Banco Ciudad launches subsidized loans for electric and hybrid vehicles

Banco Ciudad has launched a new line of subsidized loans aimed at financing the purchase of new electric and plug-in hybrid vehicles. This initiative, supported by the Government of the City of Buenos Aires, is specifically designed for drivers using vehicles as taxis or private hire services (remises) to encourage sustainable transport in the capital.

The financing offers a maximum amount of up to $28,000,000, covering up to 70% of the vehicle's total value. The loans feature a fixed annual nominal rate (TNA) of 20% with a repayment term of up to 48 months.

This credit line complements existing fiscal incentives in Buenos Aires, where 100% electric vehicles enjoy a permanent exemption from patent taxes, while hybrid units are exempt for their first two years of circulation.