The latest memorandum from the LTO penalizes owners P 10,000 for using an unregistered vehicle. And since many car buyers opt for low all-in financing (up to 90 percent in the case of some brands) with downpayments as low as P 5,000, dealers are not only facing the higher risk of default.In addition, car buying will change because of the LTOs inefficiencies. Imagine paying for a brand-new vehicle only to be able to drive it out of the dealership 90 days after, when the OR/CR becomes available. Vehicle sales, be it motorcycle, cars, or commercial vehicles, will potentially grind to a halt.