LTFRB to process TNVS franchise applications for lease-to-own cars

Franchise applications for transport network vehicles services (TNVS) involving “lease-to-own” cars will be processed by the Land Transportation Franchising and Regulatory Board (LTFRB) under certain “conditions,” a top official of the board said Wednesday.

LTFRB Board Member Aileen Lizada told reporters in a press briefing in Quezon City that the board will process applications of around 20,000 to 30,000 vehicles under lease-to-own deals with a car company on condition that previous billing balances must be settled.

“Lease-to-own dapat hindi bigyan ng prangkisa kasi ang nakapangalan diyan ay hindi ‘yung operator or driver. So, in case of accident investigation sino ang responsible?” Lizada noted.

“But, we will allow processing of those lease-to-own cars under certain conditions ... Dapat walang two months na arrears, otherwise, hindi sila papayagan i-process. Kaya nga sabi namin keep your accounts updated,” she said.

LTFRB will prioritize applications “with no concerns ...  Meaning to say the OR/CR (official receipt/certificate of registration) ay nakapangalan sa operator ... ang operator ay ang registered owner,” Lizada said.

That is why applications involving lease-to-own cars are a second priority for the LTFRB.

The regulator is currently processing pending applications for TNVS. It suspended accepting  and processing ride-hailing service vehicles in June 2016.

In February, the LTFRB set a common supply base of 66,750 TNVS units to cover 75 percent of demand.

Lizada said the LTFRB is currently processing pending and new applications to make up for the common supply base.

The common supply base is subject to a review by the board every three months.

There are 59,020 TNVS units plying the roads of Metro Manila based on a reconciled masterlist of the LTFRB. —VDS, GMA News