Guide for Foreigners: How to Buy a Car in Puerto Rico with Cash or Financing
If you are a foreigner and this is your first time buying a car in Puerto Rico, it’s essential to understand the available options, the requirements you need to meet, and the key differences compared to purchasing a car in the United States. At CARFEST, we simplify the process by handling the documentation and vehicle registration, ensuring you can purchase your car either in cash or through financing with a banking institution.
One of the most notable differences compared to buying a car in the U.S. is that the advertised, published, or negotiated price is the final price—meaning no additional sales tax or extra fees are added to the amount agreed upon.
If you choose to buy your car in cash, the process is faster and simpler. You only need to present a valid passport and a current driver’s license. The advantage of paying in cash is that you avoid interest charges from financing. Once the payment is made, CARFEST takes care of all the documentation, allowing you to drive away with your car hassle-free.
If you prefer to finance your car, CARFEST assists you throughout the entire process. We work directly with financial institutions to secure the best interest rate based on your credit history and financial profile. As a foreigner, you will generally need a valid passport, driver’s license, proof of income (such as bank statements or an employment letter), and in some cases, a local bank account. Depending on the bank and your credit profile, a down payment may be required. At CARFEST, a used car dealership in Dorado, we make this process easy so that you can drive away with your car the same day. Additionally, CARFEST offers protection products to safeguard your investment. Some of these options include service contracts that cover mechanical repairs for a specific period, breakdown and theft protection insurance, and roadside assistance services so you can drive anywhere in Puerto Rico with peace of mind, knowing that help is available whenever needed.
At CARFEST, we make it easy for foreigners to buy a used car in Puerto Rico through a transparent and trustworthy process, always ensuring the best deals on used vehicles. Visit us in Dorado, Carr. #2, BO Espisona, or find us on Google: https://g.co/kgs/gZwNx8C