Banco Nación, through its platforms Mobile Nation and the BNA+ Store, provides a unique opportunity for individuals interested in acquiring new vehicles. This personal loan service allows for financing up to 100% of the vehicle’s sale price, including accessories when applicable, with a maximum limit of $25,000,000.
How to Begin the Application
To apply for this loan, interested individuals can visit the exclusive area of BNA Mobile at the BNA+ Store, where they can select their preferred vehicle, request the loan, find out the available amount immediately, and reserve the vehicle. Afterwards, they need to visit the selected branch, coordinate with the seller on the necessary steps, and finally pick up the vehicle.
The process can also be initiated by filling out a form available on the platform. This loan is subject to the approval conditions of Banco Nación and is part of its Consumer Portfolio.
Loan Features
- Eligible Users: Individuals who meet the requirements to enter into a contract.
- Purpose: The loan is designated for the acquisition of brand new vehicles, including motorcycles, scooters, and electric bicycles, among others. It is also possible to finance the purchase of accessories like clothing and helmets, as long as they are bought with the vehicle.
- Currency: Argentine pesos.
- Term and Amortization: The loan term is a single 36-month period, with repayment in equal and consecutive monthly installments, calculated using the French system, with no grace period.
Interest Rate and Financial Cost
The interest rate varies depending on the client’s situation:
For clients who receive their retirement payments at the Bank, or who agree to have the loan installment debited from a Credit Card issued by Banco Nación:
- Fixed Annual Nominal Rate (ANR) of 37%.
- Annual Effective Rate (AER) of 43.97%.
- Total Financial Cost (CFT) expressed in TNA of 47.77% and in TEA of 55.21%.
For clients with an open portfolio who do not agree to debit the installment from a Credit Card issued by Banco Nación:
- Fixed Annual Nominal Rate (ANR) of 87%.
- Annual Effective Rate (AER) of 131.62%.
- Total Financial Cost (CFT) expressed in TNA of 105.28% and in TEA of 174.33%.
Requirements and Conditions
Income Impact:
- For clients who receive salaries or pensions from the Bank: up to 35% of net income.
- For clients who do not receive their salaries or pensions from the Bank: up to 30% of net income.
- Maintenance Fees: No charge for the savings account.
- Vehicle Insurance: Insurance will be offered through Nación Seguros, but acceptance is not mandatory.
- Guarantees: By signature only, with the signing of a promissory note in favor of the Bank for the full amount of the agreed credit.
The Banco Nación, through its platform Mobile Nation and the BNA+ Store, offers a unique opportunity for those interested in acquiring 0 km vehicles. This personal loan service allows financing up to 100% of the vehicle’s sales value, including accessories where applicable, with a maximum limit of $25,000,000.
How to Start the Application
To access this loan, interested parties can visit the exclusive space of BNA Mobile at the BNA+ Store, where they can select the vehicle of their choice, request the loan, find out the amount available immediately, and reserve the vehicle. They must then go to the chosen branch, coordinate with the seller the steps to follow, and finally, pick up the vehicle. The process can also be started by completing a form available on the platform. This loan is subject to the approval conditions of Banco Nación and is part of its Consumer Portfolio.
Loan Features
- Eligible Users: Natural persons who meet the requirements to be contractually bound.
- Purpose: The loan is intended for the acquisition of brand new vehicles, such as motorcycles, scooters, and electric bicycles, among others. It is also possible to finance the purchase of accessories, such as clothing and helmets, provided they are purchased together with the vehicle.
- Currency: Argentine pesos.
- Term and Amortization: The term is a single 36-month period, with amortization in equal and consecutive monthly installments, calculated using the French system, with no grace period.
Interest Rate and Financial Cost
The interest rate varies depending on the client’s situation:
For customers who have the retirements at the Bank or adhere to the debit of the loan installment on a Credit Card issued by Banco Nación:
- Fixed Annual Nominal Rate (ANR): 37%
- Annual Effective Rate (AER): 43.97%
- Total Financial Cost (CFT) expressed in TNA: 47.77% and in TEA: 55.21%
For open portfolio clients who do not agree to debit the installment from a Credit Card issued by Banco Nación:
- Fixed Annual Nominal Rate (ANR): 87%
- Annual Effective Rate (AER): 131.62%
- Total Financial Cost (CFT) expressed in TNA: 105.28% and in TEA: 174.33%
Requirements and Conditions
Income Impact:
- For clients who receive salaries or pensions in the Banco: up to 35% of net income.
- For clients who do not receive their salaries or pensions from the Bank: up to 30% of net income.
- Maintenance fees: No charge for the savings account.
- Vehicle insurance: Insurance will be offered through Nación Seguros, but acceptance is not mandatory.
- Guarantees: By signature only, with the signing of a promissory note in favor of the Bank for the total amount of the agreed credit.
Benefits of Banco Nación Financing for Vehicle Purchases
- Comprehensive Financing: Offers up to 100% financing, making it easier for customers to acquire new vehicles without worrying about upfront costs.
- Quick Process: The application process is streamlined through the BNA Mobile app, providing immediate access to loan amounts and vehicle reservations.
- Flexible Terms: A 36-month repayment period allows for manageable monthly payments, enhancing financial planning.
- Wide Selection: Customers can choose from various brand-new vehicles and accessories tailored to their needs.
- Supportive Customer Service: Banco Nación provides personalized support through its branches to guide customers at every step of the purchase process.
Practical Tips for Applying for a Loan
- Gather Personal Documentation: Ensure you have necessary documents like IDs, income statements, and proof of residence ready for a smooth application process.
- Assess Your Budget: Determine how much you can afford to repay monthly to select the right vehicle within your financial limits.
- Check Current Offers: Look for promotions or special rates through Banco Nación to maximize your savings.
- Pre-approval Request: If possible, seek pre-approval for your loan to streamline your vehicle purchase process.
- Stay Informed on Terms: Understand all terms and conditions of the loan, including interest rates and potential fees, to prevent misunderstandings.
Real-Life Experience: Customer Testimonials
Many customers have shared their positive experiences with Banco Nación’s vehicle financing:
- Maria R.: “The process was quick and easy! I got my new motorcycle in less than a week thanks to the efficient staff at Banco Nación.”
- Fernando G.: “I was able to get 100% financing for my electric scooter, which is a great deal! The interest rates were reasonable too.”
- Clara L.: “I appreciated the support I received during the application. The team answered all my questions and made the process stress-free.”
Frequently Asked Questions
What types of vehicles can I finance?
You can finance brand new motorcycles, scooters, electric bicycles, and other vehicle types, including related accessories purchased at the same time.
What is the maximum amount I can borrow?
You can borrow up to $25,000,000, covering the full sales value of the vehicle and applicable accessories.
How long will it take for my loan to be approved?
The approval process can vary, but many customers have reported receiving confirmation within a short timeframe once all documentation is submitted.
Can I finance used vehicles?
No, this financing option is only available for brand new vehicles.
