The authorities hope this programme’s beneficiaries to choose a car made in Romania.
For both producers and importers, the new governmental programme, ‘First car’, is expected to produce the desired effects in practice, as those pursued with the First Home programme. According to Prime Minister Victor Ponta, attending the opening of a new headquarters of the Romanian Auto Registry (RAR) in Bistrita, the effects of this programme are very well focused.
“The pursued effects are: to have access to loans for youngsters, less polluting cars as new cars observe higher pollution standards, and thirdly, we hope to further foster the domestic production – obviously without discriminating the one in the rest of EU, in a way not allowed by the European legislation. (…) I would like ‘First car’ beneficiaries to choose a car made in Romania” Ponta said on Sunday.
It is estimated that the project will generate sales of 20,000 units annually. The programme is intended mainly to young people between 18 and 35 years, which will take precedence, and other age groups.
The state guarantee will cover more than 50 percent of the amount of the loan under the programme. The loan amount will be up to RON 50,000 with VAT, plus the cost of CASCO insurance policy for the first year. The minimum down payment required by the bank to beneficiary will be between 5 and 10 percent of the loan amount and the total cost of funding state guaranteed will not exceed ROBOR at 3 months plus a margin of 3 percent. The maximum loan duration would be 84 months.
Regarding the new RAR Bistrita headquarters, the total investment amounted to almost RON 7 million.