Owners of vehicles with final license plate 1 in the state of São Paulo have until this Wednesday (11) to pay, with a discount, the IPVA (Tax on Motor Vehicle Ownership) 2023 or pay the first installment of the tribute. The recommendation of specialists for those who have a financial reserve is to make the payment in cash, but they advise against taking out a loan to settle the expense at once.
The payment in a single installment in January again gives a 3% discount, and no longer 9%, as it was last year, when the state increased the percentage to alleviate the effect of the appreciation of used vehicles on the tax. The Covid-19 pandemic had halted, in 2021, production in the automotive sector.
The São Paulo government changed the installment rules this year: it is possible to pay in three to five consecutive installments, as long as the minimum amount per installment is R$ 68.52.
The calendar has expirations on all working days, until January 24th. Owners of vehicles with final license plate 2 will have until this Thursday (12) to pay the first installment or pay the tax at a discounted rate. On Friday (13th) it will be the turn of owners with final plaque 3. Those who do not pay the tribute in cash or the first installment will still be able to pay it off without penalty in February, in a single installment, but without discount.
Investments that guarantee a return above 3% in three or five months are inaccessible to the general public, even with the Selic rate at 13.75% per year, says André Braz, economist at FGV Ibre (Brazilian Institute of Economics of the Getulio Vargas Foundation ). For him, cash payment is always the best option.
“Before choosing to invest in installments, it is worth considering that investments are subject to other administration fees or income tax”, says Braz.
Financial educator Cíntia Senna, from DSOP financial education, points out that the worst alternative is to borrow money to receive a discount on the IPVA payment. The Selic in the two-digit range is reflected in the rates practiced by banking institutions and credit card brokers.
According to data from the Central Bank, the main financial institutions in the country charge more than 10% per month of interest on overdraft facilities.
Considering that IPVA is a fixed and recurring expense, experts advise that taxpayers plan over the previous months.
“You can add IPVA, IPTU, expenses with school supplies, divide by 12 and make a monthly reserve. This money can also be put into capitalization and serve as a springboard to start the year with commitments up to date”, says Braz.
The valuation of used vehicles for the second consecutive year also enters the accounts of car owners.
In 2022, the tax rose by an average of 22.54%, driven by the lack of parts for the production of new vehicles due to the global shipping crisis resulting from the pandemic. In 2023, the annual survey by Fipe (Fundação Instituto e Pesquisas Econômicas) detected an appreciation of 10.77% for semi-new or used vehicles, informed the Secretary of State for Finance and Planning of São Paulo.
The Fipe table, which measures the average prices of vehicles advertised by sellers in the country, serves as the basis for the collection of IPVA. This data is called market value and can be consulted in the Vehicle System (Sivei) of the portal, informing the license plate number.
The survey registered greater appreciation in the sale prices of used motorcycles, with an increase of 14.04%. In the sequence, trucks appear, with 13.37%. Pickup trucks and SUVs rose 10.46%. Car sales prices recorded an average of 9.36% above the value of the previous year. Buses and minibuses had 8.57% of variation.
“Those who start 2023 feeling pressured by the IPVA charge need to reflect on whether keeping a car of that value is consistent with the current budget”, says financial educator Cíntia Senna. Appreciation of resale values opens up the opportunity to make an exchange for a more economical model and guarantee a profit.
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