With the fall in interest rates, sales of financed cars have the best result for the beginning of the year since 2012 | National Newspaper

With the fall in interest rates, sales of financed cars have the best result for a start of the year since 2012

The sale of financed cars had the busiest start to the year since 2012.

Self-employed João Marcelino da Silva tested the car and was able to see the opportunity. Since 2023, he has wanted to buy another vehicle for the family, but has only now found financing that fits his budget.

“Due to the interest rates. So, we end up being motivated to invest in a car. Especially on a pre-owned car. It gives us better conditions to purchase at the moment,” she says.

The interest rate that João is keeping an eye on has fallen. This means that financing is cheaper. A vehicle worth R$60,000 financed over 36 months, in 2023, would ultimately cost R$86,797.78. In 2024, this same financing would be R$84,063.99 – R$2,750 less.

In January and February, just over 1 million of vehicles throughout Brazil. It is the highest volume since 2012, and the progressive fall in interest rates was the main factor for this optimistic start to the year.

The planning manager at B3, the Brazilian Stock Exchange, says that the stability of default rates helped.

“When we compare the first months of 2023, we actually see a more positive moment now in 2024. Largely because of these macro economic indicators”, says Gustavo de Oliveira Ferro.

The number of financing for pre-owned cars was much higher than that for new cars: more than double.

At a used vehicle store, financing grew 20% in the first two months of 2024.

“The movement has been very heated. Sales have increased and we have managed to achieve much better results”, says businessman Tailon Ribeiro.

In a pre-owned shopping mall in the North Zone of Rio, many customers are looking for economical cars to work in and facilities to pay.

“They are definitely cars for applications. This has gone up a lot, considerably, which is what most customers are looking for, especially in approval without down payment, which is that approval where you don’t need to give any down payment when purchasing the car”, says businessman Gabriel Peixoto.

“If it continues like this, many other people will also be able to acquire in the same way, and also realize their dream. This is our expectation, that everyone can make their dream come true”, says self-employed João Marcelino da Silva.