Banco Promerica Costa Rica released recommendations on Apr. 24 for individuals considering purchasing a car, emphasizing the importance of making informed decisions to avoid future financial difficulties.
The guidance is intended to help buyers understand the full scope of their financial commitment when acquiring a vehicle. Bank specialists say that evaluating one’s monthly income, current expenses, existing debts, and ability to maintain payments over time is crucial before proceeding with a purchase.
“Before thinking about the vehicle, it is important to be clear about how sustainable the decision is. It is not just about buying, but being able to maintain that commitment with peace of mind,” said Bernal Alfaro, Director of Personal Banking at Banco Promerica.
Alfaro said one common mistake among buyers is focusing only on the monthly payment without considering additional costs such as insurance, maintenance, fuel, or annual taxes like marchamo. These expenses are part of everyday use and should be planned for from the beginning.
During periods of increased market activity—such as automotive fairs—the bank recommends preparing in advance by setting a budget and seeking a prior financial evaluation if possible. “Arriving with greater clarity about financing allows you to compare options, make decisions more confidently and reduce uncertainty during the purchase process,” Alfaro said.
Banco Promerica currently offers financing options including down payments starting at 20 percent and terms up to 96 months. The bank highlights that beyond loan conditions, ongoing support remains essential so customers can make choices aligned with their personal circumstances. “A well-structured loan not only facilitates the purchase but also contributes to financial peace of mind. That is the goal: for the decision to last over time without becoming a burden,” Alfaro concluded.
