NewsWhore
06-10-2009, 05:20 PM
Despite signs that the international financial crisis has peaked, Dominican car buyers are still feeling the crunch.
According to Hoy, figures from vehicle dealers association Anadive indicate that between 40% and 45% of all financed vehicles are being returned to dealerships due to default on repayments by owners.
Anadive president Cesar de los Santos says that there has also been a freeze in the car sales market because of high interest rates on vehicles. He added that it is a shame that while interest rates have dropped for new loans, older loans still have the same, high rates, making it difficult for owners to make payments.
De los Santos says that car sales have dropped by 60% this year.
More... (http://www.dr1.com/index.html#7)
According to Hoy, figures from vehicle dealers association Anadive indicate that between 40% and 45% of all financed vehicles are being returned to dealerships due to default on repayments by owners.
Anadive president Cesar de los Santos says that there has also been a freeze in the car sales market because of high interest rates on vehicles. He added that it is a shame that while interest rates have dropped for new loans, older loans still have the same, high rates, making it difficult for owners to make payments.
De los Santos says that car sales have dropped by 60% this year.
More... (http://www.dr1.com/index.html#7)