Expat Forum For People Moving Overseas And Living Abroad banner

Status
Not open for further replies.
1 - 7 of 7 Posts

·
Registered
Joined
·
184 Posts
Discussion Starter · #1 ·
Does anyone have any experience purchasing a new car here in Mexico?
If so, what brand, what was required for the financing and any other details will be much appreciated?
 

·
Registered
Joined
·
1,837 Posts
In 2009, I bought a VW Crossfox. The total cost was 160,000 pesos. I put 70% down and made three payments of 16,000 pesos interest free.
 

·
Registered
Joined
·
6,720 Posts
In 2006, we bought a smart car from a Mercedes/Smart dealership in Guadalajara. $152,000 pesos, cash purchase.
Financing, in the way it is done in the USA, is rare in Mexico and very expensive. Better to pay cash for a car you can afford.
 

·
Registered
Joined
·
1,837 Posts
The interest rate is around 15%.

Sent from my Motorola Razr using Expat Forum
 

·
Registered
Joined
·
706 Posts
The interest rate is around 15%.

Sent from my Motorola Razr using Expat Forum
We were looking at the 2013 Jeeps and they were giving them away for 11.99% financing. They wanted 25% down and the monthly payments were still around 12,000 pesos (if 25% down was all you could afford).

I have a family of 6 now (son just born 2 weeks ago), so we are looking for a van now.
 

·
Registered
Joined
·
536 Posts
We were looking at the 2013 Jeeps and they were giving them away for 11.99% financing. They wanted 25% down and the monthly payments were still around 12,000 pesos (if 25% down was all you could afford).

I have a family of 6 now (son just born 2 weeks ago), so we are looking for a van now.
Congratulations on the birth of your son. :cheer2:

If you keep going you will soon need a bus. :D
 

·
Registered
Joined
·
706 Posts
Congratulations on the birth of your son. :cheer2:

If you keep going you will soon need a bus. :D
Thanks! Its a little crazy right now but such is life.

I agree that buying in cash is best, however any vehicle here in Mexico that will fit 6 people (2 in car seats) will cost upwards of 250k pesos. Most of them are 2008 or older too, so no financing available for that age of a car. I do not have that sort of cash laying around, especially with 4 children and a wife to look after.

I was thinking about taking out a loan from a credit union in the US with a low interest rate and pay cash in Mexico, then just make payments on that loan for 2-3 years.
 
1 - 7 of 7 Posts
Status
Not open for further replies.
Top