Brazil registers drop in vehicle financing; know why

Vehicle financing registered a fall in the month of May. It was 5% compared to last year. Despite this, an increase of 13.7% was observed compared to April. The data are from B3 and include light and heavy vehicles, in addition to motorcycles.

Read more: List of the most economical flex cars in 2022 is released by Inmetro

This also applies to new and used. The reason for the drop in financing is largely due to the restriction on credit caused by the indebtedness of Brazilian families. There were 478 thousand sales financed in May.

vehicle financing

Based on the results of the B3 survey, the numbers indicate that 2022 will still record a drop in vehicle financing. Sales in this modality rose 6.8% last year compared to 2020.

Also last year, 5.9 million new or used units were financed.

Before the difficulty in obtaining financing, Brazilians should consider other options.

One of them, which is increasingly common, is car rental. Depending on the need, it can be weekly or monthly. In any case, it is a way to avoid fixed expenses, such as taxes and vehicle maintenance.

Those who want to buy a car and do not have financing as an option can also bet on consortia. In addition to not paying interest, only administration fees, it is not necessary to give a down payment.

On the other hand, the time to acquire the car can be longer, as this wait can take years. That is why we warn that, when opting for a consortium, this choice will require more patience of the buyer.

In addition, it was also disclosed that, as an incentive for hybrid and electric cars, Banco do Brasil announced a 0.5% reduction in the financing rates for these vehicles. This is an attempt to encourage the purchase of cars that use clean, renewable energy.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

GOL will offer more flights to the United States from Brasilia

Gol issued a statement to the market informing that, as of this month of July, …