How does buying a car work with financing?

[Fiscal]

If I am buying a new car, typically what % down to put? And how do dealers handle financing and interest, given inflation here? I assume it is nothing like the US, where dealers often 2% or sometimes even 0% interest.

 

[Rich One]

Below is a link showing the different financing plans for a 0km vehicle

Financed by an UVA credit
Financed by the Car dealership
Prepayment Plan 84 payments



https://www.infobae.com/autos/2017/...es-alternativas-para-comprar-0km-financiados/

 

[sts7049]

84 payments....incredible.

 

[Rich One]

84 payments....incredible.

Its a great option people start making payments without knowing when they will receive the car (A Save-away Plan) or the options like color et. al.

The manufacturing plant can then produce what is already sold and part-prepaid... less inventory and production planning guess estimates. Less cost of financing upfront and capital outlays. The beneficiary receives NO interest on his funds deposited to the manufacturer which could average a 20% benefit.? Less credit risk /insurance .... Maybe the manufacturer, when the car is delivered, has his fixed costs Covered? So they can offer this plan more widely

 

[Fiscal]

Wait, you don't get the car until all 84 payments are made?

 

[sts7049]

right. my understanding is that you are basically paying in advance for the full price of the car. so i guess on month 84 after you've paid up to whatever amount, then you pick out the car. or something like that.

i have no idea what happens like recently if the peso crashes, car prices go up, etc.

 

[Fiscal]

Wow. I'm still very confused...what does a typical middle class person do here, like a doctor or lawyer, that makes a decent salary but isn't wealthy enough to buy a 25k car in cash? They do these installment plans?

 

[wineguy999]

Wow. I'm still very confused...what does a typical middle class person do here, like a doctor or lawyer, that makes a decent salary but isn't wealthy enough to buy a 25k car in cash? They do these installment plans?

I've heard about cooperative groups for buying. Ten people in a group making payments reduces the waiting time tenfold. One member's turn comes to get a car, the group accepts another person at the end of the line, so forth.

And you thought you were already confused!

 

[Rich One]

Wait, you don't get the car until all 84 payments are made?

It's always good to play What if's ... Bring extreme situations and request Answers. Go to your closest car dealer ask for an english speaker anf request to be educated on finance options for The Model Car You wish for Residents, non residents, tourists, self employed , unemployed , etc.

Discussing Hypothetical Options is a waste of time.....

 

[Fiscal]

I've heard about cooperative groups for buying. Ten people in a group making payments reduces the waiting time tenfold. One member's turn comes to get a car, the group accepts another person at the end of the line, so forth.

And you thought you were already confused!

Yikes!!!