11-23-2011, 08:47 PM
For your mid-class, have a decent job Dominican, a car is expensive. Finance , bought with cash, whatever, it is expensive. My sister in-law ( who is a OBGYN/Oncology) bought a Honda Civic, even with a down payment (20% +) her monthly payment was approx $500.00. Now in the USA depending on your ($$) situation you could maybe (probably) pay less. This is one area where I think in the DR it is more expensive. Most car dealers here tack on the customs charge which is what makes it more expensive. I have ALOT of experience in this. We have shipped car's and have bought car's here. Here in the DR it may be less expensive depending on what your looking to buy. Anyone who has had experience with the "Aduana" will know what I am saying.
11-23-2011, 11:52 PM
Cars are more expensive by 40% than in USA. if the same model is being sold more expensive in the DR, buy in US and import. You will pay 40%. So a 70k Lexus mentioned above would cost 98k after import taxes, still a hefty discount off 140k asked by the dealer, in one of the posts above.
11-24-2011, 12:16 AM
Here they still have it, or at least it still is driving around in the country. Have a friend here with a mercedes 300 diesel, 38 years old, 1.8 million kilometers and he prefers it to his new American pick-up (something with Z1, or something like that, on it).
Originally Posted by Criss Colon
Mind you, I have joined him in the mercedes, not the pick-up, and although it hurts me to say so... in this case I think I would have preferred the pick-up... lol
11-24-2011, 12:27 AM
I agree cars are very expensive here, but you also have to remember that, if you bought one of the right brands and models, they also retain their value real well.
In Europe it will be hard to find a second-hand car older than let us say 8 years old, although 5 would be closer to the mark. Any car older than that, and you try to sell it will be almost worthless, as it will be destined for export (to the DR f.e.).
In reality this means a lot of families in Europe finance the purchase of their car for anything between 2 to 5 years, and by the time they have paid for it, they sell it and use the amount received as a down-payment for their next car. As car loans are cheap in Europe, they would be dumb not to do it as they would lose money if they kept driving their car and then sell it at a huge loss.
Both systems (over here and in Europe) are crazy...
Nevertheless buying a car with a monthly payment of almost 50% of your monthly income sounds crazy to me. If he owns his own house outright, it could be justified if a car is that important to the person.
12-25-2011, 01:40 PM
LOL! $5000 a month!?!?! Some people don't even EARN that much!
12-25-2011, 01:46 PM
Ooh well, it seems like being single without kids is really paying off!
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