last hours to buy in installments with a 3 month grace period and start paying in July

Buy a product with a credit card today, start paying July and only pay the last installment in June or December from 2022. All without interest or with reduced financial costs. This opportunity, now included in the Now 12 official plan, is about to end.

But those with pending purchases, if they hurry, can still access the three months of grace to finance them in 12 or 18 payments in the main areas of sustainable consumption (from electronics and furniture to clothing, shoes and much more).

This unprecedented stimulus to consumption had added to Now 12 last October to support the economic recovery and help the sectors hardest hit by the quarantine.

And at the end of the year it was extended until March, 31st. In other words, until this Wednesday. But from this Thursday, April 1, the story will be different.

The Argentine Chamber of Commerce (CAC) and the Argentine Chamber of Medium Enterprises (CAME) asked the Minister of Productive Development, Matías Kulfas, that Now 12 continue same conditions.

They even called for a return to the mobile phone program, which had been discontinued. But on the other side, the financial sector insisted that cannot continue to support the benefit as it is, because of the high financial cost of the grace period.

And also because this financing is granted with rates around the 20% per year, well below the market and expected inflation (from the 45%). Many companies, in fact, today decide to absorb this interest and offer the fees at no extra charge.

What will happen at the end? At the Ministry of Productive Development, they are still refining the details of the announcement, which would be made on the same Wednesday. But from the wallet confirmed a Bugle that something is certain: the new stage will not include the three months please.

The possibility of extending them has already been ruled out, according to official sources. In recent days, it has been speculated that they might also increase rates and with which several elements could be left out, but there is still no certainty.

Consumer falling asleep …

Anyway, for people the relevant thing is that if you buy until 11:59 p.m. Wednesday can still be funded for 12 or 18 months (or 15 or 21 months, with the end of grace) under conditions much more advantageous than those who will reign later.

This is why many stores have been launched special offers with the classic “now or never” as a hook. “Buy today and pay the first installment in 90 days, last days!“, read for example this Monday on the site of Garbarino.

Here’s everything you need to know to reap the edge before it makes history.

Which purchases does the benefit of the three-month grace period apply to?

In all those that take place until this Wednesday as part of the official plans Now 12 and Now 18. In these cases, as the fees will not have an impact until the end of June, the first installment should arrive with the July summary.

What can you buy in 12 or 18 installments with a three month grace period?

The advantage governs in the member companies articles which in the current stage They offer financing with Now 12 and / or Now 18. The main categories are:

1) Devices (12 and 18 installments). Applies to little ones (like electric kettles, blenders and toasters, among others) and those of White line (such as air conditioners, washing machines, stoves, ovens, radiators, water heaters and refrigerators).

2) Electronics and IT (12 and 18 installments). It is used to acquire computers, laptops, tablets and all models of televisions. But not cell phones.

3) Dress (12 and 18 installments). For clothing for men, women and children, including work clothes, sportswear, everyday wear and all kinds of clothing accessories.

4) Shoes and leather goods (12 and 18 installments). It applies to all types of shoes and sneakers – sports or not – as well as handbags, suitcases, handbags and specialties in leather and other materials.

5) Mattresses, box springs and furnishings (12 and 18 installments).

6) Toys and board games (12 and 18 installments). Only for those of national manufacture.

7) Building materials and tools (12 and 18 installments). It includes sand, cement, lime, plaster, bricks, iron, sheet metal, openings, ceramics, toilets, faucets, tiles, paint, glass, parquet floors and tools for work, among others.

8) Machines and tools (12 and 18 installments). To buy drills, grinders, sanders, polishers, saws, welders and vices.

9) Motorcycles and bicycles (12 and 18 installments). In the case of bicycles, it also includes their parts and parts. And for motorcycles, this applies to those up to $ 250,000.

ten) Tires, accessories and spare parts for cars and motorcycles (12 and 18 installments). The benefit also applies to the purchase of kits to convert vehicles to CNG.

11) Musical instruments (12 and 18 installments).

12) Glasses and contact lenses (12 installments). For those prescribed and purchased from opticians, the final price of which does not exceed $ 10,000.

13) Perfumery (12 and 18 installments). For cosmetics, personal care and national fragrances.

14) Gyms (12 and 18 installments).

15) Books (12 and 18 installments). For school texts and nationally printed books.

16) Domestic tourism (12 and 18 installments). It applies to bus and plane tickets, accommodation, agency packages, vehicle rental, excursions and leisure activities. Spas are also included, up to 12 installments.

Is there a procedure to activate the grace period?

No. The advantage is applied in a automatic. Although the purchase is seen in the recap for the following month, it only impacts 90 days in the settlement payable.

During the three month grace period, does the purchase affect available credit?

Yes. The consumption made, even if it begins to be paid after 90 days, will decrease from day 1 the amount remaining to make new purchases in installments.

With whom, with this type of transaction, the credit capacity it will take a little longer than usual to recover, unless the bank agrees to raise the ceiling.

Can the official program fees be extra?

Yes. Although sometimes the company absorbs the finance cost (or adds it to the list price) to offer 12 or 18 “interest-free” payments, in other cases it charges a surcharge that increase total value financed by the product (that is, the amount on which the down payments are calculated).

Do the Now 3 and Now 6 plans also have a grace period?

No. In all the elements included, transactions in 3 and 6 installments are treated in the same way as any purchase by credit card: the first installment is paid with the summary of the following month.

MG