How does Gaya offer lower interest rates on car loans when customers take insurance and what factors contribute to it?

Like most of the financing players, we have relationships with credit unions and banks across the credit spectrum. If the customer is going to issue the loan at the dealership, as I said, most of them have a high-interest rate or higher loan payments.  We will be able to achieve, if not the cheapest rate, a very, very cheap rate, that will be around a maximum of 10-20 basis points from the absolute-minima. That's how we can achieve lower rates. But if we were to bundle their insurance as well, one of the things we are betting on is that many customers in the subprime category lapse on the insurance coverage whenever they can't make it, they go into the gray route, where they’re illegally driving their motor vehicle in the country.

The government doesn't like that, but banks don’t like that because their car is not insured and not covered. If we were to guarantee to the banks that the car is covered, perhaps there’s also an opportunity to decrease the interest rate on the car for this purchase population. Now, banks do have other mechanisms today to hedge against that, and they may be using them, so there is a lot of possible experiments we have to run on that side. It's not a certainty though, still a hypothesis.