- Thread starter Castro156
- Start date
Car financing to non residents?
Yes, the dealers will give you financing with a passport not all of them but a lot do. But like many said here the rates won't be good. Expect 12-15% annual rates from the dealers. The banks were giving out 7-10% rates this month duento covid loans the government was giving, but getting a loan from a bank without a cedula will be very hard if not impossible. My recomendation, save USD8-10K and buy a used a car.
It will be difficult ( maybe impossible through a big bank) I just experienced this .
We wanted a second car and didn't want to buy another used since we plan to use the vehicle when we go on long trips. We decided on a 2020 CRV (The version built for the latin american market, it has less of the luxury of the American sold one but it's new)
Ban Reservas had a special running at the start of the month of 6% annual on new vehicles. So we applied together.
I have an account with them as does my wife.
No go on the joint application, but yes to her by herself.
We decide to just have her finance it as no way we were getting 6% annuial from other lenders.
So your options will be the private lenders at a 11%-13%% rate . If you use a dealer , it's still going to be sent to one of those larger private lenders, they will be just be the middle man.
We wanted a second car and didn't want to buy another used since we plan to use the vehicle when we go on long trips. We decided on a 2020 CRV (The version built for the latin american market, it has less of the luxury of the American sold one but it's new)
Ban Reservas had a special running at the start of the month of 6% annual on new vehicles. So we applied together.
I have an account with them as does my wife.
No go on the joint application, but yes to her by herself.
We decide to just have her finance it as no way we were getting 6% annuial from other lenders.
So your options will be the private lenders at a 11%-13%% rate . If you use a dealer , it's still going to be sent to one of those larger private lenders, they will be just be the middle man.
Yea, this seems to be the overall info I've come across in the last few days. Save up, pay cash, get a better deal and I'll save money in the long run... Thanks for your valuable feedback!
Great feedback, thanks so much for taking the time... Was the no go on the joint account because you're not a resident? (just a follow up question)
I financed the purchase of a new car from Vegamovil and didnt even have a bank account. I was working in Guyana did everyone by email. When I arrived, I went to the office signed the papers and drove off. Its very possible.
Like I mentioned dealers will broker a finance for you , it's just that your rate will not be 6% annual it will be in the double digits.
It's a passenger carrying D-MAX..... 3 rows of seats if you want..... BIG car
Very economical gas......
$$$$ car.... hard to get.... never too many around.... 2 on SuperCarros last week...... gone I think now
Very economical gas......
$$$$ car.... hard to get.... never too many around.... 2 on SuperCarros last week...... gone I think now
