The roads to reach 0 km

If the forecast is fulfilled, the automotive industry will market about 950,000 vehicles this year.In fact, at the end of September 752,724 zero kilometer had been patented, 11 percent more than in the first nine months of the last year, according to ACARA data -the association that brings together concessionaires.And one of the keys to such progress is that the market offers multiple financing possibilities to tempt savers or companies, as the case may be.Of course, at first it is easy to get lost in the tide of ads.

Therefore, it is essential to be clear how to act, make a correct analysis of the situation and then choose the best payment option to make a car.There is a bit of everything and sometimes the desire to close the operation can quickly become against whether the necessary collections are not taken, the specialists consulted coincide.Cold mind and a hand calculator are usually good companions when analyzing the "small print" of the contracts.

In general, to buy a vehicle there are several options: cash payment, leasing, with a pledge or personal loan, through a savings plan, or a combination of the above.And each route has pros and cons.

"The difference between the loan and the savings plan is that the fees of the plan are adjusting below or along with inflation and has longer deadlines to pay. Instead, traditional loans, in general, have a lot of interest ratesHigher and the times to pay shorter, "says Mariano Otálora, finance specialist and author of the book What do we do with the weights?

So, although the payment in cash is the most chosen alternative, with 56.7 percent of the total operations so far in 2013 (as of September), according to Acara, the financing gained ground: almost 23 percent year -on -year grewIn the first nine months of the year and already represents 43.3 percent of sales (garments are 41.6 percent and leasing, 1.7 percent).

By providing creditor, those who took loans in banks, in the financial ones of the brands, through savings plans offered by the terminals or through specific offers of the dealers, private companies and commercial companies.

Finally, according to the report, in the case of sales made through garments, 40 percent was made through "savings terminal", 30 percent through "financial terminal", while 28 perOne hundred was made through banks (2 percent opted for other variants).

In the ranking of banks used, the HSBC leads the table (24 percent), followed by the Santander Río (23 percent), the ICBC (22 percent), the French BBVA (9 percent) and the Cetelem (7 percent).

Meanwhile, in concrete numbers, according to the Association of Financials of Automotive Brands (AFIMA), of the total patents (758,021) of the accumulated this year until September, 320,642 were per pledge.

In the report, a large rise in savings plans is verified: 10,564 plans marketed in September 2012 to 16,609 in the same month of this year, which represents a rise of 57.2 percent.

In the annual accumulated, this modality registered an increase of 31.4 percent year -on -year, which in numbers is equivalent to 93,849 to 123,285 negotiated plans.According to Acara, meanwhile, in the first nine months of the year 420,861 savings plans were signed, which represent an interannual growth of 4.5 percent.

On the other hand, the operations carried out through brand financial ones went from 9020, in September last year, to 11,233 in the same month of 2013, an ascent of 24.5 percent.In the accumulated, it went from 76,991 to 92,569.

Finally, it should be noted that the plans offered by terminals were practically quintupled, with 481 marketed in 2012 and 2564 this year.

For those who are not hurried to make the unit, the savings plan is usually an attractive option.It is a system from which a group of people constitute a common savings fund for the purchase of a car."It is a way to save, since the car is paid in installments without interest. Of course, the fees are variable and are updated according to the final price of the unit," describes Sebastián Antelo, commercial supervisor of savings plans in Car One"In addition, then you can sell the plan," he finishes.

It is usually the favorite option of young people: the vast majority of those who choose this option are between 25 and 35 years, explains the executive.

The mobile value is the price of the sales list suggested by the terminals and is used to calculate the value of the fees of the plan, ranging from 50 to 84 monthly payments.

Today, it is a point in favor of this type of financing.It happens that the increases in the value of the cars (1.5 percent monthly is calculated, according to sources in the sector), run below wages, according to Otálora.

"While the quota is not fixed, it is much cheaper than a loan, since it has no interest. In addition, the client can, at any time, make an advance to cancel the debt," they explain from the savings plan teamof Chevrolet.

The purchase is made directly to the automotive terminal, which is responsible for the billing and delivery of the units.

This method has advantages."The pure quota of the vehicle is paid plus 10 percent of administrative expenses on that value that is lower than the total financial cost charged by banks for a pledge," they say from Renault Rhombus.

In addition, tendered and anticipated quotas by other adherents of the group entering the Fund allow to deliver more than two units and thus shorten the award times.

"The conditions that put the terminals for the granting of the credit are much more flexible than those requesting the banks," they add from the Rhombus brand.

Fernando González, Financial Manager of Tito Gonzalez, Volkswagen's official dealer: "Only in 20 percent of the savings plans operations are required guarantor, especially in cases that income cannot be demonstrated," also realizes this.

However, it has some cons.The main one is that the only way to access the car is through raffle or tender, so wait can be long.

Of course, depending on the type of option (70/30; 80/20; 100/100), at the time of award the winner must pay the corresponding to what is outside the financing.So, if you have a plan of 80 percent funded, the other 20 percent must be paid in this way.

What must be taken into account is that the plan can lead to a paradox: if the car is received in the last quota, then the value of the paid is proportional to the value of the car.But, in the event that the car is obtained before, in the future fees will be paid on an updated value that will be different from the value of the car obtained.

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It happens that the price of the quota does not freeze when receiving the unit and that is aggravated because the cars lose value when leaving the dealership.Similarly, it would be the "implicit" cost of obtaining the car before.

Of course, whoever has the capital, can totally or partially cancel the value of the pure quota at the time of payment without administrative expenses or life insurance.

Anyway, the increases in the quotas also end up favoring those who chose this option."Beyond that it is a saving to acquire a 0 km, the plan is a way to capitalize, since month by month, together with the increase in the list price, the saved value is also increased," they explain from Renault.

Through this route, in the Utoahro Plan of Volkswagen they have already delivered more than 2 million vehicles."It allows customers to protect their money, since the amounts paid are adjusted monthly for the price variation of the subscribed model," they say from the firm.

The most common types of plan are usually 70/30, where the terminal finances 70 percent and the other 30 must be paid in cash at the time of adjudication of the car.Other variants are 80/20 or 100/100, in which the total vehicle is financed.

It is important to note that plans can be transferred between people.The benefit of buying one initiated is that the value of the quotas already paid are usually lower than it would cost to enter a new plan with all the fees updated by the mobile value of the vehicle.

Another variant are the awarded plans that were already tendered or raffled and the car is ready to deliver.A premium is usually paid for this type of operation, with the benefit of ensuring immediate delivery.

Meanwhile, the quota is composed of five elements: the aliquot (it is the result of dividing the mobile value of the good by the number of months of the plan), administrative positions, admission and permanence right, life insurance and safe of the good.

An example is the Ford oval plan.In the case of Ford KA ($ 85,153), 100 percent of the vehicle can be financed in 84 installments with a monthly cost of $ 1049.

Another example is Chevrolet 70/30 plan to access the Celtic model ($ 72,600), with 84 pure installments of $ 605, with the obligation to pay the remaining 30 percent at the time of award.In the case of Renault Clío Mío Tres doors ($ 69,500), it can be fully financed in 84 monthly payments, with a pure fee of $ 827.

In the case of those who choose to request a pledge or personal loan, it is key to know the total financial cost (CFT) to avoid surprises."The banks, in general, give the information of the TNA (annual nominal rate), but you have to look at the CFT, which includes all expenses," Otálora warns.It is that, he adds, it can happen that the bank with the largest TNA ends up being the most economical option.

The difference between a personal loan and a pledge is that if you cannot pay, the pledge of the car is executed in the pledge and the personnel must be responded with the heritage.It is also key to highlight that, in the pledge, the vehicle cannot be sold until the credit is paid.

"When choosing, it always depends on the client in particular. For the impatient who wants the vehicle already, the best option is the pledge," says Claudio Peralta, commercial manager of the Bank of Services and Transactions (BST), which bought theBanco Cetelem, in an operation that still expects approval from the Central Bank (BCRA) to specify.

"Personal loan rates are more expensive, they are not usually less than 42 percent, while with a pledge you are at least 4 points below," adds Peralta, who recommends "looking with magnifying glass" and advising themselves.In general, slogan, in the industry you can find appropriates ranging from 38 percent of CFT to a roof that is around 62 percent.

Thus, according to the transparency regime of the Central Bank, who chooses to access a loan type to fixed rate of $ 21,000 to pay in 36 months must pay, depending on the bank that is chosen, a average total financial cost of between 40 and78 percent.

That is, of the $ 21,000, they will be paid, if the highest rate (78.44 percent), a total of $ 37,472, is taken into account, that is, $ 16,472 of interest.Similarly, sources from the sector advise, it is best to find out the various options, since each bank is a separate world.

Another is the case of personal loans.For example, a three -year credit, up to $ 75,000, at the Nation Bank, with a combined rate, has an annual nominal rate (TNA) of 24.5 percent and an annual effective rate (ASD) of 30.45percent.Then, from a requested loan of $ 50,000, the total interest will correspond to $ 58,595, with a total to be paid of $ 108,595.

Thus, in the case of acquiring a Trend goal, whose market value is around $ 100,000, if this loan is requested, a car and a half will end when the purchase is finalized.

Another case is the French bank, which offers personal credits up to $ 200,000 at a fixed rate.With a 34 percent TNA and an ASD of 39.8 percent, if $ 50,000 is requested, the interest will be around $ 64,000 and will end up paying $ 114,310 at the age of three years.

In other entities, such as Santander Río and El Macro, the TEA is around 45 percent.

Another option is to finance with the concessionaire."The rate is a little more expensive than that of the bank, but those who choose it usually prefer it for two reasons: or by closeness or because the bank rejected them," says González, of Tito González.There they finance credits with a monthly rate of 2 percent for 12 months, 2.5 percent in 24 months and 3 percent in 36 months.

Leasing is a financial tool that is usually used by companies when acquiring capital goods and is also an option to get a zero kilometer."In its essence it is long -term financing (two to five years) and has tax advantages," says Gabriela Tolchinsky, manager of The Capita Corporation, the Comafi Bank Leasing company, who adds: "Interest rates areVery variable. Lately, at the market level, they are between 27 and 30 percent. "

Among the advantages, he points out: minimizes the output of cash flow;finance in the long term;It allows to acquire productive goods and pay the fee as they are used;The granting is agile;It has tax benefits.

The tax advantages are the deduction of the complete fee for the income tax, the payment of VAT is month to month and that the good does not appear in the assembly of the policyholder, in the case of natural persons.

For example, in Car One, through the Supervielle Bank, they also offer this service."The operation is like this: the client consults the seller, who gives him a price and documentation requirements. If the procedure is approved by the bank, the client signs the contract, sends the purchase order and we invoice the unit"Nadia Fridel, Car One's financing analyst, offers a leasing at variable rate (corrected badlar + 11 percent) in 36 months.

However, financing options abound in the local square and is one of the roads to reach one million units.You just have to choose the most convenient.