Prestmos. What is the average rate for

[playacaribe2]

The borrowing rates at these Auto Fairs are usually some of the best;

Biggest bank’s auto fair kicks off today

<p>Santo Domingo.- Under the slogan “Move and explore new dimensions” the Banco Popular Dominicano announced this Monday the 26th edition of the Autoferia Popular, in which customers will be able to finance the purchase of a new vehicle. There will also be used vehicles. Francisco Ramírez...

dominicantoday.com

Respectfully,
Playacaribe2

 

[JD Jones]

Something is off in that article. The BPD website says 4.75% on hybrids and electrics, not 7.5.
"Santo Domingo, D.N. – El Banco Popular Dominicano anunció la vigésimo sexta edición de la Autoferia Popular, en la que los clientes podrán financiar la compra de un vehículo nuevo con las tasas fijas más competitivas del mercado: 5.75% a 6 meses; 6.95% a 12 meses; 7.75% a 3 años; 8.95% a 5 años y una tasa fija especial para vehículos híbridos y eléctricos desde 4.75%."

 

[playacaribe2]

Something is off in that article. The BPD website says 4.75% on hybrids and electrics, not 7.5.
"Santo Domingo, D.N. – El Banco Popular Dominicano anunció la vigésimo sexta edición de la Autoferia Popular, en la que los clientes podrán financiar la compra de un vehículo nuevo con las tasas fijas más competitivas del mercado: 5.75% a 6 meses; 6.95% a 12 meses; 7.75% a 3 años; 8.95% a 5 años y una tasa fija especial para vehículos híbridos y eléctricos desde 4.75%."

It is quite possible..........but I just pulled this off their website..................for EV's and hybrids;

84 MONTHS​

TO PAY​

90%​

FINANCING​

UP TO 5 YEARS​

OF FIXED RATE​

7.45%
fixed for 1 year
8.50%
fixed for 3 years
9.95%
fixed 5 Years

Banco Popular Dominicano | Popularenlinea

A tu lado, siempre. Conoce el más amplio portafolio de tarjetas de crédito y débito, cuentas de ahorro o corriente, préstamos, inversiones, entre otros.

popularenlinea.com

Respectfully,
Playacaribe2

 

[jollyroger]

wow that sure is alot.

Until, one of the people that loaned money from you disappears, leaving you (the lender) in the RED

 

[jollyroger]

I am a private lender in Canada,I only loan up to 60-70% loan to value ratio on real estate. I get 10% interest per year. These are almost always one year mortgages. Almost zero risk and I have averaged an annual net return of over 12% over the last 15 years due to defaults and late payments. We have a saying " it has to go bad to be very good". In other words,I hope the borrower defaults,I charge a 3% additional fee for a default and defaults always come with a few late payment charges of $250. But unsecured loans in the DR,nope. I'll take my 12% in Canada and be happy with that.

Ive had quite a bit to do with Dominicans and their apparent difficulty to pay back a person, business etc what they owe them.

I am not offended to see lenders charge 20% interested ...its probably because they have to....i wouɔd expect many peopl default, or bail on their loan commitment

 

[jollyroger]

It is quite possible..........but I just pulled this off their website..................for EV's and hybrids;

84 MONTHS​

TO PAY​

90%​

FINANCING​

UP TO 5 YEARS​

OF FIXED RATE​

7.45%
fixed for 1 year
8.50%
fixed for 3 years
9.95%
fixed 5 Years

Banco Popular Dominicano | Popularenlinea

A tu lado, siempre. Conoce el más amplio portafolio de tarjetas de crédito y débito, cuentas de ahorro o corriente, préstamos, inversiones, entre otros.

popularenlinea.com

Respectfully,
Playacaribe2

 

[Drperson]

Until, one of the people that loaned money from you disappears, leaving you (the lender) in the RED

for me the collection aspect makes it a no go

 

[JD Jones]

So.... Banco Popular just wrapped up their Autoferia 2021. They set a new record for vehicles sold; 5556 for a total of 10 Billion Pesos. (6 bn paid out so far)

That means in the space of a week or two, another 10k vehicles were put on the road here.

Autoferia alcanza los RD$10,000 MM en solicitudes de préstamos

El Banco Popular Dominicano informó que la vigésima sexta edición de la Autoferia Popular concluyó con un monto de RD$9,999.7 millones en solicitudes

www.elcaribe.com.do

 

[SKY]

And to add NO vehicles are taken off the road. Almost never.

 

[playacaribe2]

So.... Banco Popular just wrapped up their Autoferia 2021. They set a new record for vehicles sold; 5556 for a total of 10 Billion Pesos. (6 bn paid out so far)

That means in the space of a week or two, another 10k vehicles were put on the road here.

Autoferia alcanza los RD$10,000 MM en solicitudes de préstamos

El Banco Popular Dominicano informó que la vigésima sexta edición de la Autoferia Popular concluyó con un monto de RD$9,999.7 millones en solicitudes

www.elcaribe.com.do

And the dealers attending tell me there were a record number of EV's sold.

The long pivot to EV's in the DR is beginning.

Once Toyota's BV4X comes to the DR new/used market over the next few years, along with the electrics from Hyundai/Kia, you will likely start to see a major pivot to EV's. While they will not replace ice engine vehicles (that may take up to 50 years in the DR) they will become a significant portion of the registered vehicles.



Respectfully,
Playacaribe2

 

[JD Jones]

And the dealers attending tell me there were a record number of EV's sold.

The long pivot to EV's in the DR is beginning.

Once Toyota's BV4X comes to the DR new/used market over the next few years, along with the electrics from Hyundai/Kia, you will likely start to see a major pivot to EV's. While they will not replace ice engine vehicles (that may take up to 50 years in the DR) they will become a significant portion of the registered vehicles.



Respectfully,
Playacaribe2

If you haven't seen a BV4X yet, check this out. I think Toyota nailed it with this one:

And some other brands that won't break the bank:

 

[McClelland]

I know the loan percentages are high, but isn't part of the reason is that many loans don't get paid back?

 

[Juan Bosch]

I know the loan percentages are high, but isn't part of the reason is that many loans don't get paid back?

Even if you give a loan with no interest...they don't pay back...happened to me...

 

[cavok]

Even if you give a loan with no interest...they don't pay back...happened to me...

That's why the loan rates are high - they have to make up for the deadbeats.

 

[windeguy]

And the dealers attending tell me there were a record number of EV's sold.

The long pivot to EV's in the DR is beginning.

Once Toyota's BV4X comes to the DR new/used market over the next few years, along with the electrics from Hyundai/Kia, you will likely start to see a major pivot to EV's. While they will not replace ice engine vehicles (that may take up to 50 years in the DR) they will become a significant portion of the registered vehicles.



Respectfully,
Playacaribe2

50 years seems about right. I almost certainly won't see that "full" transition. I do envision those living in Santo Domingo to have to step over those hundreds of extension chords on the sidewalks as they walk down the streets.

 

[McClelland]

Until, one of the people that loaned money from you disappears, leaving you (the lender) in the RED

Yes, I agree it's not uncommon. It happened to me.