Santo Domingo.- The 10th edition of the Banco Popular’s Auto Fair held last weekend increased sales of new vehicles to support the auto dealers and manufacturers’ representatives grouped in ACOFAVE, where 400 vehicles found new owners.
In a statement the Banco Popular, said ACOFAVE had posted a decline in sales in recent months compared to similar periods since 2006.
The fair will last until December 31 to allow the completion of negotiations and formalize financing for customers in the local companies that participated in the exhibition of commercial vehicles.
Written by: mrios, 9 Dec 2008 7:38 PM
From: United States
I just hope there not gas guzzlers, at the price of gas in the Dom. Rep are you kidding me.........In the old days It used to Mercedes Benz, Porches etc..etc.. To show ones Status in the Dom. Rep. now it's who owns and drives the biggest gas guzzlers with the bom bom boxes as a show of clout, how sad indeed, and to think all for attention getters. I just hope the attention one gets is not the criminal element. I'll pray for you...
Written by: leonardo, 9 Dec 2008 7:56 PM
From: Dominican Republic
with 30+% annual tax for financing a car with banco popular the Headline should be as following;
"Popular's auto fair helps dealers and Bank and managed to rob and/or ruin around 400 citizens".
From: United States
hey, leonardo. do not be such a spoilsport. let the banks have some fun. they borrow the money at 18%, then lend it at 32%. it's a license to steal!
Written by: juanb, 10 Dec 2008 12:27 AM
From: Dominican Republic
I am going to buy a new car if I can find a realistic, non usurous rate. The search has been quite interesting. In the US the dealers are offering 0% interest loans to make the purchase of a car possible and so that they can move their inventory. Here the deal is 24%. In the states apparently they realize that it is better to do some business at a smaller rate of profit. Here, they would rather do no business so that they can maintain their ridiculous interest rate. What fools.
Written by: devin11, 10 Dec 2008 1:59 AM
From: United States
Please pardon my ignorance to the automobile bank financing rates of the DR but are you guys being literal when you quote auto finance rates at 24% to 30% a.p.r.?
Written by: generoso, 10 Dec 2008 6:13 AM
From: United States, Santo Domingo
devin11
And that's a good deal only if you buy a brand new car with 0 mileage required.
Used cars add about 10% more.
Then you have to add "full cover" insurance which is very expensive here for another US$125 or more a month on onwards depending on the value of he vehicle.
It is called "highway robbery".
Written by: Nemo69, 10 Dec 2008 8:29 AM
From: Dominican Republic, Santo Domingo
Luckily this only touches a small portion of individuals who need to finance to keep up with the big boys; most new cars are either bought "through the company", (usually with a "tax free" plate), or paid in cash from a black leather briefcase...
Written by: DaniDr, 10 Dec 2008 9:12 AM
From: Dominican Republic, Santo Domingo
If you have good credit you can get financing for 12-18% depending on the amount and credit history. You can criticize as much as you want, but if you want to buy a new car with financing in the DR, doing it with Banco Popular and in the Auto Feriahas a lot of discounts and advantages.
Anyways, owning a car is expensive in the DR, there's no getting arround that. About gas guzzlers, I'll sell my my V6 jeepeta as soon as the roads are in conditions to drive a normal sedan :P
Written by: Escott, 10 Dec 2008 12:24 PM
From: Dominican Republic, Cabrera and Sosua a few days a month
I agree, the roads ruin the SUV's here so to drive less is crazy!
I bought a SUV with a 2.5 Gas/Oil which seems to get a million miles to a gallon and has a lot of torque as well. Hee Haw
Written by: ambioriv, 10 Dec 2008 1:56 PM
From: United States
why don't dominicans produce their own cars.
Written by: mrios, 10 Dec 2008 6:26 PM
From: United States
Ambioriv,
The World may never know.....
Your right about the highway conditions, they suck.
The Geo Metro would not last a week....
Every time I drove in the Dom. Rep. it's been with a Rental Car.
If I were to ever own a car in the DR it would a late 90's Jeep wrangler [ a real JEEP-PITA ] at least it would handle the bumps pretty good, no need for speed or to drive like a Dominican [ not all us Dominicans drive crazy with disregard for Human Life or safety ] just as long as I get from point A to point B safely that's whats important anyway.
From: United States
from what, ambioriv? are you aware of what it takes to produce a car? if companies like AMC went bankrupt in a country like the USA, do you realistically believe that the DR can make cars? did you ask that question to get a rise out of readers?
Written by: mrios, 10 Dec 2008 8:38 PM
From: United States
Dreadlocks,
I think what Ambioriv meant was that if some Companies like Honda, Nissan or Toyota would hook up with a manufacturing Company in the DR to produce it's own version of a real Dominican Jeepita, a Classic idea, a gas saving Automobile built only in the DR for the DR and South American Country's , Just think of a Gas saving off road type small 4x4 compact Car / truck, and the jobs it would create for sales, service and parts. It could be done with the proper industrial / Government support.
From: United States
mrios, you are a sweetheart of a guy, and i am an old curmudgeon. but, knowing the ideas of ambioriv like i do, i do not think that what you said is what he means.
Written by: mrios, 10 Dec 2008 9:13 PM
From: United States
Dreadlocks,
Oh, shucks...... I must of dozed off for a minute or two from realty...If only dreams could become realty...Most will reply, Why ! I will reply with, why Not ! As long as many would benefit, WHY NOT.
From: United States
i know that the long knives will be coming out of the sheaths after this pops up on the board, but would you like to buy a car made locally? dominicans have talent, and some are fantastic tradesmen. the problem is attention to detail. it is very easy to screw up the manufacture of something as complex as a car by simple lax work habits. we have those here in spades!
From: Dominican Republic
Well you just scared the crap out of me buying a car, First i wanted to finance something new then something economical but that would have to be something small and your right it wouldnt last a week on these roads. Some of the potholes i have seen could house two or three jeepetas!
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"Popular's auto fair helps dealers and Bank and managed to rob and/or ruin around 400 citizens".
And that's a good deal only if you buy a brand new car with 0 mileage required.
Used cars add about 10% more.
Then you have to add "full cover" insurance which is very expensive here for another US$125 or more a month on onwards depending on the value of he vehicle.
It is called "highway robbery".
Anyways, owning a car is expensive in the DR, there's no getting arround that. About gas guzzlers, I'll sell my my V6 jeepeta as soon as the roads are in conditions to drive a normal sedan :P
I bought a SUV with a 2.5 Gas/Oil which seems to get a million miles to a gallon and has a lot of torque as well. Hee Haw
The World may never know.....
Your right about the highway conditions, they suck.
The Geo Metro would not last a week....
Every time I drove in the Dom. Rep. it's been with a Rental Car.
If I were to ever own a car in the DR it would a late 90's Jeep wrangler [ a real JEEP-PITA ] at least it would handle the bumps pretty good, no need for speed or to drive like a Dominican [ not all us Dominicans drive crazy with disregard for Human Life or safety ] just as long as I get from point A to point B safely that's whats important anyway.
I think what Ambioriv meant was that if some Companies like Honda, Nissan or Toyota would hook up with a manufacturing Company in the DR to produce it's own version of a real Dominican Jeepita, a Classic idea, a gas saving Automobile built only in the DR for the DR and South American Country's , Just think of a Gas saving off road type small 4x4 compact Car / truck, and the jobs it would create for sales, service and parts. It could be done with the proper industrial / Government support.
Oh, shucks...... I must of dozed off for a minute or two from realty...If only dreams could become realty...Most will reply, Why ! I will reply with, why Not ! As long as many would benefit, WHY NOT.