Automotive financing is the most commonly used financial tool for purchasing a car, with six out of every 10 cars acquired through this method, reported the Mexican Association of Automotive Distributors (AMDA). The growth and diversification of the credit offer, both bank and online, have opened up great opportunities to access a new car.
Edgar Aragón, marketing director of the company BitCar, emphasized that technological advancements have streamlined financing processes through biometric controls and digital filters that enhance security. However, he recommended that interested parties always verify the authenticity of the financial institution or bank, as well as review the credit costs and the terms of the contract before making any payment.
Aragón stressed that fraud can lead to significant economic losses, affecting the assets and peace of mind of buyers and their families. According to data from the Belisario Domínguez Institute (IBD), Mexico registers 15,000 scams daily, many of which are related to unsafe transactions. Therefore, prevention is crucial to avoid surprises and ensure the security of the operation when acquiring a car with financing.
The annual increase of 34.6% in claims related to automotive financing, reported by Condusef between January 2024 and the same month this year, underscores the importance of applying good practices when buying a vehicle. Identifying a reliable financial institution is fundamental to avoid fraud. To achieve this, experts advise verifying that it is registered and regulated by authorities such as Condusef, relying on SIPRES to confirm it is a financial institution, reviewing approval times, and ensuring that the process is transparent, among other preventive measures.
