TheDominican Popular Bank reported that, during this twenty-seventh edition of the Popular Auto Fair, has the largest range of eco vehicles presented at an automotive fairadding 45 hybrid and electric models that can be financed with preferential fixed rates, from 7.75% to six months, 9.75% to one year, 11.95% to two years, 12.95% to three years and 13.95% to five years.
Also, This Friday, December 2, the Popular Auto Fair dedicates the day to the special promotion of these eco-friendly vehicles, in what has been called the “Eco Day at the Popular Auto Fair”.
During this day, Banco Popular will grant free recharges of 1,500 kilometers in Evergo chargers to the first 100 buyers of electric vehicles. In addition, it will offer discounts for those who want to install a residential Evergo charger.
More than RD$1,020 million in portfolio
Currently, through green finance portfolio Go Ecothe credit portfolio for hybrid and electric vehicles exceeds RD$1,020 millionwith an average financing of RD$2.9 million per car.
Hybrid units are the most in demand, reaching 92% of the portfolio. According to its data, Popular explains that, in demographic terms, andhe group of people who purchase eco-friendly vehicles is mostly represented by 45-year-old men old on average.
El Popular also reported that the Leasing Popular product, as a financing alternative, shows significant growth for the acquisition of vehicles, specifically in the lines of SMEs and independent professionals, achieving an 87% increase in the portfolio this last year.
The leasing is a financial lease, which has a residual value previously agreed with the bank. The client pays comfortable monthly installments to acquire an asset, such as a vehicle or any machine that has a serial number, chassis or property title. During the life of the lease, the user of the asset enjoys advantages such as tax savings and the preservation of their working capital.
People’s Bank is pioneer in offering this financial product in the Dominican market since 1996. Recently, it introduced innovations such as a leasing for individuals, such as independent professionals, and a green leasing, within the Hazte Eco portfolio, designed to finance the purchase of solar panels and hybrid and electric vehicles, being the only bank in the market that offers it.