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Dominican Republic: Expomóvil auto fair means low rates for Dominicans

Santo Domingo.-The State-owned Reservas Bank, as part of its support to the productive sectors and the Dominican family, inaugurated Expomóvil 2020 with fixed rates that will benefit customers who purchase vehicles for personal and commercial use.

Administrator, Samuel Pereyra, announced that new vehicles for conventional use will have fixed rates of 6.50% for a term of six months; from 7.50% to one year; from 8% to three years; from 9% to five years and for used vehicles from 10.79% to one year.

While for commercial vehicles there will be a fixed rate of 7.50% for six months; 8.50% fixed to one year; from 9% to three years; and 10% to five years.

For electric vehicles the rates will be 5.79%, one year; from 8% to three years and from 9% to five years. The first installment of the financing in all cases will begin to be paid next January.

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