62 Fleet companies and transport companies in Brazil prefer to buy trucks and highway implements on credit. According to the most recent data collected by the National Association of Automakers’ Financial Companies (ANEF), in 2023 the share of purchases made on credit increased from 37% to 41%. Similarly, the Finame credit line increased from 29% to 31% of purchases. The share of cash payments fell from 29% to 23%. Finally, credit consortiums were stable, at 5%. Given this, the falls in the Selic base rate in recent months may suggest an encouraging scenario for credit in the heavy vehicle and equipment market. The Selic base rate may even reach its lowest point since 2022 soon. The president of ANEF, Paulo Noman, is optimistic about interest rate cuts. “Lower rates, a stable economy, and positive GDP make buyers feel more confident about finance.” Most popular credit lines - The most popular forms of finance – Finame and CDC - allow purchases to be spread over the long term. According to ANEF’s managing director, Valter José Viapiana, companies must choose the most appropriate. “This is crucial to ensuring operational efficiency and financial control,” he says. But the executive points out that CDC ease makes it the most popular option. The flexibility of CDC - One of the key features of CDC is flexibility. When it comes to choosing the type of truck and the highway implement, this makes the choice easier. Unlike other types of credit, CDC allows the payment plan to be customized according to the contractor’s needs. Another differentiator is speed in approval, especially compared with Finame, whose rules for checking the financial capacity of the interested party are more stringent. In addition, in CDC there are more flexible payment term options. According to Viapiana, this is why CDC is more common in promotions offered by banks. “The market is more focused on personalized finance alternatives. And this meets the specific needs of transport companies,” says Viapiana. Mercedes-Benz Bank says CDC is the most attractive form of financing for self-employed truck drivers. The bank offers Decreasing CDC for small and medium-sized transport companies. This reduces the cost of installments over time. Finame is a BNDES credit line for machinery and equipment. Viapiana says large transport companies usually opt for Finame Selic. “These are companies that can keep paying if the interest rate increases,” he explains. According to Viapiana, in 2024 both forms of credit will continue to be popular among Brazilian transport companies. “The choice will depend on what the customer needs,” he says. In addition, credit consortiums are also successful in the sector. However, these are better suited to those who can plan purchases of new trucks. The golden age of Finame - Finame has been through its prime in Brazil. Very low interest rates and payment terms as far as the eye can see have made this BNDES credit line the most widely used credit option in Brazil. Demand peaked in 2013, when 77% of the vehicles sold in the country were acquired through this type of financing. Demand for Finame began to drop in 2015. That year, BNDES increased the annual interest rate from 6% to 9.5% for operations carried out by large companies. For small and medium-sized For different budgets and managers Finame, Direct Consumer Credit (CDC), and credit consortiums are among the credit options when buying trucks and highway implements. The best option depends on the fleet owner and transport company profiles. CONSÓRCIO | CONSORTIUM | CONSORCIO
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