Loans for industry and business are relatively scarce and costly in the Dominican Republic, but getting a loan to purchase a luxury car is a breeze. Major banks in the Dominican Republic frequently hold major financing fairs to offer low cost financing of around 9% a year for the purchase of vehicles. Loans for industry contrastingly are at around 14% interest rate.
Auto Feria Popular announced it had cleared financing deals for RD$5.3 billion in the four-day fair held over the past weekend. This is enough to finance around 3,880 new vehicles (2019 or 2018 models) at an average of RD$1.4 million each. The most sold vehicle is the SUV, as reported in El Dia. During the fair, 22 vehicle import companies participated exhibiting 27 new models.
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El Dia
4 December 2018
