State-owned bank auto fair with 7.74% rate, lowest ever

Santo Domingo.-State-owned Reservas bank administrator Enrique Ramirez Thursday nightannounced the lowest rate (7.74%) ever for an auto fair, slated for thisweekend in over 180 dealers across the country.

He said the Expomovilrates range from 7.74% fixed for six months and 12.74% fixed up to three yearsfor new vehicles, in addition to special rates for used cars and commercialvehicles.

The official said 1,231Reservas representatives will be available at the importers and dealers of all makesand models distributed in the country, as well to approve loans. “During thethree-day event 90 local financial institutions will work from 8am to 10pm fromFriday through Sunday.”

Up to 90% financing

The banker added thatbuyers can finance up to 90% of a vehicle´s value, with up to six years to pay for new auto and four for used ones.