Small car deals ??

[cornishcarlos]

A friend of ours wants to buy a small car. She doesn't earn a great deal, maybe 10k+ per month and has about 30k saved up for a deposit.

We will help her out if we can, either with extra toward the deposit or I might even buy a small 2nd hand car and let her pay it off monthly ??

My question, has anyone come across any really good deals on new cars ? I did see a special for the 1.2 MT Nissan March for 369k but think that is cash price...

Don't want her up the eyeballs in debt for the next 7-8 years.

[cornishcarlos]

I'll answer my own question 1st ????

Just saw that Honda are doing the Brio with no down payment and 8,500/month !!

Might be an option is I help her with maybe 3.5k/month...

 

What are the Brio like reliability wise ? I'm guessing they would be economical..

[vogie]

2 minutes ago, cornishcarlos said:

I'll answer my own question 1st ????

Just saw that Honda are doing the Brio with no down payment and 8,500/month !!

Might be an option is I help her with maybe 3.5k/month...

 

What are the Brio like reliability wise ? I'm guessing they would be economical..

For how many months?

 

[cornishcarlos]

Just now, vogie said:

For how many months?

 

 

48 apparently, which works out cheaper than the retail price !!

Maybe I'm reading their site wrong ??

[transam]

16 minutes ago, cornishcarlos said:

I'll answer my own question 1st ????

Just saw that Honda are doing the Brio with no down payment and 8,500/month !!

Might be an option is I help her with maybe 3.5k/month...

 

What are the Brio like reliability wise ? I'm guessing they would be economical..

For 7 years.....?...They all post the monthly cost but it is usually over 7 years with a clause that says 50% of the interest must be paid if things go tits up......

[Henryford]

If she only earns 10k a month how could she afford any car, and run it. In the example above the Brio plus running costs would be more than her total salary.

[cornishcarlos]

11 minutes ago, Henryford said:

If she only earns 10k a month how could she afford any car, and run it. In the example above the Brio plus running costs would be more than her total salary.

 

In the above example, I said I would help her out with maybe 3.5k/month toward the installments.

She has no rent to pay and minimal living expenses, a car is her dream, so why not !!

[cornishcarlos]

16 minutes ago, transam said:

For 7 years.....?...They all post the monthly cost but it is usually over 7 years with a clause that says 50% of the interest must be paid if things go tits up......

 

I went on their calculator and it came up with 8.5k over 48 months ??

[cornishcarlos]

[transam]

7 minutes ago, cornishcarlos said:

Which comes out as 408,00bht....Don't understand that....

[cornishcarlos]

7 minutes ago, transam said:

Which comes out as 408,00bht....Don't understand that....

 

I know... Too good to be true 

[fredob43]

26 minutes ago, cornishcarlos said:

 

I went on their calculator and it came up with 8.5k over 48 months ??

Then she will have fuel tax insurance service +++ how is she going to live even if you help out. Run away don't even think about it.  

Edited May 21, 2019 by fredob43

[transam]

2 minutes ago, cornishcarlos said:

 

I know... Too good to be true 

It says no deposit, so questions must be asked to a mistake over the payment period etc....

[rumak]

no good deed goes unpunished.   but mai pen rai,  i have been punished a few times myself in life

[rumak]

if you co-sign you could be liable for accidents ?   or ?

 

not trying to be negative...... just careful at this point in my life

[cornishcarlos]

I won't be signing for anything, neither will my wife. I was just going to help out with the monthly installments. She can afford 5 or 6k a month.

That's why it might be better to buy a quality used car, with full service history and maybe a bit of warranty left. I've seen a couple examples just 2-3 years old.

No loans for her, well no official loans, couple hundred k spent for me but that's what we did with our old Ranger, the rubber cutter is paying 5k a month for 5 years ????

 

If that Honda deal is correct, it would be worth it, otherwise I'm leaning toward the 2nd hand option...

[transam]

1 minute ago, cornishcarlos said:

I won't be signing for anything, neither will my wife. I was just going to help out with the monthly installments. She can afford 5 or 6k a month.

That's why it might be better to buy a quality used car, with full service history and maybe a bit of warranty left. I've seen a couple examples just 2-3 years old.

No loans for her, well no official loans, couple hundred k spent for me but that's what we did with our old Ranger, the rubber cutter is paying 5k a month for 5 years ????

 

If that Honda deal is correct, it would be worth it, otherwise I'm leaning toward the 2nd hand option...

My friend is now driving a car he bought as a favour for a Thai family member...They got pissed off with paying 5k+ a month...I know you mean well but needs a bit of thinking about...

 

 

[cornishcarlos]

2 minutes ago, transam said:

My friend is now driving a car he bought as a favour for a Thai family member...They got pissed off with paying 5k+ a month...I know you mean well but needs a bit of thinking about...

 

 

 

I'm thinking, don't worry... 

 

At the end of the day, if she gets it on finance then she is responsible for it. If I buy a cheap 2nd hand and she stops paying me, I sell it..

As with our Ranger, we have the green book and a contract with the guy that is paying for it. If he stops paying then we take it back and sell it. Same deal would apply with this girl. She works for us, so technically I'm paying anyway ????

[transam]

I reckon their 8500 over 48 months is actually 84 months, 7 years, which works out a total of 714,000. As the asking price is 495,000 I think I am correct. Our lad was quoted over 600,000 on credit for a 400,000 car over 7 years..

[FritsSikkink]

1 hour ago, cornishcarlos said:

 

In the above example, I said I would help her out with maybe 3.5k/month toward the installments.

She has no rent to pay and minimal living expenses, a car is her dream, so why not !!

So she will have 5K a month to live from if she doesn't insure it, no petrol cost, no repairs in 4 years and no road tax. Think again. 

[Lacessit]

Full insurance for anything in the price bracket quoted is about 15,000 baht a year. Every 10,000 km, the service cost would be 2000 baht.

Thais like new, it's in their DNA. The OP's best bet is to persuade her to accept a looked -after Toyota Vios with service records, because the 1.5 litre engine is bulletproof. Cars like a Nissan March are more questionable, because the jury is still out on whether CVT gearboxes are reliable.

[scubascuba3]

If she only earns 10k a month how could she afford any car, and run it. In the example above the Brio plus running costs would be more than her total salary.

and the cost of insurance, petrol, servicing and any accidents, but if the Op is paying it's fine

[richard_smith237]

Not what the Op wants to hear I'm sure as he seems set on getting his employee her dream transport, but in doing so he would be placing her in Debt which she may find herself having extreme difficult covering given her paltry income. Yes, she'd have her dream car, but she wouldn't be able to afford doing anything with it.. 

 

i.e. 8,500 baht per month payment +500 baht per month petrol, and about 1,250 per month on insurance (about 15000 per year)..  she's already on 9250 baht of her 10,000 baht per month Salary. 

 

The Op suggested he'd pay about 3,500 per month to towards the car - so that would leave her with 4,250 baht per month to live on, that's less than 150 baht per day for food and drink. 

 

It's doubtful that the Op's best intentions are what is best for this young lady. 

 

 

Edited May 21, 2019 by richard_smith237

[jackdd]

With 10k per month she just can't afford a car, no matter what.

Even if she would get a cheap used car, she will have to pay 2-3k per month for the rates. Then another 1000 for insurance. And if she plans to actually use the car and not just park it that's another 1-2k for fuel. For maintenance you can probably calculate at least another 1000 per month.

So in total that's about 5000-7000k per month, more than half of her salary. She should drive a motorbike.

[BestB]

i have been on the market for a car myself and this is what i have learned

 

There are 3 options to buy.

a. used with finance

b. new with finance from dealership

c. new with finance from facebook sales people

 

When you buy used, price appears to be cheaper but interest rate is much higher, and they also want higher deposit

 

Here is example for you.

used ford ranger sale price 700 000 baht

Down 130 000

Monthly 12.800 for 6 years

 

Price for new ford ranger 1029000 baht

down 99000

13500 for 7 years

 

Now onto difference between option b and c

 

Do NOT go through a dealer, internet people give much better deals, plus loads of extra's plus assist in arranging finance and know what is needed.

 

How to find them, do a search in facebook for a car of your liking or a few, after that facebook will automatically feed sponsored ads which show the deals

 

once again, difference between dealer and internet deals

Ford ranger , dealer offer 250 000 down, interest 3.99% from memory around 16000 per month

 

internet sales, down 99 000, and 13500 per month, plus all the extra's interest about the same, but discount of 150 000 baht(covered by ford)

 

Hope it helps and was not too confusing

[Nsp64]

7 hours ago, cornishcarlos said:

 

In the above example, I said I would help her out with maybe 3.5k/month toward the installments.

She has no rent to pay and minimal living expenses, a car is her dream, so why not !!

Why not??

Cos she ain't got no cash.

But you're the dream maker, so away you go

Make sure you've got enough dough for when she defaults.