First-Car contemplation | Bangkok Post: business

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First-Car contemplation

Government scheme to help novice buyers has drawn varied, and sometimes confused, response from the public

Published: 26/09/2011 at 02:35 AM
Newspaper section: Business

Seree Kraipilas, a 30-year-old industrial engineer, for years has looked into buying a seven-seat passenger vehicle as his first car.

New-car showrooms are busy but used-car dealers say their premises are nearly empty.

Now, with the Pheu Thai-led government's first-car tax rebate, he says he may consider a model that fits the scheme.

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About the author

: Writer: Nareerat Wiriyapong; Position: Business Reporter

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banmebkk
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Discussion 1 : 26/09/2011 at 04:18 PM1
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The problem with this scheme is that it will hurt the low wage consumers by helping them buy a car. Why? For example - the consumer in this article makes 26,000 baht per month. If he adds insurance and other cost of maintaining the car, he can hardly support his family. Half of his salary will go into paying for the car loan installments, this is just dangerous financial planning. This is also why the US banking sector collapse due to the house loans that millions can't pay off and have compounded interest on top. Clinton allowed easy loans so everyone can afford a house, big mistake.

There is a good reason why credit card company approves people before giving them credit to use. PTP is giving out too many easy loans and trying to help people afford things that are out of their financial means.
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