An alert published on the official website of the Association of Dealers of the Argentine Republic -ACARA- warns consumers regarding the illegal operations with savings plans, a widely used system to buy 0km but which in recent times has suffered some abuse.
According to the entity’s publication, it seeks to make it clear that they are not related to the sale of this type of product at dealerships, where they advertise this tool as an option to purchase cars.
The statement reads as follows: “Warning to users and consumers of savings plans: You are informed by this means that Acara, in our capacity as the Association of Automotive Dealers, does not have any type of intervention or participation in the preparation, sale, post-sale or commercialization of any type of Prior Savings Plan for the purchase of automotivemotorcycles, or similar, so that any propaganda and/or publicity that appears linking it with any proposal to consumers in relation to said plans, is False and Mendacious, this Institution being unaware of both its origin and its purpose, despite having implemented through the pertinent channels the investigation regarding their origin as well as the existence of a possible fraudulent maneuver.”
Then it adds: “Attention to this communication, which is made known to the public by this means, ACARA notifies that it disclaims all types of responsibility, which might be invoked in the future derived from the aforementioned advertisements and/or propaganda”.
Savings plan scams
The savings plan system gives rise to many contradictions, which is why, in recent times, some automotive companies have come out to explainr how the system works and warned users regarding hiring and points to consider.
One of the first to do so were the brands of the group Stellarwho launched the campaign Clear Pact, in which they explain each of the points that must be taken into account when making a plan. Among them, it is clarified that the quotas are not fixed, but are updated with the value of the car, one of the most controversial issues.
Acara warns regarding operations with Savings Plan.
In the campaign called Commandments they also warn so that do not share personal or financial information by phone, or messages on behalf of Fiat; Another warning is that you do not take out a savings plan in a non-official dealer or believe that there is a Central House or direct factory discounts.
“Our savings plans are marketed solely and exclusively in the official Fiat dealer network or online on our site (www.fiatplan.com.ar) Our only official website for online subscription is www.fiatplan.com.ar and We do not have other accounts or web addresses or social networks. Fiat Plan does not make calls or publications such as “National Plan”, “Headquarters” or “from the factory””, they explain.
It is also made clear that the plan can be withdrawn, but the money will be returned to you following the end of the time stipulated. “In the event that you cannot continue paying your installments and you have not yet removed the car, you can renounce the plan. The refund of your money will be made from installment 84, once the plan is finished, according to the Mobile Value ( value of the savings model) in force and making the corresponding deductions and deferred items not paid”.
The Nissan Warning
With the “Everything in Sight” campaign, Nissan clarifies all the details of this system. The objective is show transparency and trust with the Savings Plan, so that people do not get surprises in what they sign.
“3 years ago when we launched the Nissan Savings Plan, we detected that transparency was a good conceptual territory, very relevant for the audience, that we might not only support from the product, but also, that it coincided with our vision of the brand and the way we have to do things” said Tomás Castelli, Sales Director of Nissan Argentina.
Nissan also launched its campaign to prevent scams with savings plans.
With their proposal they clarify: “Anyone interested in purchasing a company vehicle will be able to obtain all the necessary information regarding the plan online and then, in person, purchase it at each of the 61 dealerships that Nissan has throughout the country,” explain in the company.
As for the models that can be purchased with a savings plan, there is the Nissan Versa, a small and comfortable sedan; the Kicks, one of the most successful SUVs; and the new Nissan Frontier, the brand’s Argentine pick-up. In the latter case, the additional benefit of guaranteed adjudication is offered in installments 8 and 15.
On the other hand, a fact to take into account and that Nissan explains, is the ease of calculating the months of payment at the time of taking the plan. “Only the financed amount must be divided, either 80% in the Nissan Versa and the new Nissan Frontier; or 70% in Nissan Kicks, for the time established according to each vehicle; 84 installments for the Nissan Kicks and the new Nissan Frontier, and 120 for the Nissan Versa”, they clarify in the company.
The bill in Congress
The Acara’s warning comes as Congress began to discuss changes in the regulations governing the savings plan system, which has many complaints.
Deputy Víctor Hugo Romero (UCR), proposed to move forward as of February with the discussion of a new rule that controls savings plans in Argentina, whose original wording dates back to 1943. “It is a very shady contract, difficult to understand, it has a logic from another era, from the ’50s,” Romero pointed out.
Among them, the companies that have the most complaints from consumers are Volkswagen (32%), Fiat Chrysler Automobiles (28%), Renault Plan Rombo (19%), Peugeot-Citroën (8%), Chevrolet (7.5 %) and Ford Plan Ovalo (3.6%).
0km sales with savings plan
According to ACARA, in November 18,160 garments were registered, of which 11,514 correspond to operations with 0km vehicles, while the remaining 6,646 were made on used vehicles.
With these figures, the Pledge loans market remains in the order of 34% of patents and 5% of used transfers. Added up, in November garments were issued for 11.3% of all operations with vehicles that were made in the month.
In the 11 months to date of the year, the pledge market accumulates almost 220,000 operations, 140,000 on new units and 79,000 on used ones. This figure is 13.4% higher than that of the same period in 2021 and significantly higher than the performance of the automotive market, which, as a whole, contracted 2.5% (+6.5% 0km and -4.6% used ).
Registrations of garments on new vehicles during November reached 11,514 units, which is equivalent to a positive variation of 8.9% compared to October and 6.7% compared to November 2021. Savings plans are the ones that attract the most in this segment, since they take 55.5% of the total garments, while the banks lose some ground compared to 2021.
