The cases multiply. The magnifying glass poses with distrust on what, for many, is a financial alternative to access zero kilometers: savings plans. From different geographical points of the local market, cases arise that feed the questions. In Córdoba, the Civil, Commercial, Conciliation and Family Court of First Nomination of Jesús María sentenced a concessionaire, the company that administered the savings plans and the automotive terminal, jointly and severally, to pay a client $400,000, plus interest, as punitive damages. In the trial, the administrator of the auto plans was criticized for not having duly informed how those situations that altered the country’s economy in recent years were transferred to the price of the vehicle and the monthly payment.
In Río Negro, more precisely in the city of Viedma, a civil judgment ordered compensation with the value of one zero kilometer to a user who brought a lawsuit against a car company and a savings plan company, due to the “lack of information before the suspicion that the plan fees were set using as a reference a value of the car greater than that of the same vehicle in the traditional purchase system at a dealership”.
Numbers. The 16,034 garments registered in October registered a drop of 19.2% compared to September, a decrease that is attributed to the behavior of the automotive market, since the registrations for the month contracted 7.9%, according to a survey by SIOMAA (Online System of Statistics and Market of TO FACE).
It should be noted that the 66.0% of the garments were issued on 0Km vehicles, representing 32.6% of the patentings, while the rest were issued on used vehicles. reaching 4.6% of all transfers. During October, 10,576 garments were registered, a figure very close to that of the same month last year (+0.8%) and somewhat less than that of last September (-15.7%). The share of total transfers fell to 32.6% and was below the annual average of 36.5%. Savings plans accounted for 55.4% of operations during the first ten months of the year, according to SIOMAA.
The vehicle savings plan market is a phenomenon seen almost exclusively in Argentina, with approximately 30% of the total market patenting. We see that countries like Colombia have similar schemes, but still with a residual participation,” he explains. Paul Tengeneral manager of Rhombus Plan. At the same time, James MatthewDirector of Savings Plan stellantis argentinaconsiders that “the system is an investment and capitalization opportunity that safeguards savings by paying a monthly fee that represents a percentage of the car in which it is capitalized.”
“For this year we project a total car market of approximately 380,000 units, within which approximately 103,000 registrations are estimated from the savings plan channel, which represents 27% of the total.”, says Diez. Talking about stellantis, in recent years its brands registered an increase in the weight of license plates through this channel and this year we are achieving that more than 40% of the licensed vehicles correspond to customers who reached their 0km through the savings plan. “This system gives the possibility of having the first 0km to many people who perhaps by other means could notclients who cannot access bank financing either because of the value of their installments due to high interest rates or because they do not have an initial capital”, adds Mateo.
projections. Despite the fact that it is estimated that 2022 will have approximately 344,000 subscriptions (representing a 6% drop compared to 2021), Diez highlights that “In recent years we have seen a growth in patenting from the savings plan (25% in 2020 up to 30% projected for 2022). Also, the relationship between licensed cars and sold subscriptions has been growing from 0.7 subscription per licensed car in 2019 to 1.03 subscription per car in 2021”.
Renault’s historic “Plan Rombo” has 88% of subscription sales focused on national production, “with the best market coverage from a wide range of products based on 6 models originating from the Santa Isabel Factory , which make up each of the segments with the greatest weight in the market,” says Diez.
However, Mateo assures that the four Stellantis brands that offer the savings plan (Fiat Plan/Jeep Plan/Peugeot Plan/Citroën Plan) “are not oblivious to the current problems of transparency and quality related to this system.” “That is why this year we worked with a focus on said problem and the ‘Pacto Claro’ tool was launched with the aim of providing greater clarity at the time of subscription. It is a formal document issued by the dealer when signing up, in which the client finds an easy and simple way to understand the most relevant information of the savings plan”, Mateo emphasizes.
Why do they grow despite everything? For company executives, the savings plan has its advantages: financing of 100% of the value of the 0km and in the long term (between 7 and 10 years); possibility of financing up to 120 or 84 installments and avoiding high bank interest rates. Advantages of savings plans to reach the dream of the new car. A dream that, in some cases, can be reduced to a nightmare.
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by Marcelo Alfano
