used cars everywhere

[ozz1]

I noticed there are more used cars than I have ever seen in the yards in issaan probably repossessed  is this a sign of things to come?

[Don Mega]

Could be trade ins.

[Lacessit]

The banks and finance companies probably own most of them.

What strikes me is all these rows of cars lined up with for sale signs, with nary a person kicking the tires.

[Moonlover]

Wasn't there a government tax incentive at one time to boost car sales? loads of folks rushed in to buy that couldn't really afford them. This was before my time here, but read about it on TVF a few years back.

[topt]

5 hours ago, Moonlover said:

Wasn't there a government tax incentive at one time to boost car sales? loads of folks rushed in to buy that couldn't really afford them. This was before my time here, but read about it on TVF a few years back.

Started end of 2011 and lasted for I think 12-18 months from memory?

You were supposed to keep for 5 years or had to pay back the incentive if you sold early - which was up to 100k. The fall out from this was noticed a few years ago now so I would suggest unlikely the reason for the OPs observation. 

[Senechal]

13 hours ago, Lacessit said:

The banks and finance companies probably own most of them.

What strikes me is all these rows of cars lined up with for sale signs, with nary a person kicking the tires.

Auto resales suffer from the same problem as condo resales. Financing is harder to come by for second hand purchases (Condo loans are typically builder-financed). As a result, the primary market always looks healthier than the secondary market.

[sirineou]

22 minutes ago, Senechal said:

Auto resales suffer from the same problem as condo resales. Financing is harder to come by for second hand purchases (Condo loans are typically builder-financed). As a result, the primary market always looks healthier than the secondary market.

IMO Used car sales  also suffer from a  high resale prices.  Personally I dont see why anyone would buy a two year old model when they can buy a new model for 200K baht more. Especially when they can finance the difference at such a low interest rate , that make the payment difference insignificant.

[steve187]

3 hours ago, Senechal said:

Auto resales suffer from the same problem as condo resales. Financing is harder to come by for second hand purchases (Condo loans are typically builder-financed). As a result, the primary market always looks healthier than the secondary market.

not sure if i agree with that, i think its easier to get a car loan, not tied to a new car purchase. 

Edited November 5, 2019 by steve187