Why Private Cars Gets Higher Loanable Amount Compared to Taxi or Public Vehicles

Taxi Loan Compared to Private Car Loan

Owners of public vehicles or yellow plate cars end up getting a lower loanable amount and this is a fact. But very few vehicle owners would understand and comprehend with this issue. A client of mine a couple of days ago got to the office to apply for 500k loan for her Toyota Avanza 2012 taxi (yellow plate) with LTFRB franchise and guess what? The loanable amount was surprisingly very low at only 350k estimate loan proceeds gross compared to a previously approved private car loan using the same year model of Toyota Avanza 2012 which yielded more than as much as 420k.