A new microcredit program to help the most modest to buy a used car

In recent months, when buyers have faced record waiting times to acquire a vehicle leaving the factory, the fault of the pandemic and the shortage of semiconductors, the rates have exploded on the second-hand markets.

Result ? The working classes and the middle classes are finding it increasingly difficult to change vehicle, “at a time when the establishment of low emission zones (ZFE), almost everywhere in France, does not however leave them the choice”, underlines one at the firm Roland Berger, expert in the automobile.

The repayment period extended to seven years

In Seine-Saint-Denis, the Croesus association (regional chambers of social over-indebtedness), the department and the JP Morgan bank have just launched the “Employment Mobility Boost” program last December. This helps with the purchase of “clean vehicles” via microcredit, a loan scheme aimed at borrowers who have difficulty accessing the traditional banking system.

Concretely ? Individuals who find it difficult to make ends meet, in employment or in demand, students, or even retirees… “The reality is that a certain number of people – the France of commercial and industrial areas, those who have tours to do – need a car, insists Étienne Depeyre, the head of the financial emancipation center at Crésus. With the problem of the ZFE, these motorists are obliged to re-equip themselves. Alas, even on occasion, it becomes more and more difficult for them. »

To help them, the association obtained from the public authorities, last year, that the maximum amount of loans granted in microcredit increases to 8,000 euros (compared to 5,000 euros previously), and that the repayment period be extended to seven years (for five years previously).

“So early, no public transport, he needed a car! »

“We meet many people forced to buy a more technological and more expensive vehicle, continues Étienne Depeyre. The good deal at 3,000 euros, advanced in age but well maintained, no longer exists… I have the example of an individual at the RSA who, after training, had found a job cleaning planes at 4 a.m. morning at Roissy. So early, no public transport, he needed a car! »

Offer the possibility of acquiring an opportunity, very well, but then. “To keep the budget car purchasers — fuel, maintenance, insurance — we have created a network of solidarity garages and insurers,” says Crésus. As prices have increased everywhere, and not just in Seine-Saint-Denis, the association will soon extend its program to the national level. “By mid-2023, hopes Étienne Depeyre, after having measured the first effects in the 93. “

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