Brazil expands Move Brasil credit limits for app drivers and taxi cooperatives

The National Monetary Council (CMN) has approved new regulations for the Move Brasil program, significantly expanding credit access for app drivers, taxi drivers, and transport cooperatives. The updated rules increase the maximum vehicle financing limit from R$ 150,000 to R$ 200,000 and extend the maximum repayment term from 72 to 84 months. A grace period of up to six months for principal payments remains in effect.

These changes aim to increase the variety of available vehicle models and stimulate competition among manufacturers. According to government data, the previous price cap covered approximately 63% of the analyzed market; the new R$ 200,000 limit expands this coverage to roughly 88%, adding approximately 486,000 eligible units.

Additionally, a joint commission has approved a bill to allocate up to R$ 30 billion toward urban transport financing. This measure includes provisions for school transport, accessibility, and the battery industry. While the expansion of the repayment term may reduce monthly installments, it could also increase the total cost of the financing depending on interest rates.