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If your car is stolen while on hire purchase you can stop paying installments, says Thai lawyer

A leading lawyer has said that most Thais believe that if a car is being bought on hire purchase the buyer has to continue paying for it by keeping up the instalments.

car-theft-thailandWirat Wangpitiphanit told Daily News Online that this is not the case, reports Daily News.

If a vehicle is stolen the purchaser should get a police report and give it to the finance company. Insurance – which is compulsory in HP agreements – will cover it.

The buy does not need to pay any more installments. If the vehicle is found the installments then must continue.

Lawyer Wirat said on his page @tanaiwirat.com that this is one of the common misconceptions that Thais have about the law.

Thai Visa / Daily News

thai visa



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