How much money should be invested to buy a car in Ecuador?

A down payment to buy a vehicle depends on several factors, but you should at least have between $1,700 and $2,500 to make the down payment and submit it on time with the various financing plans on the market.

The price, model, make and dealer depends on how much the entrance is. Offers from various sales outlets reveal that an initial outlay of 10-20% of the total value of the vehicle is expected. But in other cases, you need to have a 35% down payment, which is equivalent to about $10,000.

If you want to buy a new car, these are the current financing plans for this year 2023

Chevrolet’s Continental Automotive business offers a minimum entry of 15% on its various vehicle models ranging from $16,000 to $20,000.

While for vehicles in the $25,000 to $50,000 range, the entry value increases to 30% or 35%.

Almost half of the 107 vehicle brands sold in Ecuador are Chinese

As for Mazda models, Henry Toala, a consultant to Corporación Mares, explained to this newspaper that the entry value for certain vehicles is 20%.

And he claimed that they can be financed for up to 72 months.

On the other hand, Christian Cazar, manager of the Chery brand, described in detail the models of vehicles that are offered to the public where the prices of the 10% entry fee reach about 2000 dollars.

With more than 35,000 units, first-quarter vehicle sales revved up and exceeded pre-pandemic numbers by 14%

AutoMekan, which offers different brands (Soueast, DFSK, Great Wall), states that the entry value is 20% for each model.

Vehicle sales surpassed figures from the years before the pandemic and between January and May 2023 set a record with sales of 57,819 units, a growth of 9.4%, according to data from the Association of Automobile Companies of Ecuador. (Aeades).