Brazil's Move Brasil program expands to include used cars for rideshare drivers

The federal government amended the Move Brasil programme through a new provisional measure, allowing rides‑hare drivers, taxicab drivers and cooperatives to finance used (seminovo) vehicles. Eligible cars must be electric, hybrid or flex‑fuel, manufactured from 2024 onward and priced at no more than R$150,000, the same ceiling applied to new‑car financing.

The credit line remains capped at R$30 billion and is offered through the BNDES with indirect funding by accredited banks. Interest rates are 0.91 % per month for women and 0.99 % per month for men (approximately 11.5 %‑12.6 % per year). Loans can be repaid over up to 72 months with a six‑month grace period and may include insurance, loan‑protective coverage and safety equipment, especially for female drivers.

The amendment aims to modernise the fleet, lower emissions and broaden access to credit for drivers who cannot afford a brand‑new vehicle. A list of qualifying models from manufacturers such as BYD, Chevrolet, Volkswagen, Fiat, Honda, Hyundai, Renault, Jeep, Nissan, Toyota, Peugeot, Citroën, Geely and GWM has been published. The programme also covers financing for trucks, buses and related equipment, bringing the total Move Brasil resources to roughly R$21.2 billion for those vehicle types.