Eco-car loans raise concern
Lax conditions may lead to higher NPLs
- Published: 11 Dec 2012 at 00.00
- Newspaper section: Business
Despite the overwhelming success of the government's first-time car buyer scheme, the Thai Hire Purchase Association is concerned about the quality of eco-car loans.
Chairman Isara Wongrung said market leaders in the auto loan sector have eased conditions for finance, allowing the eco-car segment to expand its market share under the first-car programme.
Down payments of less than 20% of the car price form a key strategy to attract buyers with low ability to meet the down payment and monthly debt repayments.
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