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Santo Domingo. – The Dominican Republic’s Central Bank decision to trim the banks’ reserve requirement disclosed Tuesday has prompted at least one major auto dealer to announce an interest rate of 8.95% for car loans, lowest ever.

The announcement by the company Hboutique offering the rate on at least two new SUV models for six years could unleash a fierce price war in among dealers, known for charging exorbitant amounts for new cars.

Hboutique, which represents Hyundai, began offering Santa Fe and Tucson at a fixed 8.95%  and up to six years to pay with free, full coverage insurance, says an ad published by eldia.com.do.

Since vehicle financing forms part of personal consumer loans, as much as RD$1.3 billion are available within the RD$20.0 billion released by the Central Bank.

Just yesterday, Enrique Fernandez, president of the major dealers grouped in Acofave, said the fixed rate sets a record for auto financing and even goes below the Central Bank’s benchmark of 9% for those transactions.

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COMMENTS
14 comment(s)
Written by: josean, 15 May 2013 3:49 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


It is Still to High in addition to the "FIRST Born" Down Payment!


Written by: Ricardolito, 15 May 2013 6:13 PM
From: Dominican Republic, Zona Colonial
This is the Lowest rate ever and congratulations to the central bank ,,,but the initial registration jumped significently and the annual registration is now 1% of the cars value which will encourage most people to keep their cars for a little longer ..so much of the benefit of this low rate will be lost
Written by: PuntaCanaMike, 15 May 2013 7:21 PM
From: Dominican Republic
Still totally out of the ballpark in comparison to what it should be... cars.com/go/advice/incentives/incentivesAll.jsp?zc=60657#hyundai
Written by: josean, 15 May 2013 7:25 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



My God Little Rickey what has gotten into you!

Two home runs in less than 24 hrs.; are you taking Steriods like Alex Rodriguez?






Written by: JHCL2016, 15 May 2013 10:09 PM
From: Dominican Republic, EN PUNTA CANA: Jose H Con Leonel 2016!


República Dominicana en Cannes
diariolibre.com/cine/2013/05/15/i383767_inauguraran-este-viernes-espacio-republica-dominicana-cannes.html

Todo y solo gracias a L.....

8-)
Written by: jojosnogood, 15 May 2013 10:14 PM
From: Dominican Republic
ricardo makes a good point I guess that's why the offer free full coverage insurance.offset the 1%
Written by: josean, 15 May 2013 10:32 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



"Todo y solo gracias a L....."

Manito are you going incognito?


Written by: JHCL2016, 15 May 2013 11:15 PM
From: Dominican Republic, EN PUNTA CANA: Jose H Con Leonel 2016!


Nah, just pulling back a bit to conserve it for the 2016 run... Plus there is internal whispering about the Señora taking being let to take a shot..

Margo o Leo?

( ';' )


Written by: josean, 15 May 2013 11:29 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Margo o Leo? Esta Muy Lejo!


Written by: IloveDR, 16 May 2013 4:15 AM
From: Dominican Republic, Santo Domingo
This is a trap, dont be fooled. Always go debit!
Written by: danny00, 16 May 2013 7:12 AM
From: United States, Acropolis 114 santo DOMINGO
I didn't know that a-rod took drugs?
Written by: danny00, 16 May 2013 7:24 AM
From: United States, Acropolis 114 santo DOMINGO
Trap? Not sure about this, but one thing iam sure out is don't bend over if u drop your pen when you sign the loan papers
Written by: Ricardolito, 16 May 2013 7:37 AM
From: Dominican Republic, Zona Colonial
Just on the subject of prices and taxes ,,,am I correct in saying that the contract with Barrick had a price of gold of $1400 per ounze in it and the Dominican take could only be when the price was over this level ??? maybe I am wrong . The price of gold crashed last night for a while to under $1400
Written by: Ricardolito, 16 May 2013 7:40 AM
From: Dominican Republic, Zona Colonial
I was wrong ..I found the page and it is subject to the price being above $1600 an ounze,,,it is well under that now
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