The Banco Nación has launched a new car loan program called +Autos, aimed at boosting the sale of both new and used vehicles. The program is entirely digital, simplifying the process for buyers. The loan application is submitted directly at a partnered dealership, and the applicant's verification and approval are handled through their mobile phone. This allows for loan approval in just a few minutes, significantly speeding up the vehicle purchase. The credit is available for new cars (0 km) and used cars up to 10 years old, including cars, utilities, and pickups, both domestically produced and imported. The maximum loan amount is up to 100 million Argentine pesos, with a repayment term of up to 72 months. You can finance up to 100% of the vehicle's value, including VAT. The fixed nominal annual rate (TNA) is 50%, the effective annual rate (TEA) is 63.21%, and the estimated total financing cost (CFT) is 80.44%. One of the main advantages is that the loan is granted "with a single signature", without the need for a collateral pledge or promissory note. To be eligible, applicants must be over 18 years old, be creditworthy, and present only their national ID (DNI). It is not necessary to be a bank customer; new users can register on the BNA+ app and open an account. The loan is exclusively for individuals, not for legal entities. This initiative aims to offer a fast and competitive alternative to traditional financing, especially at a time when private financing is becoming increasingly limited and expensive.
