Simple Installment: all the keys to the plan to purchase in 3 and 6 installments

The Government has regulated the Cuota Simple program, which replaces the Now 12 and which will come into force from February 1st. The details refer not only to the conditions of the loan, which are 3 and 6 fixed installments by credit card, but it will have a subsidized rate, national scope and will generally last until May 31st.

With resolution 50/2204 of the Ministry of Commerce, published in the Official Journal, it approved “the Single Regulation of the Program for the promotion of consumption and production of goods and services, called “SIMPLE QUOTE”.

With this program consumers will be able to make their purchases virtual or physical, in fixed installments, and will have more than 30 product categories of national production which can be accessed with a TNA that represents 85% of the fixed duration of the Central Bank (110% TNA). If it stays that way it will represent a TNA of 93.5%.

The agreement concluded last Friday, according to Clarín, involved members of the Ministry of Commerce, the Central Bank, banking institutions and representatives of the retail trade, including representatives of the Argentine Confederation of Medium-Sized Enterprises (CAME) and the Argentine Chamber of Commerce (CAC).

The measure aims to “promote economic development, encouraging productive investments and the demand for goods and services through the granting of payment facilities in fixed installments”.

According to data collected by the consultancy firm Ecolatina, Now 12 installment purchases represent between 20% and 25% of credit card consumption, and hence the importance of reactivating this program. According to consultation specialists, yes in 3 and 6 installments responds to consumer preferences for shorter financing terms.

Hernán Lechter, an economist at CEPA, warned that although the program has an attractive rate, “the risk is that the list price will effectively be split with the cash price” and the list price will be increased to compensate for the financing

Simple Installment: which products can be purchased in 3 and 6 installments

• white line: air conditioners, air conditioners and/or ventilation, dishwashers, washing machines and dryers, ranges, ovens and stoves, stoves and stoves, hot water tanks and water heaters, refrigerators, freezers and freezers.

• Dress: clothing for men, women and children (includes work, sports, daily wear and all kinds of clothing accessories), as well as jewelry and watches.

• Footwear and Leather Goods: sports and non-sports shoes, wallets, suitcases, handbags and leather goods made of leather and other materials.

• Mobile phone with 4G technology.

• Furniture: all the furniture in the house.

• Bikes. It includes all types of bicycles, including electric bicycles, their parts and/or pieces.

• Motorcycles: includes all those whose final price does not exceed $1,300,000.

• Educational services: Language courses, IT-related courses, sporting and cultural activities. Does not include schools or universities.

• Mattresses and box springs.

• Books: school texts and books.

• Glasses and contact lenses: eyeglasses whose final price does not exceed 97,000 dollars.

• Library items: notebooks, stationery, pencils, pens, backpacks, pencil cases, labels, among others.

• Toys and board games

• Technical services for electronics and household appliances for home.

• Tires: accessories, conversion kits for methane gas vehicles and spare parts for cars and motorbikes.

• Musical instruments.

• Computers, Notebooks and Tablets

• Lighting artifacts

• Televisions and monitors.

• Perfumery: cosmetics, personal care products and perfumes.

• Small appliances.

• Sports training servicesincluding gyms.

• Medical equipment: Respiratory therapy equipment; furnishings (orthopedic beds, bathroom aids: bath chairs, transfer chairs, grab bars); Wheelchair; Orthotics, orthopedics and their parts (Prosthetics for amputees, custom-made valves, custom-made orthoses, insoles, custom-made corsets, walkers, canes, crutches). Item limit of $1,160,000.

• Machinery and tools: Drills, angle grinders, sanders, polishers, saws, coated electrode welders, TIG system welders, MIG-MAG system welders and vices.

• Shows and cultural events. Shows and concerts by national artists and a limit of $ 62,000 is established.

• Durable kitchen items: Pots, saucepans, pans and grills, all in aluminium.

• Automotive vehicle and motorcycle repair services.

• Home connection kit to public water and sewerage services.

Simple Tariff: how to identify participating companies

The commercial activities that join Cuota Simple will be identified with the program logo, as already happened with Ahora 12. Businesses that qualify as supermarkets, hypermarkets or general stores will be able to join.

By Marcela Marín

SN