Flipping used cars, motrrcyles

[50baht]

Flipping as in buying to resell quickly.

Any rules about # of cars you can buy/resell per year ?

If so, anyone know of a farang/Thai Wife team with used car dealer license to ask how to get such a license to resell ?

Thanks

50

[Bkk2061]

I don't think there is a limit to the amount if vehicles you can buy or sell 

 

(at least not at the DLT) 

 

If it's clearly a business venture (like running a  used car tent)  and you are working in it then the department of labour might have something to say, if they knew about it) 

[Gulfsailor]

I always wondered how the used car plots deal with VAT. If they are registered for VAT (which is likely looking at the turnover) they should add VAT to any used car they sell from their own inventory. In Europe there is such a thing as the margin scheme, where only VAT needs to be paid by the company on the margin. But in Thailand they don't have this concept. 

[Bkk2061]

9 minutes ago, Gulfsailor said:

I always wondered how the used car plots deal with VAT. If they are registered for VAT (which is likely looking at the turnover) they should add VAT to any used car they sell from their own inventory. In Europe there is such a thing as the margin scheme, where only VAT needs to be paid by the company on the margin. But in Thailand they don't have this concept. 

There is a small tax paid at the DLT when a vehicle changes ownership

It's based on the declared  sale price but if they don't believe the valuation you write down they have the power to estimate market current value and charge tax based on that

 

If your interested in flipping vehicle, you don't even need to put them in your own name first

 

You can get the seller to sign everything to transfer ownership and use those same paperwork for the new owner so it avoids putting another name in the book and all fees and taxes for the flipper are bypassed 

[50baht]

I thought both parties needed to go in to transfer ? Would that not make it a lot harder to sell if you can't show the buyer you are the legal owner ?

[Bkk2061]

1 minute ago, 50baht said:

I thought both parties needed to go in to transfer ? Would that not make it a lot harder to sell if you can't show the buyer you are the legal owner ?

If the power of attorney form is signed and you have a signed copy of the original owners id card then he doesn't need to be present 

 

I have bought many  this way over the years

 

Adding an extra name in the ownership book will not benefit anyone except the DLT who get the transfer fees

 

Even the new owner would probably rather own a car that's been he's the second owner than the third etc 

[50baht]

Thanks,

Any idea on how someone with Thai wife could open a used car/rental lot ?

[TheFishman1]

I was in the car business many yrs if you are not Thai good luck   TIT

[PerkinsCuthbert]

Unless you have considerable experience, a good network of contacts, the patience to sit on your hands when there are no buyers for days and weeks and a protective Thai godfather, I'd say try something else. Have you seen the number of cars parked in the tent dealers yards, waiting for someone to love them?

[catman20]

14 hours ago, 50baht said:

Thanks,

Any idea on how someone with Thai wife could open a used car/rental lot ?

you must need your brains tested to deal with anyone here in business Thai or farang

[khunPer]

22 hours ago, 50baht said:

Flipping as in buying to resell quickly.

Any rules about # of cars you can buy/resell per year ?

You'll need a Work Permit, as it's becoming a business. One car sale after a reasonable time of use – which time I don't know how long is, but referring to a Phuket Police Chief about the subject of foreigners repairing or working on private items, and selling them – you can sell, but I seriously doubt you can buy and sell several cars within a short time-frame; however, perhaps no authorities will check it...

[Bkk2061]

1 hour ago, khunPer said:

You'll need a Work Permit, as it's becoming a business. One car sale after a reasonable time of use – which time I don't know how long is, but referring to a Phuket Police Chief about the subject of foreigners repairing or working on private items, and selling them – you can sell, but I seriously doubt you can buy and sell several cars within a short time-frame; however, perhaps no authorities will check it...

You can own as many vehicles as you like but it would make sense to not transfer them into your name and go with the new owner and put it straight into his name

 

If you're only flipping a vehicle in a couple of weeks, you don't want your name in the book anyway

 

A lot of bkk big  bike shops do it this way and it works well but competitors are fierce in this market

 

If you check the classifieds all day you will see the same guys advertising lots of similar vehicles (they buy up anything that's underpriced immediately and flip them) 

 

Google " max singburi" 

 

He buys and sells loads of bikes monthly from all over the country and its people like him and his company you will have to compete with 

[50baht]

4 hours ago, catman20 said:

you must need your brains tested to deal with anyone here in business Thai or farang

Brain was tested one evening on a C.A.T scan machine @ Pattaya/Bankok hosp. No leaks.

I still would like to buy and sell cars in Thailand. Any "How to Books" out there specifically for Thailand. Can be written in Thai.

Have Thai wife. I need something to do.

50

[khunPer]

5 hours ago, Bkk2061 said:

You can own as many vehicles as you like but it would make sense to not transfer them into your name and go with the new owner and put it straight into his name

 

If you're only flipping a vehicle in a couple of weeks, you don't want your name in the book anyway

 

A lot of bkk big  bike shops do it this way and it works well but competitors are fierce in this market

 

If you check the classifieds all day you will see the same guys advertising lots of similar vehicles (they buy up anything that's underpriced immediately and flip them) 

 

Google " max singburi" 

 

He buys and sells loads of bikes monthly from all over the country and its people like him and his company you will have to compete with 

But it's still a business, and therefore in principle illegal without a Work Permit. What if some gets disgruntled or envious, and report it to Immigration..?

[50baht]

4 minutes ago, khunPer said:

But it's still a business, and therefore in principle illegal without a Work Permit. What if some gets disgruntled or envious, and report it to Immigration..?

Yes I understand Work Permit. Should not be a problem with My Thai spouse and a couple of grease monkeys. 

Any farang car salesmen or dealers out there ?

 

[Bkk2061]

7 hours ago, Bkk2061 said:

You can own as many vehicles as you like but it would make sense to not transfer them into your name and go with the new owner and put it straight into his name

 

If you're only flipping a vehicle in a couple of weeks, you don't want your name in the book anyway

 

A lot of bkk big  bike shops do it this way and it works well but competitors are fierce in this market

 

If you check the classifieds all day you will see the same guys advertising lots of similar vehicles (they buy up anything that's underpriced immediately and flip them) 

 

Google " max singburi" or "breeze big bike" 

 

He buys and sells loads of bikes monthly from all over the country and its people like him and his company you will have to compete with 

 

[catman20]

13 hours ago, 50baht said:

Brain was tested one evening on a C.A.T scan machine @ Pattaya/Bankok hosp. No leaks.

I still would like to buy and sell cars in Thailand. Any "How to Books" out there specifically for Thailand. Can be written in Thai.

Have Thai wife. I need something to do.

50

you need something to do ? try soi 6 it will be a lot more fun and a lot cheaper 

[overherebc]

 i know 2 guys who started doing it and gave up. One within a year and the other after 18 montbs.