Brazil expands Move Brasil loans to used electric and hybrid cars

The federal Move Brasil program offers ride‑hailing and taxi drivers in Brazil financing of up to R$150,000 for electric, hybrid or flex‑fuel vehicles produced from 2024. Loans carry interest rates of 0.91% per month for women and 0.99% for men, can be repaid over 72 months with a six‑month grace period, and are limited to one vehicle per beneficiary. Simulations show a driver could pay around R$1,900‑R$2,000 a month, saving roughly R$40,000‑R$65,000 compared with conventional credit.

A provisional measure (MP 1.376/2026) was added to allow the same financing terms for seminovo (used) electric and hybrid flex vehicles produced from 2024, broadening options beyond brand‑new cars. The amendment does not change the program’s target audience, which remains private‑pay transport drivers. Early demand was strong, with BYD reporting service to over 14,500 drivers and Geely seeing similar interest, prompting the government to widen eligibility to the used‑vehicle market.