Argentina
Banco Provincia Launched Digital Loans to Buy 0 km and Used Cars
The Buenos Aires-based institution added two financing lines for vehicles, one at a fixed rate and another adjusted for UVA. According to Todo Noticias, they can cover up to the full value of the unit and are handled online at participating dealerships.
Banco Provincia launched a new financing line for the purchase of 0 km and used cars, with fully digital processing at participating dealerships in the province of Buenos Aires, according to Todo Noticias.
According to that outlet, the proposal includes amounts from $100,000 to $50 million and can cover up to 100% of the vehicle’s value, subject to credit evaluation and the conditions in force for each customer.
The operation includes two modalities. One is adjusted for UVA and starts at UVA + 6% annually, with terms from 12 to 48 months. The other is a traditional line with a fixed rate starting at 55% annually and repayment terms from 12 to 72 months.
According to Todo Noticias, those who want to access it must select a vehicle at one of the more than 70 participating dealerships. There they receive a financing proposal and, if they accept it, they can confirm the transaction from Cuenta DNI or Home Banking BIP, without submitting paperwork or making in-person procedures.
The outlet added that installments are paid monthly through automatic debit. In addition, Banco Provincia framed the measure within a strategy to expand its presence in different consumer segments with digital tools and new financing options.
Todo Noticias also noted that this remote loan scheme is already applied to the purchase of motorcycles, modular homes, construction materials, and to sectors such as health and aesthetics, hospitality, and passenger transport.
Sources
About this note. Written by El Notero with the assistance of artificial intelligence, based on what was published by the cited outlet. El Notero did not do its own reporting on this event.
