Solon urged assistance to car and motorcycle loan borrowers

Published March 29, 2020, 12:00 AM

by manilabulletin_admin

By Charissa Luci-Atienza

Puwersa ng Bayaning Atleta (PBA) Partylist Rep. Jericho Nograles asked on Sunday, March 29 to show compassion and provide necessary assistance to their driver-partners who are economically dislocated during the enhanced community quarantine.

Rep. Jericho Nograles (Koko Nograles Facebook page / MANILA BULLETIN)
Rep. Jericho Nograles
(Koko Nograles Facebook page / MANILA BULLETIN)

He appealed to the management of the Grab Philippines to step in and ask car dealerships and auto-loan companies to forego amortization collection during this time of national health emergency, and suspend all foreclosures for their partner-drivers.

“Nakikiusap po ako sa Grab na bigyan ng kalinga itong kanilang mga driver-partners. Marami sa kanila ngayon ang problemado na maaaring mabawi ang kanilang mga sasakyan dahil hindi nila ma-update ang payment sa kanilang mga loans,” he said in a statement.

(I am appealing to Grab to show their concern to their driver-partners. Most of them are worried that their cars will be repossessed because they cannot update the payment of their loans.)

“Kung maaari ay makipag-usap ang Grab sa ating mga bangko at sa mga car dealers para matigil muna pansamantala ang kanilang paniningil at huwag munang ilitin ang mga sasakyan kapag hindi sila nakapagbayad,” Nograles said.

(If possible, Grab can talk to our banks and car dealers so that payment of loans will be temporarily be stopped.)

The partylist lawmaker said Grab Philippines “could offer to pay in advance or underwrite the unpaid loans of the driver-partners.”

He noted that many of Grab’s more than 60,000 driver-partners are still paying monthly amortizations and have lost their sole income as a transport network vehicle service (TNVS) provider during the ECQ.

Nograles also asked Grab Philippines to provide financial assistance with zero interest to their driver-partners who can now hardly put food on the table because of economic dislocation.

“Having earned billions of pesos since it started its operation in the Philippines, Grab owes its success to their driver-partners who have capitalized their life savings to purchase vehicles and work for the Grab network,” he said.

“It is just right that Grab should share the risk of their driver-partners,” he added.

Nograles said Grab’s suspension of all foreclosures for their partner-drivers “would be a wise business decision”, citing that it would ensure that they will have enough TNVS operators once the coronavirus disease 2019 (COVID-19) pandemic crisis is over.

“Grab is making tons of money because of the commission that they get from their driver-partners. Therefore it is to their best interest if they can ensure that all their driver-partners will still have their vehicles after this crisis is over,” he said.