Banks

sabros027

Member
Jun 3, 2009
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What is the bank with the lowest interest rate for purchasing a used car loan in dominican republic? Also what kind of information do they need fro you for the loan and how much will they finance?
 

SteveS

New member
Apr 15, 2008
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What is the bank with the lowest interest rate for purchasing a used car loan in dominican republic? Also what kind of information do they need fro you for the loan and how much will they finance?

There's about a thousand factors which affect what you would pay in interest on this kind of loan. Age of the car, how long the loan is over, dealer purchased or not, your residency status, your credit score, your income...blah...blah....

So saying that, anywhere between 10% and 50%.

Good credit score, new vehicle, long residency etc.. 14% maybe.

Same for a used car maybe 18%.

Maybe as a guide, for each problem you have, add 3/4% to the rate!!



Addition:-

Documentation required is heavy, pretty much your life on a sheet of paper certified by the issuing authority. And they will check it all out.
 
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DMV123

Bronze
Mar 31, 2010
1,211
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And they will take forever to decide and then likely turn you down. Going thru a dealership many self finance but at higher rates.