Car: credit is very long-term marketing and reaches few consumers
This article was translated by an automatic translation system, and was therefore not reviewed by people.
SAO PAULO - The former president of Acrefi (National Association of Credit Institutions, Investment and Finance), Érico Sodré, said the long lead in financing vehicles are just "marketing" of whom the loan.
"It's more to fuss, because few customers will have access to it," he said, during the II Forum of Risk and Rewards, conducted by Witrisk.
According to him, after hitting a long period before the crisis of the economy, financing of vehicles had reduced the average time in nearly a month, which is already being taken.
Cars
He explained that as only one spoke in crisis, consumers retreated in buying cars. "What constrains consumer is not the interest rate, but the fear of job loss," he said.
And that removal of the client was accentuated by the devaluation of the well, since many people use the car used to acquire the new. With the value of used less, you had to pay more for the return of the vehicle. It was at this point, according to Sodré, the government was wrong, since that did not give due attention to the used car market.
Nevertheless, Sodre said the Central Bank's actions during the crisis was of "fundamental importance, especially in the car market", that we are not experiencing major problems.
Default
Regarding default rates in that market, he presented data that showed that $ 5 billion left to be in days to buy a car because of the funding crisis. Furthermore, an increase of 44% in the delay between 31 and 90 days.
"We have this bubble that was created on a positive scenario in the last five years, people thought that would be perpetuated. There was exaggeration of financial institutions in the quest for market share. They began to take measures that were not in the best interests of prudence but it has begun to recover. The curve of the high default rate is already over, "he said.
Source: Infomoney
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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