Executives urge pricier loans for used cars, bikesPeople browse deals for used cars at an auto fair held at Bitec. Recently the Office of the Consumer Protection Board proposed a maximum rate of 15% per year for all types of vehicle loan products, including new car loans, used car loans, and motorcycle loans. As a result, he said the committee plans to ask the government to raise the ceiling interest rate for used car loans to 20% per year and motorbike loans to 36% per year. The group has no issue with the maximum rate for new car loans being 15%. The JSCCIB's proposed 36% interest rate ceiling for motorcycle loans is in line with the business nature and risk, he said.

Source: Bangkok Post December 09, 2021 03:26 UTC