Fewer and fewer people are encouraged to buy a car in cash, after the high levels of inflation that Mexicans live in, however, having a car today is a necessity rather than a luxury, which is why resorting to loans is the first option that exists for consumers.
For this reason, another option to be able to obtain a car is by resorting to financing plans or car loans or loans offered by banking institutions, although it is important to mention that the Bank of Mexico a few days ago increased the interest rate by 75 base points. reference interest.
Banking institutions with better interest rates
According to the Auto Credit Simulator of the National Commission for the Protection and Defense of Financial Services Users (Condusef), the banking institutions with the best rates, just to request an auto loan are the following:
HSBC
This bank asks you as a down payment from 10 percent and its term is up to 72 months, the interest rate is 11.90 percent and finally its opening commission is up to 2.00 percent.
Banregio
This institution asks you for a down payment from 10 percent, with a term of up to 60 months, its interest rate starts at 11.50 percent and for the opening commission they ask for 2.00 percent.
Banorte
Finally, one of the banks with the best interest rate to request a car loan is Banorte, since its down payment also goes from 10 percent, but its term is up to 72 months, the interest rate is 11.75 percent and their Opening Commission is 2.50 percent.