Just curious, but why are interest rates on auto loans and mortgages sooo high. Ridiculously high! You'll never see me financing anything. I'll either pay cash, or go without.
Are the interest rates regulated by a central bank, or the government? Or is it just the Dominican way of 'money today', I'll worry about tomorrow, tomorrow.
I mean really, an investor could come here with a couple million bucks and make a killing borrowing to people at 7% APR.
I just don't get it.
Are the interest rates regulated by a central bank, or the government? Or is it just the Dominican way of 'money today', I'll worry about tomorrow, tomorrow.
I mean really, an investor could come here with a couple million bucks and make a killing borrowing to people at 7% APR.
I just don't get it.