Thais, New Trucks living beyond their means help

[recom273]

12 hours ago, djayz said:

What damage to you? You didn't take out the loan. If you're worried about her family, fxxx 'em. Let them put their hands in their pockets and stump up for him. He is, after all, their their blood relative. Not yours. 

 

50k sounds WAY too much. My BIL was 3 months behind for his truck and that only came to just under 21,000 in total. I can't help but feel that your BIL is either 1) trying to milk you or 2) up to his neck in debt and the truck isn't his only problem. 

 

 

There was a kid on the “news” last month - he had borrowed 50K or whatever from a loan shark so he could lay it down for the deposit on a finance deal for a new 1000cc bike.

 

He couldn’t pay the loanshark and the guy took the bike, never to be seen again, the loan shark denied all knowledge. It’s just amazing what makes the news in this country, some idiot standing there crying and asking the world to return his bike (that he will be paying for, the foreseeable future)

 

This is the level of stupidity and greed in this country - I would say you 2) option is probably the truth. 

[NoshowJones]

On 12/25/2019 at 5:41 AM, faraday said:

Ask to see the loan agreement. If he can't find it, then don't help him.

 

How much does he want?

I wouldn't help him even if he did have a loan agreement.

[NoshowJones]

On 12/25/2019 at 5:49 AM, Matzzon said:

One thing that you have to understand, is that this is possible because there is no thing called credit worthiness in Thailand. Here people have to make an initial payment, and after that can get a loan on the rest. I will assume that the dealership made this deal with him.

The only way you can get him out of this without financial help to pay the truck for him, is that you and your wife convince him to sell the truck and pay off the loan with the money if possible.

I can guarantee that the contract will state that he can not return the car if the dealership do not agree with that, which means he is stuck with the car and the payments.

Only one thing, you cannot get blood out of a stone, so what then?

[emptypockets]

On 12/25/2019 at 10:25 AM, thaitot said:

Robblok That is pretty much what I thought. i am going to tell my wife to ask how much is owed. And that he needs to return the truck. 

Return the truck to whom?

Thailand,and a lot of countries run the credit system differently to the USA. If I found myself struggling to pay a mortgage in Australia, the finance company would sell the house and I would be liable for the difference. No simply handing the keys over and all is done and dusted. Same with vehicles. Essentially you are borrowing money and they want the money back. Finance companies don't want vehicles or houses, they want money, which is exactly what you sign up for in the credit contract.

[Matzzon]

54 minutes ago, possum1931 said:

Only one thing, you cannot get blood out of a stone, so what then?

Living with the unpaid loan and never be able to own anything.

[emptypockets]

55 minutes ago, possum1931 said:

Only one thing, you cannot get blood out of a stone, so what then?

Blood out of a person? If a loan shark is involved.

Edited December 26, 2019 by emptypockets

[tabarin]

I would say almost everyone in a car (and many new motorbikes on minimum wagers too) in TH is living above their means, given the knowledge of the average wage and the average monthly costs.

You know many are tight as they only fill their car up with 100-200B gasoline.

Edited December 26, 2019 by tabarin

[Don Mega]

2 hours ago, mokwit said:

Did you previously hold those cards in your home country - e.g. Amex you are supposed to transfer to Amex Thai and I would guess this is straightforward whereas an actual application from a farang with no Amex in theirhome country might be less simple.

Ive got a Thai Amex and a K-bank visa card, applied for both in country and it was a straight forward process.... The rep from K-Bank actually came to my work to fill out the documents !!

 

Don't really need or use the Amex but they sent me an application so for <deleted>s and giggles I filled it out and sent it back.... card arrived 3 weeks later !!

 

[Don Mega]

7 minutes ago, tabarin said:

I would say almost everyone in a car (and many new motorbikes on minimum wagers too) in TH is living above their means, given the knowledge of the average wage and the average monthly costs.

You know many are tight as they only fill their car up with 100-200B gasoline.

Whats the average wage ?

 

I suspect many at my work are living above their means but the carpark is full of new Ranger Wildtraks and Fortuner TRD's.

 

I do know their salaries but am interested to hear what you think an average wage is.

[tabarin]

6 minutes ago, Don Mega said:

Whats the average wage ?

 

I suspect many at my work are living above their means but the carpark is full of new Ranger Wildtraks and Fortuner TRD's.

 

I do know their salaries but am interested to hear what you think an average wage is.

The real average wage is no more than 16,000 baht a month. The exceptions are small numbers, population wise. Regardless, even if earning 25,000 a month you should not be paying 7,000 on a car, which often is minimum with official dealers. It should go to a mortgage or savings.

 

A catch is that many go to tent dealers, who offer 3,500 finance deals with huge interests and endless contracts, enabling many to have those 1MB up Rangers etc.

Or they just live in a 2000 baht shoebox room with fans, eat noodles, to pay the car as a couple.
Always makes me smile to drive on a paid off motorbike tho, specially around traffic jam, as they not only waste money but also a lot of time (and nobody actually cares about them).

Edited December 26, 2019 by tabarin

[Don Mega]

2 minutes ago, tabarin said:

The real average wage is no more than 16,000 baht a month. The exceptions are small numbers, population wise. Regardless, even if earning 25,000 a month you should not be paying 7,000 on a car, which often is minimum with official dealers. It should go to a mortgage or savings.

 

A catch is that many go to tent dealers, who offer 3,500 finance deals with huge interests and endless contracts, enabling many to have those 1MB up Rangers etc.

wow only 16k... did not realise it was that low !!

[tabarin]

3 minutes ago, Don Mega said:

wow only 16k... did not realise it was that low !!

Well that is about normal after graduation, not to mention they usually need 4K a month for their education debt, 15 years long. So then the real net is even lower than that.
BKK might offer them 18-19K baht but also has higher living costs.

Those with the good paying 30K up jobs are a minority or senior level in gov jobs etc.

Edited December 26, 2019 by tabarin

[Don Mega]

1 minute ago, tabarin said:

Well that is about normal after graduation, not to mention they usually need 4K a month for their education debt, 15 years long. So then the real net is even lower than that.
BKK might offer them 18-19K baht but also has higher living costs.

Those with the good paying 30K up jobs are a minority or senior level in gov jobs etc.

Plenty of 30k jobs outside of BKK, not Gov or senior level.

[tabarin]

Just now, Don Mega said:

Plenty of 30k jobs outside of BKK, not Gov or senior level.

Plenty on the 70 million population, dreams on ???? It is a small bubble of people, similar to central BKK, 10K people you always see in all the restaurants, bars and clubs. Meanwhile most eat noodles off their 9-12K salaries.

[Don Mega]

4 minutes ago, tabarin said:

Plenty on the 70 million population, dreams on ???? It is a small bubble of people, similar to central BKK, 10K people you always see in all the restaurants, bars and clubs. Meanwhile most eat noodles off their 9-12K salaries.

pay peanuts get monkeys.

[tabarin]

4 minutes ago, Don Mega said:

pay peanuts get monkeys.

Agree but at the same time, even when offering 3x peanuts you often still get monkeys. Or they simply consider that as additional profit and take off for a 2 month holiday after 4 months working. Lol.

[Don Mega]

3 minutes ago, tabarin said:

Agree but at the same time, even when offering 3x peanuts you often still get monkeys. Or they simply consider that as additional profit and take off for a 2 month holiday after 4 months working. Lol.

No such thing as a 2 month holiday so that would be job abandonment (after the 3rd day no show) which is great as it weeds out the good from bad which means no severance pay when you  lay them off.

[tabarin]

7 minutes ago, Don Mega said:

No such thing as a 2 month holiday so that would be job abandonment (after the 3rd day no show) which is great as it weeds out the good from bad which means no severance pay when you  lay them off.

In many sectors they do not seem to care much about that, they are job hopping all the time. Specially in hospitality and tourism where they can earn 15K a month without having a degree on as little as 7 hour days. 

Many jobs they do not even get official contracts let alone severance pay so they lose little with that, most cases one leaves the day after salary payout. Business ownership also changes with a high rate so they can often even get back to the same place after 2 years.

Edited December 26, 2019 by tabarin

[Khon Kaen Jeff]

8 pages worth just about a truck? Jesus wept.

 

Anyhow, can relate to this, just found out my missus didn't pay the monthly payment for 4 months on her/our car despite having it, well, in theory anyway. No guesses who had to stump up. It's pathetic, but bed well and truly laid, so I'm fuc*ed for a good while yet.

[Vacuum]

On 12/25/2019 at 3:30 AM, CharlieH said:

My advice, don't get involved.

Good advice 

[Don Mega]

14 minutes ago, tabarin said:

In many sectors they do not seem to care much about that, they are job hopping all the time. Specially in hospitality and tourism where they can earn 15K a month without having a degree on as little as 7 hour days. 

Many jobs they do not even get official contracts let alone severance pay so they lose little with that, most cases one leaves the day after salary payout. Business ownership also changes with a high rate so they can often even get back to the same place after 2 years.

Ohhh you are talking about those not legally employed under the thai labour laws or work for a company where the unions have a foot hold...

 

Sucks to be them.

[fruitman]

1 hour ago, tabarin said:

I would say almost everyone in a car (and many new motorbikes on minimum wagers too) in TH is living above their means, given the knowledge of the average wage and the average monthly costs.

You know many are tight as they only fill their car up with 100-200B gasoline.

How is it possible that loads of thai are in Japan or Europe now for a christmas holiday? Of course they can afford that.

[Vacuum]

5 minutes ago, fruitman said:

How is it possible that loads of thai are in Japan or Europe now for a christmas holiday?

Don't know but I'm intrigued to know why they do it. It's certainly not for "a christmas holiday" as they don't celebrate it.

[fruitman]

1 minute ago, Vacuum said:

10 minutes ago, fruitman said:

How is it possible that loads of thai are in Japan or Europe now for a christmas holiday?

Don't know but I'm intrigued to know why they do it. It's certainly not for "a christmas holiday" as they don't celebrate it.

Well i know 2 of them well and they love to see christmas in europe right now. Have you been in the BKK malls? More christmas there than in European malls.

[Pravda]

On 12/25/2019 at 6:00 AM, thaitot said:

Ezzra I completely understand the Thai way, again I did not just Mary a bar girl yesterday and am just now being told I will be building a new house in Issan. 

 

But you did. Because you are being asked for 50k baht. From the brother nevertheless. 

[Pedrogaz]

Don't help....it is throwing good money after bad. It's called 'enabling' when you pay. You might find however that your wife has signed as guarantor and they come after her assets. Perhaps more likely the family have acted as guarantor and will be on the hook for the money. This is equally stupid, as they know the man-child can't afford the truck and just wants to look flash. Either way, keep well away from this loser.

[donmuang37]

If he defaults sufficiently, the bank or loan company will probably repo the truck, sell it to a friend at a low ball price and come after him for any loan balance due. If he doesn't pay, they will sell the loan balance to a loan collector (aka loan shark) and then it will get ugly.

 

Best bet is to get everybody, especially your wife, to agree in advance that this is a one time gift and he can't come back for more. Only then send him the money.

 

That way you are a "good guy" and when he loses the truck they csn't be upset with you.  Good luck!

 

[djayz]

6 hours ago, mokwit said:

It's that easy? I assume you are speaking from personal experience.

Yes, I am speaking from experience. If that isn't acceptable, then I just walk away. It really is that easy. Been with the same woman 12 years and none of this help brother, help mae, help po, help uncle, etc. Over the course of 12 years, she has asked me maximum 5 times for help, usually 6k to pay her monthly installment on the car. 

It can be done. You just need to decide what you're going and going to accept in your relationship. 

[ubonr1971]

On 12/25/2019 at 5:50 AM, thaitot said:

He wants 50k To answer your question. I know the Thai way and how this all works with the family wanting money as i have lived in thailand  and have been married for 11 years. But what I am trying to dig into is if he does not pay for this truck and they come get it or he surrenders the truck what can they do. Stong arm him into paying take all his possessions his life. If need be I will request a copy of the loan agreement but for some reason I am thinking this may be a very common situation in Thailand  

Your wife will likely help him behind your back if you dont. keep this in mind....

[DJ54]

Recent experience for motorcycle. 6 months ago father in-law

came home with new Honda click. He bought with % down 

and payments. My question was how is he going to pay for it?

he doesn’t work....

 

A month ago the New moto dealer came and got it. Two weeks

later a payment demand from attorney. It basically said balance 

due needs to paid by certain date. If not paid will be sold at auction and he would be on the hook for difference. I assume

the truck dealer would be the same. 

 

The loan Ian is probably by other than the dealer... legal loan 

company...