AUTOMOBILES
JMT seizes opportunity of overstretched car buyers
- Published: 22 Dec 2012 at 00.00
- Newspaper section: Business
JMT Network Services, the SET-listed debt-collection service provider, forecasts 20% of the leasing for the 1 million vehicles under the government's first-time car buyer scheme will turn into bad debt.
"Bad debt will begin to appear around the middle of next year," said chief executive Piya Pong-acha.
He said the company estimates 20% of people will be able to pay in instalments and consequently lose the tax incentive from the Excise Department, as the condition for a tax rebate under the scheme is at least five-year ownership of their first car.
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