LTO eyeing ways to lower impounded vehicle auction prices
MANILA, Philippines — The Land Transportation Office (LTO) on Tuesday said it is studying the possibility of lowering the fees of unclaimed impounded motor vehicles (UIMV) to reduce auction prices.
Attendees at the auction and online commenters balked at the LTO’s high prices for UIMVs. Some said they would instead buy a new car than an auctioned one because the price difference is negligible.
“We will study the possibility of coming up with a fair assessment of a vehicle and its overall condition and in consideration of other factors such as storage. By doing so, we hope to come up with a fair and reasonable market value that will serve as the floor price of an auctioned vehicle to make it more appealing to bidders,” said LTO chief Tefilo Guadiz III in a statement.
Guadiz explained that the agency is now looking into the provisions of Department Order No. 93-693 series of 1992 regarding the “Revised Schedule of Administrative Fees and Charges of the Land Transportation Office dated 13 November 1992” particularly on the impounding fee and charges.
The provision sets the impoundment price at P100 and the storage fee at P15 each day.
“A List of Unsettled Violations pertaining to each impounded motor vehicle, including the corresponding fines and penalties, shall be secured from the Traffic Adjudication Service (TAS) or the Office performing adjudication functions at the Regional Offices. This shall serve as [the] basis for the floor price in the public sale,” Guadiz said.
Article continues after this advertisementGuadiz said one option is to seek the advice and expertise of qualified technical personnel from government agencies such as the Technical Education and Skills Development Authority (Tesda) to help determine the working condition and roadworthiness of UIMVs before they are auctioned.
Article continues after this advertisementAnd if a vehicle for auction remains unsold, the LTO said it will also look into donating any unsold vehicle to any government agency like Tesda and state colleges and universities, where it can still be put to good use. The vehicle can be repaired and restored to good working condition, or the spare parts can be used as manpower training for its Automotive and Land Transport courses.
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