March 5, 2019. Around 600 thousand old cars that circulate in Lima, Peru, will have access to a bonus of $2.000, which will serve as the initial installment of a new car, thanks to a private initiative promoted by Acceso Crediticio.

The vehicular credit company seeks to contribute to the improvement of the environment and the modernization of the Peruvian automotive fleet. “That is why we seek to recycle old vehicles and renew them for new units powered by compressed natural gas (CNG), both for personal use and for work,” said José Luis Hidalgo Cáceres, General Manager of Acceso Crediticio.

Hidalgo explained that the Chatarreo Bonus applies to Lima and that the old car, that is to say with more than 20 years old, must be circulating properly and without any judicial injunction. In addition, it must be within the absolute legality and the owner must be willing not only to deliver it, but also to acquire a new vehicle and qualify in the evaluation.

The executive of the financial institution estimated that there are more than 1.200.000 old vehicles throughout Peru, of which 69% are cars, stationwagon and pickups that are subject to the bonus.

In eight years, the vehicle firm has managed to reduce 141.000 tons of CO2 by financing 54% of the new CNG vehicles sold in Peru.