• Fri. Apr 19th, 2024

Financing for new car purchases rebounds as sales decline

BySamantha Johnson

Mar 23, 2024
Financing for new car purchases rebounds as sales decline

In a challenging economic environment characterized by high inflation and limited financing options, many automotive companies have decided to implement new financing plans in order to boost their sales. This comes in response to a significant drop in sales attributed to steep price increases in new vehicles over the past few months. Recent data shows a 14.8% decrease in operations compared to January and a 20.4% decrease compared to sales in February 2023.

During February, 14,469 vehicles were financed, with 61.1% being new units and the remaining 38.9% being transfers of used vehicles, according to data from the chamber of dealers. This has prompted automotive companies to reintroduce financing incentives to attract buyers. For example, Volkswagen Argentina has launched a campaign called “VW Weeks” offering 0% financing for terms of up to 12 or 18 months on models like the Nivus, T-Cross, Taos, Saveiro, and Amarok V6.

Stellantis, the merger of Peugeot and Fiat, is also offering financing plans for the purchase of PEUGEOT 208 or Peugeot Partner models during the month of March. Opportunities to finance vehicles range from $3,000,000 at a 0.0% rate with a 12-month term to $9,000,000 at a 9.9% rate for 12 months. Fiat has also introduced new financing options for models like the Cronos, Strada, and Fiorino at a 0.0% rate to attract more buyers.

These financing options are aimed at supporting customers during a challenging economic period and provide more accessible ways to purchase new vehicles. By offering 0% financing and flexible terms, automotive companies hope to stimulate sales and drive growth in a challenging market.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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