Vehicle-secured loan
Direct financing from Respaldo RD: against the vehicle you already own, or to buy one with a down payment. Cars, SUVs, vans, motorbikes and ATVs.
Vehicle loan terms
- Vehicle loans: US$3,000 to US$75,000 (approx. RD$180,000 to RD$4,500,000), 6 to 24 months. Borrow against a vehicle you own, or finance the purchase of a new or used vehicle with a down payment of about 20–30%.
- Competitive rate, no hidden costs: we give you every term in writing before you sign.
Peso amounts use a reference rate of US$1 ≈ RD$60. Every application is reviewed; approval isn’t guaranteed.
Your vehicle stays with you
You keep and use your vehicle throughout the loan. It keeps earning for you while you repay.
The only conditions:
- Keep the insurance and the marbete current.
- Keep the GPS tracker installed.
- Don’t sell or re-pledge the vehicle until the loan is repaid.
Two ways to use a vehicle
1. A loan against a vehicle you already own
We lend you our own capital and your vehicle backs the debt. You remain the owner; we register our first-lien security interest under the applicable law and release it when you finish paying. We lend a conservative share of the appraised value: for example, a US$13,000 sedan (approx. RD$780,000) can support about US$6,500 (approx. RD$390,000).
2. Financing to buy a vehicle
We finance the purchase of a new or used vehicle with a down payment of about 20–30%. The vehicle you buy is the collateral. For example:
- A US$25,000 tourism van with 30% down (US$7,500): we finance US$17,500, approx. RD$1,050,000.
- A US$6,000 ATV with 20% down (US$1,200): we finance US$4,800, approx. RD$288,000.
Vehicles we finance
- Cars, SUVs (yipetas) and pickups for personal or work use.
- Vans, minibuses and guaguas, including transfer, tourism or staff transport.
- Motorbikes and ATVs for work, delivery, rentals or excursions, one unit or a fleet.
Requirements
- A valid cédula (Dominican or foreign-resident ID card).
- If you already own the vehicle: the original matrícula (registration) in your name or your company’s, free of oppositions or with a balance the new loan can pay off.
- If you’re buying: the vehicle and seller details, and your down payment.
- Valid insurance and an up-to-date marbete (annual road-tax sticker).
- Proof of income (see below).
- A vehicle inspection by Respaldo RD and installation of the GPS tracker.
How drivers and small operators prove income
Bring what you already have: dispatcher or agency settlement statements, your booking history (including WhatsApp bookings) and the income the vehicle itself generates. If you’re salaried, your employment letter and pay stubs. Bank statements help, but they aren’t required.
How it works
- Apply onlineTell us what collateral you have (or which vehicle you want to buy), how much you need and how you earn your income. It takes about 3 minutes.
- We assess your collateralA Respaldo RD analyst reviews your application, inspects or appraises the collateral and gives you the terms in writing.
- Sign and receive your fundsIf you agree with the terms, you sign with us and receive the money.
If you don’t qualify with us, we connect you with partners, only if you authorize it.
Would you rather use a property? See the property-secured loan.
Frequently asked questions
Can I keep using my vehicle during the loan?
Yes. You keep and use your vehicle throughout the loan. It keeps earning for you while you repay. The only conditions: keep the insurance and the marbete current, keep the GPS tracker installed, and don’t sell or re-pledge the vehicle until the loan is repaid.
Do you only lend against a vehicle I already own?
No. We lend against a vehicle that’s already yours, and we also finance the purchase of a new or used vehicle with a down payment of about 20–30%. When you buy, the vehicle you purchase is the collateral.
Do you accept motorbikes and ATVs?
Yes, from US$3,000. For example, a US$6,000 ATV with 20% down (US$1,200): we finance US$4,800, approx. RD$288,000.
Does the vehicle have to be paid off?
Ideally it is free of liens and oppositions. If you still owe part of it, the new loan can pay off that balance so our lien is first.
I’m a driver without bank statements. How do I prove my income?
With what you already have: dispatcher or agency settlement statements, your booking history (including WhatsApp bookings) and the income the vehicle itself generates. Bank statements help, but they aren’t required.
Ready to apply for your loan?
Send your application to Respaldo RD in about 3 minutes, or message us on WhatsApp. No obligation.