Phuket taxi drivers protest loan repayments

[rooster59]

Phuket taxi drivers protest loan repayments

By Eakkapop Thongtub

 

About 80 drivers gathered at Sapan Hin today, repeating their call for a moratorium on finance repayments. Photo: Eakkapop Thongtub

 

PHUKET: Phuket tourism transport drivers, including drivers of taxis and tour vans, today (Aug 22) held another small protest at Sapan Hin to call for the finance division of Toyota not to enforce loan repayments for the vehicles, which may see the vehicles repossessed.

 

About 80 drivers gathered at Sapan Hin today, repeating their call for a moratorium on finance repayments of at least three months, but hopefully extended up to six months or even a year.

 

Narong Chutong, representing the drivers, today presented a petition of more than 1,100 members in the group calling for a reprieve.

 

Full story: https://www.thephuketnews.com/phuket-taxi-drivers-protest-loan-repayments-77082.php

 

-- © Copyright Phuket News 2020-08-23

 

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[Sharp]

Whilst I sympathise with anyone in debt due to this flu virus I can't help thinning out the herd would be a good thing for Thailand. 

[Matzzon]

If you take a loan, you must always be able to pay it back in some way. The loan is there, there contract is signed and the entity that gave you the loan also have a hard time at present.

[AbeNormal]

1 hour ago, rooster59 said:

PHUKET: Phuket tourism transport drivers, including drivers of taxis and tour vans, today (Aug 22) held another small protest at Sapan Hin to call for the finance division of Toyota not to enforce loan repayments for the vehicles, which may see the vehicles repossessed.

it is hardly Toyotas problem, your government should be offering assistance but they are more interested purchasing submarines that they have no use for

[Youlike]

6 minutes ago, AbeNormal said:

it is hardly Toyotas problem, your government should be offering assistance but they are more interested purchasing submarines that they have no use for

Those silly things they call tuktuk's in Phuket are they from Toyota? They have a minimum charge of 200 baht for 150 meter distance. It's time the Phuket taxi maffia gets sorted.

[ChipButty]

11 minutes ago, Youlike said:

Those silly things they call tuktuk's in Phuket are they from Toyota? They have a minimum charge of 200 baht for 150 meter distance. It's time the Phuket taxi maffia gets sorted.

The minivans are from Toyota but the tuk tuk are Daihatsu and now some Suzuki 

[sungod]

Based on what I read on here about Phuket's taxi drivers/prices, zero sympathy.

[Somtamnication]

Actually, not only them. Myself and others have posted on TLT (Toyota Leasing) FB page to give us 3 months more of no payments. They gave us 3 months, which ended in June and had to pay in July.

 

This same finance company gave Honda and Ford buyers 6 months. 

 

Every time they post new car loans on their page, they are deluged with PLEASE GIVE ME 3 MORE MONTHS, no jobs, no salaries.  Pathetic company.

 

[Rimmer]

A couple of off topic posts have been removed

[Bender Rodriguez]

what did they do with all the money the got from 2000 baht taxi rides (valued at max 300 baht) a pop x ... a day, for yEARS in the good times

[Deli]

Where is the riot police, water cannons and rubber bullets ? This is a not permitted protest.

Arrest the leaders now !

[RichardColeman]

Fully expect when this ends for there to be an entire raft of PPi like claims of 'was the government responsible for you losing your business, your job or your house' coming to your phone on voice mail and chicken pox like ads on here.

[Geoffggi]

7 hours ago, rooster59 said:

Phuket taxi drivers protest loan repayments

Phuket taxi drivers only know robbing people not paying what they owe ......................LOL

[PETERTHEEATER]

These  vehicles should have been recalled moths ago to have the broken meters repaired.......

[hotchilli]

7 hours ago, Matzzon said:

If you take a loan, you must always be able to pay it back in some way. The loan is there, there contract is signed and the entity that gave you the loan also have a hard time at present.

Too true, they took the loans to buy transport for a business venture that is now dead... tough!

My friends daughter just had her Mazda 3 repossessed because she can't repay the loan.. she hasn't paid the bank for her town house for the last 4 months either.

Living on credit is always risky, some you win some you lose.

[Dap]

Of course ... what's a loan? except something to completely ignore once the money is acquired. Where can I sign up?

[Matzzon]

6 minutes ago, hotchilli said:

Too true, they took the loans to buy transport for a business venture that is now dead... tough!

My friends daughter just had her Mazda 3 repossessed because she can't repay the loan.. she hasn't paid the bank for her town house for the last 4 months either.

Living on credit is always risky, some you win some you lose.

There once was a very wise person that told me, the only way to be fairly sure that you can repay a loan is to always know that you have a buffer of equal to a minimum of two years installment and interest x 2.

I have always taken that line in life, and it has never failed. 

[hotchilli]

1 minute ago, Matzzon said:

There once was a very wise person that told me, the only way to be fairly sure that you can repay a loan is to always know that you have a buffer of equal to a minimum of two years installment and interest x 2.

I have always taken that line in life, and it has never failed. 

My old-man said apart from your home/mortgage live out yer ar*e pocket... 

Save up and what you buy is yours, no-one can take it away.

[spidermike007]

8 hours ago, Matzzon said:

If you take a loan, you must always be able to pay it back in some way. The loan is there, there contract is signed and the entity that gave you the loan also have a hard time at present.

The Thai banks? I doubt many will feel compassion for them. They offer one of the highest loan spreads in the world. Their profitability is significant. Who cares about them? Not me. Not many! 

[Matzzon]

8 minutes ago, spidermike007 said:

The Thai banks? I doubt many will feel compassion for them. They offer one of the highest loan spreads in the world. Their profitability is significant. Who cares about them? Not me. Not many! 

That´s a very irresponsible way to look at things. I sincerely hope that you do not have any loans in a Thai bank, but on the other hand it does not sound like you have that. Clearly your comment is out of the lack of experience. The right thing to do when you consider taking a loan, is to know what you are signing up for. With that said, it means that you are accepting and agreeing to the terms of the loan.

 

To do like you say, and feel no compassion for them has absolutely no bearing. Having compassion for a bank has nothing to do with signing a loan and to follow the terms of the same. If you like them or no like them has nothing to do with it.

The fact is that they are losing money during the pandemic as well as people are losing their livelihood and work. Both parties want to have  the best piece of the cake, but at the end it´s the terms of the loan that reigns.

[Matzzon]

1 hour ago, hotchilli said:

My old-man said apart from your home/mortgage live out yer ar*e pocket... 

Save up and what you buy is yours, no-one can take it away.

Truly a wise man!

[greeneking]

1 hour ago, spidermike007 said:

The Thai banks? I doubt many will feel compassion for them. They offer one of the highest loan spreads in the world. Their profitability is significant. Who cares about them? Not me. Not many! 

It is my experience that Thai banks benefit from a much higher spread than many other countries.  If you are seeking a loan in Thailand you do not have much of a choice but to pay up or don't start the business, buy the car, get the children a better education etc....

I agree there is a choice, but if the banks were not so greedy the risk of making that choice would be less and they would have a better chance to improve their lives.

[spidermike007]

18 hours ago, Matzzon said:

That´s a very irresponsible way to look at things. I sincerely hope that you do not have any loans in a Thai bank, but on the other hand it does not sound like you have that. Clearly your comment is out of the lack of experience. The right thing to do when you consider taking a loan, is to know what you are signing up for. With that said, it means that you are accepting and agreeing to the terms of the loan.

 

To do like you say, and feel no compassion for them has absolutely no bearing. Having compassion for a bank has nothing to do with signing a loan and to follow the terms of the same. If you like them or no like them has nothing to do with it.

The fact is that they are losing money during the pandemic as well as people are losing their livelihood and work. Both parties want to have  the best piece of the cake, but at the end it´s the terms of the loan that reigns.

I get that. And yes, thank God I do not have any loans with a Thai bank. If I did, I would meet my obligations, as I always do.

 

I was expressing a general sentiment. What I said had nothing to do with the laws or legal obligations. I think millions feel the same way I do. Thai banks, while efficient and profitable, are a bit over the top when it comes to a lack of competitive rates for loans, the spread they employ, and the degree to which they insist on collateral and qualification. 

[Oldie]

On 8/23/2020 at 7:17 AM, Matzzon said:

If you take a loan, you must always be able to pay it back in some way. The loan is there, there contract is signed and the entity that gave you the loan also have a hard time at present.

I don't see it like this. They took a loan but Corona wasn't their fault. Nobody expected anything like this. For sure the banks could act according the signed contract. But it wouldn't help anyone. 

[Matzzon]

1 hour ago, Oldie said:

I don't see it like this. They took a loan but Corona wasn't their fault. Nobody expected anything like this. For sure the banks could act according the signed contract. But it wouldn't help anyone. 

The banks and the world economy did not expect this either. How far do you want to take it?

 

All the companies that have to let people go, did not expect the virus either. What should they do? Pay from their profits to keep people that they do not have job for?

Edited August 24, 2020 by Matzzon

[Oldie]

5 hours ago, Matzzon said:

The banks and the world economy did not expect this either. How far do you want to take it?

 

All the companies that have to let people go, did not expect the virus either. What should they do? Pay from their profits to keep people that they do not have job for?

Sure the banks could act according the contracts. But in this situation they would kill themselves. The problem of non performing loans will get worse during the next months. If thousands of taxi drivers will get bust it will be very sad. But if the banking system starts to collapse it will be a tragedy for everyone. 

[Loles]

..... and where were they spend those lot of money which they seized from turists ???