The Secretary of Commerce approved the regulation of the new plan now 10 intended for the purchase of cell phones in ten fixed installments at a subsidized rate of 48%which comes into force from this Friday and will run until March 15, inclusive.
It did so through Resolution 142/2022 published this Friday in the Official bulletin.
Cell phones made their comeback -after two years- in subsidized installment plans in October, through the plan now 30which –if there is no extension- will end on Thursday of next week.
In this sense, the new program of 10 fixed installments will offer a nominal annual rate of the same rank as that of Ahora 30 (48% per year), which is almost half of the Annual Effective Rate (TEA) for the payment of credit card statements.
In turn, it is similar to the interest of the plans of 12 installments of now 12which have a rate of 45.06%.
The brands that will be part of Now 10 are Alcatel, Motorola, Samsung, Noblex, Philco, TCL and ZTE.
The voluntary agreement that will run until March 15, 2023 was announced last week by the Ministry of Economytogether with Commerce secretary.
“In this instance and in line with the public policies that the National State has been adopting in order to promote consumption and encourage sales in certain sectors of the market, it is considered pertinent to approve the Complementary Regulation Plan 10 Installments”, is indicated in the recitals of the Resolution.
? PRICE AND FINANCING AGREEMENT FOR CELL PHONES
We announce a maximum price agreement for cell phones for 90 days with a financing option in 10 fixed installments at a preferential rate (TNA 48%)
? https://t.co/t286996egH pic.twitter.com/zmxwplOxKB
– Secretary of Commerce (@ComercioArg) December 12, 2022
Who participates and what is the maximum value
The main cell phone manufacturing companies, public and private banks and household appliance chains participate in the initiative, comprising 72 cell phone models.
The devices – all nationally produced – can be purchased at more than 2,000 retail outlets in the country and on their online sites.
The values of the same -without interest- will not exceed $200,000 establishing a maximum coupon price cap –that is, including interest- of $255,000, as detailed in the regulation.
For broadcasters, suppliers and businesses, the same current adhesion and collection modality will be applied as the Ahora 12 program.
Businesses may choose to charge within a period of 60 calendar days with a maximum discount rate of 12.67%, or within ten business days with a maximum rate of 17.41%.
For his part, and like Now 12, Suppliers and businesses that do not use the signage of the program will be fined; or that offer goods that are not domestically produced or that are not included in the program.
In addition to the Ahora 10 plan, cell phones will be reincorporated into the 3, 6 and 12 installment plans of Ahora 12, although a date for their entry has not yet been specified.
LIVE | the minister @SergioMassa and the Secretary of Commerce @matiastombolini announce a maximum price agreement for cell phones for 90 days with financing in fixed installments.https://t.co/HNQ8bQoA7h
– Secretary of Commerce (@ComercioArg) December 12, 2022
