Buyer beware! Thai man's second-hand truck had 400,000 baht owing on finance

[AlexRich]

7 hours ago, colinneil said:

How stupid, handing over money before checking with the finance company, totally brain dead thing to do.

These days you can trust nobody, check things out before parting with any money.

So true, but there is a tendency amongst honest people to believe that other people are honest too, and almost an embarrassment to think otherwise lest we offend. We are all fooled in life at times. It never ceases to amaze me the number of experienced and educated people who fall for online bank frauds, or boiler room scammers. To err is human.

Edited November 28, 2018 by AlexRich

[Patriot]

5 hours ago, CharlieH said:

So this guy didnt ask to see the blue book etc when inspecting the vehicle?

Surely that step one beforre even checking the vehicle, and then those immortal alarm bell words "transfer money (deposit a large sum)" .........sorry but he deserved everything that followed, how silly can he be !

Agreed Charlie, but the buyer was probably doing flick-flacks up and down the Soi having secured his 30,000 baht discount

[dcnx]

If Thais doing stupid things are news now, we should brace ourselves for an onslaught of news.

[BritManToo]

1 hour ago, watcharacters said:

 

Please state the official name of the "Thailand vehicle registration office".

 

Always so much confusion about this..

 

It's called "The Provincial Land Transport Department" in Chiang Mai.

Just across from the Holiday inn.

Sorry, not allowed to write Thai script with the official name, can only write the translation.

[connda]

8 hours ago, webfact said:

The matter is in the hands of police

The matter should be in the hands of the court.  The contract was entered based on incomplete information as the seller should have disclosed the lien on the vehicle.  It's a contractual issue and should be in front of a judge who handles contract law.

[connda]

19 minutes ago, BritManToo said:

It's called "The Provincial Land Transport Department" in Chiang Mai.

Just across from the Holiday inn.

Sorry, not allowed to write Thai script with the official name, can only write the translation.

Bloody well boggles the mind sometimes, doesn't it? 

[Formaleins]

8 hours ago, BritManToo said:

I thought you didn't hand over cash until at the vehicle registration office with the book.

That is what normal people do, we are talking about a greedy swine here, who thought he was getting a deal too good to be true, and as luck would have it, it was - The greedy swine got what he deserved.

[impulse]

21 minutes ago, Formaleins said:

8 hours ago, BritManToo said:

I thought you didn't hand over cash until at the vehicle registration office with the book.

That is what normal people do, we are talking about a greedy swine here, who thought he was getting a deal too good to be true, and as luck would have it, it was - The greedy swine got what he deserved.

 

But with this bunch of TVF Thai bashers, we'd be reading how stupid the guy was to carry that kind of cash when he got mugged on the way to the DLT. 

 

Seems you can't win...

[wvavin]

Stupid vs Stupid but one has to be a winner.

[dallen52]

Thai screws a Thai... on car deal.

 

Is there a message in that for farang?

[PerkinsCuthbert]

9 hours ago, bluesofa said:

It probably makes them a groom or a jockey.

Probably looked after the Smiling Kwaay before it was bought.

[impulse]

16 minutes ago, dallen52 said:

Thai screws a Thai... on car deal.

 

Is there a message in that for farang?

 

Sure. 

 

Google "Craigslist scams" and see that it happens all over the world.  The mechanics of the scams varies by country, customs and the systems for payment and title transfer, but scamming honors no national boundaries.

[hotchilli]

10 hours ago, colinneil said:

How stupid, handing over money before checking with the finance company, totally brain dead thing to do.

These days you can trust nobody, check things out before parting with any money.

Exactly... check first before parting with any cash... what the hell has having a stable job got to do with anything?

but as far as the balance to the seller goes. he can go <deleted> himself

[rott]

What a <deleted>, hope he does time and plenty of it.

[djayz]

5 hours ago, BestB said:

Not too sure where you get your idea on prices but 600K for newish model is hardly A LOT

 

Secondly again, EVEN if assuming buyer is telling the truth, bank would not transfer finance without approving the new owner and new owner would have been made aware of the amount owed

 

You can get Mazda new for 600k? yeah, basic 2 door model and this model does not look as basic, but more like 980 000 baht model

 

Look at the rims and rubber, this alone worth easily 50 000 if not more

Ah yes! I see now. The rims and rubber make all the difference... 

[BestB]

1 minute ago, djayz said:

Ah yes! I see now. The rims and rubber make all the difference... 

adds value ????

[bristolgeoff]

Without the green book and check if money is owed on it. Give him nothing until you do it

[jessebkk1]

41 minutes ago, djayz said:

Ah yes! I see now. The rims and rubber make all the difference... 

You should do some research on the news before commenting, it helps give a balanced opinion of things.

 

If that car is a 2016 upwards model full option, then the price as we speak is about 600,000 Baht for a good price, Brand new was 980k upwards. There is no story here apart from maybe if the buyer is saying the seller lied about how much he had to pay after he paid 200k.

 

   He got the truck for basically what the going price in market is, if that truck is really what he wanted,he wouldnt have gotten it much more cheaper than that.

 

  

[gk10002000]

Two things.  1) obviously the buyer should have done some more checking, clear title, etc.  2)  the debt of the seller does NOT transfer to the buyer.  now the finance company may try to re-possess the vehicle but that is a different matter.  There is no way, even in Thai so called law that the finance debt itself is transferred upon the sale, which was an illegal sale since the seller did not have authority to sell the vehicle since the finance company still had the title

[BestB]

3 minutes ago, gk10002000 said:

Two things.  1) obviously the buyer should have done some more checking, clear title, etc.  2)  the debt of the seller does NOT transfer to the buyer.  now the finance company may try to re-possess the vehicle but that is a different matter.  There is no way, even in Thai so called law that the finance debt itself is transferred upon the sale, which was an illegal sale since the seller did not have authority to sell the vehicle since the finance company still had the title

Seller does not need authority to sell the car. Selller can sell at any time . Just loan must be  repaid.

 

Banks do not automatically transfer loan with a car. New person must be approved by the bank and sign all

the docs .

 

Buyer could have refused to accept finance , file a police report and get his money back.

 

I think buyer is pissed off because he thought he is getting a car for half it’s value and was most likely going to resell it at a profit.

 

But in the end of the day, he got the car for its current market value.

[happy chappie]

8 hours ago, watcharacters said:

 

 

Thanks mate for your post.

 

You have a special life in the "village"

 

Good for you.  

 

Reports on the village are always welcomed.

 

I'm just being being observant of my surroundings thanks mate.as for reports on the village its rice and sugar cane harvest and its party time.

Edited November 28, 2018 by happy chappie

[9653]

23 hours ago, Dmaxdan said:

I always thought that the blue book was in the possession of the finance company until the loan was paid off. If that is correct then how could the vehicle owners name be hanged without the book irrespective of how much money had changed hands?

And how come the seller is not responsible for the debt, having signed the contract,  but the byer is now responsible, never having signed a contract for the car. 

is there a clause in the contract,  that any new owner is made responsible for the ongoing debt? 

Also,  is there a clause in the contract that the car can not be sold on without the consent of the finance company? 

Also,  is the selling of the car, without telling the new owner about the debt, not a criminal offence? 

If yes,  than it's a blessing that the seller has a stable job. 

( unless he gets thrown into jail )

[Jimbo1964]

Trust no one. A good deal that sounds too good to be true, normally is.

[overherebc]

14 hours ago, BestB said:

adds value ????

But you have to keep up with the differences. The feel is totally different from standard rims and rubber when you kick them. If you're not aware of that you can be easily fooled.