I feel like someone talks about megouchobob said:Just remember you aren't in Sydney and just it's less costly than there doesn't make it a bargain. Remember incomes are a lot less in Argentina and prices are actually pretty high in comparison. If you are having trouble buying a place think how much more difficult it is for an Argentine with much less income and little or no access to credit.
Again the deal you quoted is 14% plus percent (probably the actual effective rate of interest is much higher based on the terms you quote). I disagree with the other poster on the reasons for this and believe lenders look at things like inflation, political and economic stability, and price a loan with a big risk premium to account for these problems. If Argentina didn't have these problems loans would be more widely available at more reasonable rates.
Yes, those factors you mention are real and bankers look at them.
But besides that, there is the highest profit way of thinking i mentioned before (some credits have an interest of 45% ANUAL).
No offense on this, but you said "(I) believe lenders look at things like inflation..." etc. True, but I KNOW about the factor of drying people´s pocket.
All the economic theories and bussines ethic or economic thinking you may have brought with you from your homeland, dont apply here.
Loans of any kind here are demential.