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Car import tripled in last five years

NewsDesk
Sat, 01 Sep 2018

Car import tripled in last five years

NewsDesk
Sat, 01 Sep 2018

Car import tripled in last five years

NewsDesk
Sat, 01 Sep 2018
Cars are on the dock
In FY 2012-13, only 7,353 reconditioned cars have been imported in Bangladesh but the number has increased threefold to 20,149 in FY 2016-17. According to Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), around 11,476 cars have been imported in the last six months (July 2017- December 2017).
Easier and more flexible car loan facilities, higher disposable income of middle class and lack of quality public transport system in the country are the probable reasons for this car sales growth. Car loan interest rate was 14-15% on average in 2014 or 2015 whereas today it has come down to 10-11%.
In general, banks pay 50% of the car’s price but banks retain the ownership until the full loan and interest amount has been paid. In this way, banks feel more secure with the loan they pay as they can take measure if the loan is defaulted and as a result there are very few car loan defaulters.

Car import tripled in last five years

Car import tripled in last five years

NewsDesk
Sat, 01 Sep 2018
Cars are on the dock

In FY 2012-13, only 7,353 reconditioned cars have been imported in Bangladesh but the number has increased threefold to 20,149 in FY 2016-17. According to Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), around 11,476 cars have been imported in the last six months (July 2017- December 2017).

Easier and more flexible car loan facilities, higher disposable income of middle class and lack of quality public transport system in the country are the probable reasons for this car sales growth. Car loan interest rate was 14-15% on average in 2014 or 2015 whereas today it has come down to 10-11%.

Easier and more flexible car loan facilities, higher disposable income of middle class and lack of quality public transport system in the country are the probable reasons for this car sales growth. Car loan interest rate was 14-15% on average in 2014 or 2015 whereas today it has come down to 10-11%.

In general, banks pay 50% of the car’s price but banks retain the ownership until the full loan and interest amount has been paid. In this way, banks feel more secure with the loan they pay as they can take measure if the loan is defaulted and as a result there are very few car loan defaulters.








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Car import tripled in last five years
Cars are on the dock

In FY 2012-13, only 7,353 reconditioned cars have been imported in Bangladesh but the number has increased threefold to 20,149 in FY 2016-17. According to Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), around 11,476 cars have been imported in the last six months (July 2017- December 2017).

Easier and more flexible car loan facilities, higher disposable income of middle class and lack of quality public transport system in the country are the probable reasons for this car sales growth. Car loan interest rate was 14-15% on average in 2014 or 2015 whereas today it has come down to 10-11%.

Easier and more flexible car loan facilities, higher disposable income of middle class and lack of quality public transport system in the country are the probable reasons for this car sales growth. Car loan interest rate was 14-15% on average in 2014 or 2015 whereas today it has come down to 10-11%.

In general, banks pay 50% of the car’s price but banks retain the ownership until the full loan and interest amount has been paid. In this way, banks feel more secure with the loan they pay as they can take measure if the loan is defaulted and as a result there are very few car loan defaulters.