Published February 15, 2021, 5:32 PM
The Department of Trade and Industry will require motor vehicle dealers to allow outright cash mode of payment as an option amid complaints that buyers are forced to pay on installment basis only where interest rate is usuriously high.
DTI Secretary Ramon M. Lopez said at the Senate hearing by the committee on accountability of public officers and investigations or the Blue Ribbon chaired by Senator Dick Gordon that DTI will come out with a Department Administrative Order (DAO) or a Joint Memorandum Circular (JMC) to address complaints on installment payment basis only in the purchase of all kinds of motor vehicles.