As usual, the end of the year is the time when banks massively auction off valuable assets to pay off debts, most of which are real estate, residential land, construction land use rights, etc. attached assets… . Last week alone, the entire system of Bank for Agriculture and Rural Development – Agribank, issued 33 notices of property auctions. Similarly, 28 news related to asset auction were posted by BIDV in the last month of the year.

Banks accelerate debt collection, massively sell luxury cars

Besides real estate, banks also sell many luxury cars to recover debts. Accordingly, VIB bank is selling a 2015 Lexus RX350 for VND 2,365 billion. The bank thinks that the price offered is quite cheap because the market price of this car is about 2.5 billion VND. Before that, VIB also had to repeatedly reduce the price of models like BMW and Mercedes to be able to successfully liquidate. In addition, VIB bank is also selling many other models, notably the 2013 Land Rover Range for sale with a starting price of 1.3 billion VND or the 2017 Mercedes-Benz C200 for 990 million VND, Mazda The 2019 CX-8 costs 876 million VND, the 2018 Peugeot 3008 costs 845 million VND, etc.

Besides the listed cars, VIB is also selling a series of other luxury cars with negotiable prices such as 2014 Mercedes-Benz C300, 2019 Mercedes C200, 2020 BMW 530I and 2014 BMW 320I.

It is known that VIB is the bank that has many cars to liquidate to handle bad debts up to hundreds of units. Among them, there are cars for sale for just over 100 million VND, but the popular price for sale still ranges from 300 to 500 million VND/car.

Recently, VietinBank has offered to liquidate a Mercedes Benz E200 manufactured in 2015 with a starting price of VND 790 million. In addition, this bank is also selling a 2015 Audi Q5 with a price of 920 million VND or more. This is the property of Red Sun International Trade Investment Joint Stock Company.

Also related to the sale of luxury cars to recover bad debts, TPBank is selling a Mercedes C250 for only VND 480 million, Toyota Innova Venture automatic version 2018 with a starting price of VND 594 million. Similar to VIB, TPBank currently has a lot of cars for sale and liquidation to handle bad debts.

Although the selling price of cars offered by banks is lower than the market price, according to car dealers, it is not easy for banks to handle these assets because the new car price has many incentives and promotions. , in addition to a lot of support from airlines, agents and even banks.

Meanwhile, users who buy liquidated cars from banks will not be able to test drive, but only come to see and check the quality at the parking lot, can invite car mechanics to come and see, but it will not reflect all the quality. quantity. Liquidated vehicles usually have a storage period of 3 to 6 months, even years without being operated, so it will be difficult to avoid breakdowns or errors that cannot be detected by the naked eye.

The sale of collateral is one of the last options to handle the debt when the borrower is no longer able to pay. However, with assets of great value or the starting selling price being advertised too high compared to the common ground, banks often have to bid many times and lower the price to liquidate.

Tu Truong (Tuoitrethudo)