BANGKOK: -- The number of first-time car buyers who have failed to continue paying instalments to leasing companies has increased sharply from 10-20 cases last year to over 500 cases this year or a jump of 25 folds, said Mr Somchai Poonsawat, director-general of Excise Department.
He added that there are over 12,000 cases at risk of defaults and their cars seized by leasing companies after the car buyers under the government-sponsored first-car purchase programme have failed to pay several instalments.
As for the buyers who have already claimed tax refund from the Excise Department and have defaulted their instalment payments, Mr Somchai said his department had asked the Comptroller Department to file lawsuits against 21 buyers to reclaim the excise tax.
Although the first car purchase programme ended in 2012, there are about 114,000 potential buyers who have entered the programme but who have not exercised their right due to financial constraint, Mr Somchai said that they could still exercise their right to buy their first cars.
Altogether 1.25 million people have registered to enter the programme and 1.06 million of them have bought their first cars and have claimed tax refund from the government.
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