Renault Duster Buyers Get 36-Month Deal

Negin Khodro, the local dealership of imported Renault vehicles, has announced a new payment option for the Duster model.

Originally priced at just under 900 million rials ($25,000), the Duster’s price has crept up month-on-month since its introduction in 2014. The lowest price of the car now stands at 10.8 billion rials ($30,000) for the basic two-wheel-drive model and up to 11.9 billion rials ($33,000) for the four-wheel-drive model.

The new payment options, which the dealer claims will make the car affordable for Iranian car buyers, are a down payment of 610 million ($16,900) for the 2WD 2016 model, and a finance agreement of 500 million rials ($13,800) payable over 12- (interest-free) installments, 24- (with 18% interest) or 36-months (with 21% interest) respectively.

The deal for the 2WD 2017 model is a down payment of 736 million rials ($20,000), with a loan of 400 million rials ($11,100) payable over 12 (interest-free) installments or 24 months (with 18% interest). The total cost of this car should be 11.1 billion rials ($31,000).

The long-term payment plan for the 4WD model will cost the buyer 720 million ($20,000) rials upfront, with a 500-million-rial ($13,800) loan, interest-free over 10 months costing 11.9 billion rials ($33,000) in total.

The 2017 Duster model is expected to be the last batch imported from Dacia’s Romania factory, as Renault said it hopes to produce 150,000 vehicles locally by Q4 2017, with the Renault Duster and Symbol models being the first to roll off a local production line.

The future prices of Duster model are also expected to fall to a much more buyer-friendly level, as currently many would-be car buyers are put off by the obscene “affordable” prices being charged.

The new production line would counter the overpriced secondhand vehicle market and open up the market share further for Renault.

It is estimated that the new price for the Duster should be below 700 million rials ($20,000) with some people suggesting the future prices may be even lower than that, once local production of auto parts kicks in.