Currently, in Mercado Libre you can find more than 48,000 used vehicles between cars and trucks and more than 15,000 used motorcycles, which apply for this type of purchase. And it should be noted that 8 out of 10 potential car buyers consult online. Of those, more than half do so in the Argentine “unicorn”.
“We wanted to help people finance their first car,” David Gentile explained to ÁmbitoManager of Indirect Channels of Galicia Bank. The credits will be signed only, with a fixed rate and a maximum of 72 installments. Anyone who meets the requirements can access it, even if they are not a customer of the bank.
“Adding these financing options together with Galicia is a very significant step in our goal of democratizing trade and finance through technology. We hope that this initiative will allow new users who previously could not access the purchase of a car or motorcycle, to do so for the first time; and that for those who are already in the market, we believe that the credit will facilitate the possibility of changing the current model.” For his part, Tomás Pereyro, head of Mercado Libre’s vehicle classifieds business unit, assured.
A recent study of Free market explains the reason for the progress in this strategic alliance with Banco Galicia.
The used or semi-new vehicles published by direct owners are 48,000 cars and vans, and 19,000 motorcycles, representing 34% and 49% of the total offer (which includes 0Km and used vehicles sold by dealers).
The used cars that receive the most visits are the Volkswagen Gol and the Toyota Corolla with average prices of 850 thousand and 2.8 million pesos, respectively. The used trucks that receive the most visits are the Toyota Hilux and Ford Ranger with average prices of between 4 and 5.5 million pesos, respectively. Given that the credit offered reaches up to 5 million pesos, it can be said that it covers a good portion of the market completely or almost completely.
Source: Ambito
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