The Land Transportation Office (LTO) isn’t just looking to lower the costs of license renewals—the agency has announced it is now eyeing ways to cut the prices of unclaimed impounded vehicles that will be auctioned to the public.
In a recent statement, the LTO said it is studying lowering the administrative fees and other charges for impounded vehicles. This will help reduce the value of unclaimed cars and motorcycles that are set to go up for bids. This is in response to some complaints from some regions that the inoperable and worn-out motorcycles that the agency was auctioning off were just as expensive as brand-new bikes.
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The LTO is also considering the option of just donating the unclaimed and unsold cars to other government agencies and state colleges and universities. Some of these vehicles may still be repaired and used, or the spare parts of these may be used for automotive or land transport courses.
“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,” said LTO chief Teofilo Guadiz III. “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.”
What do you think, readers?
