Bank of Thailand to Revise Joint Lending Criteria for Car Loans

The Bank of Thailand is set to revise the criteria for joint lending to include family income, making it easier for individuals to purchase a car. This change is expected to be completed by the end of the year.

Impact on the Automotive Industry

Motorcycle dealers, such as JKH Chiamkimha, have pointed out that finance companies are not providing loans, instead asking for a lower down payment, resulting in a significant decline in sales.

Banking Industry Response

Five major banks have accepted the Bank of Thailand’s decision to modify the criteria for joint lending for car loans. This move is expected to boost car sales and provide more opportunities for individuals to purchase vehicles.

Relaxing Joint Loan Criteria

The National Bank is preparing to relax the joint loan criteria to combine family income, solving the problem of insufficient income to secure a loan. This change will make it easier for families to purchase cars.

Revised Criteria for Car Loans

The Bank of Thailand has revised the criteria for car loans, allowing for joint loans with family members and relatives. This change is expected to increase car sales and provide more opportunities for individuals to purchase vehicles.

Keywords: Bank of Thailand, joint lending, car loans, family income, automotive industry, banking industry.