Frequently Asked Questions
The Savings Plan is a system through which a certain group of people makes a monthly contribution to a common fund for the purchase of goods (in our case, motor vehicles), which will be awarded during the period of validity of the plan through raffle and tender according to the availability of funds of the group, being the most employed ones those of 84 and 120 months.
The InspecciÃ³n General de Justicia (IGJ) controls the compliance with the established requirements.
Fill in and sign in any car dealer that belongs to the official network of Automotive Terminals, an application of adhesion with its corresponding appendixes and pay for the first monthly instalment.
In the case of Natural Persons, they must be at least 18 years of age, or minors who are emancipated and meet the minimum age required by each Administrator (according to the life insurance coverage) at the moment of the subscription.
In the case of Legal Persons, they must show the supporting corporate documentation and certify legal status.
Yes, always through the website of each Administrator, where all the safety to carry out the transaction will be provided.
With the double of adherents to the number of instalments of a plan (for example, for a plan of 84 instalments, 168 adherents, for a plan of 120 instalments, 240 adherents).
It is the official price of the vehicle object of the plan, in cash, final and with taxes, suggested for the sale to the public by each Automotive Terminal.
It is the resulting amount after diving the Current Value applicable at the moment of the payment by the number of months of the duration of the plan.
In a Reduced Instalment plan the instalment is calculated on a percentage of the price of the vehicle. We can find different reduced instalments plans (for example 80/20 or 70/30), according to the alternative that each Administrator commercializes.
As an example, in a 70/30 Plan, the Pure Fee is calculated by following the scheme: the 70% of the Current Value to be paid in instalments is divided by the number of months of the duration of the plan.
The remaining 30% will be paid at the moment of the award and it will complete the total Current Value of the motor vehicle. This percentage is called Complementary Aliquot.
They are plans in which a percentage of the pure fee is deferred during a certain period. It must be taken into account that the deferred percentages have to be subsequently recovered by the group to the current value at the time of their payment.
This means that in some months the adherent cancels a smaller part of the vehicle to, subsequently, face the initial deferment.
These plans are many and different depending on the current legislation or each of the administrators; that is the reason why it is convenient to be appropriately informed by the Car Dealer or Official Agent and ask for their development to know on what instalment what has been previously differed starts to be recovered.
The instalments are adjusted based on the price of the current value (price for the public suggested by the Automotive Terminal). That is to say, if there was a decrease in the monthly price list of the price suggested by the Automotive Terminal for the motor vehicle object of the plan (Current Value), the pure fee would decrease in the same proportion, and if there was an increase, it would increase in the same proportion.
All the instalments are invoiced in argentinian pesos.
It is the amount that the applicant must pay for the presentation of the Adherence Application, corresponding to a percentage of the current price of the motor vehicle at the moment of pay. The payment for that amount can be prorated. For more information, consult the General Conditions of the Adhesion Application of each Administrator.
It is the amount that is paid for the award of the motor vehicle and it is calculated based on the current price of the vehicle at the moment of pay for this concept. For further information, consult the General Conditions of the Adhesion Application of each Administrator.
It is the amount that is paid monthly for the administration of the system within each group. For more information, consult the General Conditions of the Adhesion Application of each Administrator.
With the exception of the first instalment of the plan, the car dealers and official agents are not authorized to charge monthly, anticipated or bidding instalments.
These concepts must be cancelled through bank accounts and extra bank accounts that each administrator assigns.
For further details, consult each of their websites.
Each Administrator has different means to deliver the pay stubs to each Adherent.
On the website of each of them you will find the means of distribution.
Not receiving the pay stub does not imply the lack of knowledge of the due date and the payment of the instalments.
The awarding of the vehicles is carried out monthly through raffle and tender, according to the existing funds in each group.
The adherent will be able to visualize the day in which the awarding act will be carried out on the pay stub or on the each Administratorâs website.
A tender is an offer of anticipated cancelation of instalments that the saver makes to the Administrator. The one who offers more instalments will be the winner of the tender.
Each Administrator offers different alternatives to make the Tender Offer by filling in the respective form. Each modality can be consulted on each Administratorâs website.
In this case, the saver who is best positioned in the raffle of the Awarding Act corresponding to that month will be the winner.
All those Subscribers who keep the payments up to date can participate in the Act. The only way of awarding is through raffle of tender.
The number of units to award depends, mainly, on the raised funds in each group. Generally, two vehicles are awarded monthly, one through raffle and the other though tender. Nonetheless, if the group raises more funds, more units can be awarded.
The raffle is carried out with a drum, which can be manual or electronic, and inside which 168 balls are placed (plan of 84 instalments) or 240 balls (plan of 120 instalments), that is to say, the number of savers who make up a group.
Then, all the balls are taken out, establishing in this way an order. This order is the one that will determine the winners in each group.
All the procedure is audited by a Notary Public and the Administratorâs proxy. A representative of the InspecciÃ³n General de Justicia can also participate, guaranteeing total transparency.
The results are published monthly within the 24 business hours from the awarding act on each website. They can also be obtained by contacting the Customer Service Centre of each Administrator.
The Car Dealer where the Plan has been carried out will contact each Adherent to begin the administrative process for the request of the unit.
A change of model for another vehicle of each brand can be requested, as long as it is available, by consulting the Car Dealer or Official Agent at the moment of making the request for the unit.
The resulting difference for the selection of another model must be paid in cash in the bank accounts or extra bank accounts of the Administrator and the amount will be the one that corresponds to the payment date.
If there are still due instalments and according to the advancement of the Plan, documentation that endorses the possibility of continuing with the payment of the instalments will be required. If that is not enough, additional guarantors may be requested.
For the debt balance, a first-degree registered pledge must be signed in favour of the Administrator.
Consult in the Car Dealers and Official Agents of each brand the requirements that must be taken into account.
The complete and/or partial cancelation of the instalments does not imply the immediate award and/or handover of the vehicle since, the only ways to access it are through raffle and tender; that is why, it is not comparable with a cash purchase.
Therefore, it must be taken into account that the advancement of instalments can reduce the statistical probabilities of becoming a winner through tender in future award acts.
Furthermore, in the case of cancelling all the instalments in advance, the vehicle will only be awarded through raffle, revoking the possibility of tender.
Yes, the adherent will be able to assign their plan as long as the instalments are up to date. They
must go to a Car Dealer or Official Agent and fill in the assignment form.
Once the Administrator receives the form and it is accepted, the assignment will be completed.
The contracts can be assigned between people, according to a free price agreed by the parties.
Neither the Administrator nor the Car Dealers or Official Agents can charge for such procedure.
The purchaser acquires all the rights and obligations from the assigned contract.
Yes, it is possible to abandon a plan while having the status of saver. For that, an irrefutable communication must be sent to the Administrator informing the resignation to the savings plan, including the Group and Order and asking for the refund of the paid instalments to the date of the end of the contract.
The plans that are in saver condition (those that have not been awarded yet) are terminated automatically when there are 3 instalments that are past the due date and have not been paid.
It is obligatory to communicate the change of address, as well as any change in the email address.
If you wish to change the car dealer, this situation must also be informed.
Consult each Administratorâs webpage to get information about their modality.
The funds that belong to the savings of abandoned/terminated plans will be available when the contracts end according to the existing funds in the group.