créditos para la compra de autos 0 km. A pesar del anuncio, el sistema aún no está disponible y las condiciones finales del acuerdo aún deben concretarse

www.infobae.com

Does Argentina use credit scoring? Is there an equivalent to FICO like we have in the USA?

 

[Finance Prof]

Does Argentina use credit scoring? Is there an equivalent to FICO like we have in the USA?

They don't use FICO. But they have Veraz which is the most popular credit bureau. Like Experian, Equifax or TransUnion in the USA. Another agency is Nosis that is a major credit reporting agency that tracks financial behavior. The Central bank of Argentina (BCRA) also has their own database of people and companies with outstanding debt.

They group and categorize people into different credit risk levels. So before they give you credit they will check what level you are at. And the BCRA's Debter's Registry can prevent you from getting any loans or even opening bank accounts.

 

[Betsy Ross]

Whatever they are doing it seems like they are expanding credit. I lived here for over a decade and I never got targeted for credit cards. All of a sudden in the past few months I have been targeted with mail and telephone calls to get credit cards with fairly high limits. I have a peso account and a US dollar account but I don't keep many dollars in my account. I only transfer in enough cash to pay bills each month. If it is happening to me it is probably happening to others too.

 

[Wally]

Whatever they are doing it seems like they are expanding credit. I lived here for over a decade and I never got targeted for credit cards. All of a sudden in the past few months I have been targeted with mail and telephone calls to get credit cards with fairly high limits. I have a peso account and a US dollar account but I don't keep many dollars in my account. I only transfer in enough cash to pay bills each month. If it is happening to me it is probably happening to others too.

Banks have to really go out and provide loans now. They can't depend on the government anymore. I have the same thing happening with offers of credit limit increases and my wife's family business also has offers for expanded credit lines. I just hope this doesn't end up like the U.S. where everyone is up to their eyeballs in debt. We don't have to contend with wicked inflation in the U.S.