Buying and selling cars as business

[Kendo11]

Hi there, Due to corona I lost my job and relocated to Thailand with my Thai wife. I am unemployable here in the food manufacturing industry where I have previously held senior positions. I need to earn money and was considering buying and selling cars from my house. Do I need to form a company and register as a dealer before I can do this? Is this a crazy idea? Comments and advice would be greatful received. 

[tonray]

8 minutes ago, Kendo11 said:

Is this a crazy idea?

yes

[2 is 1]

Many second hand car dealer have make suicide coz they business is dead! They was rich before now they business is no good! You can get so low price new car out from shop that most people buy new car if they have any money!

[FritsSikkink]

You need a company and a work permit.

[johng]

20 minutes ago, Kendo11 said:

Is this a crazy idea?

Yes crazy idea especially in these covidiocy times..better setup a somtam gai yarng stall..even better a mobile Somtam gai yarng stall so you can go locally to where the customers are..beware you can not work on the gai yarng stall only a Thai person can.

[scammed]

a friend did that for a while, using his gf name on the cars,

then one day when he had made a couple of good deals

and had 200.000 with his gf, she figured now was as good time as any to cash it

[tonray]

Used cars are inherently dangerous items. As a foreigner, the minute someone buys a car from you and a week later it breaks down..you're gonna have a problem. 

 

 

[CGW]

36 minutes ago, scammed said:

a friend did that for a while, using his gf name on the cars,

then one day when he had made a couple of good deals

and had 200.000 with his gf, she figured now was as good time as any to cash it

Really? with a board name like "scammed" one could suspect you have an "agenda" ???? 

[ChipButty]

Be careful of the local mafia you just might be stepping on their toes, all second hand car dealers are gangsters 

[Kwasaki]

3 hours ago, FritsSikkink said:

You need a company and a work permit.

And I think like 12,000,000 baht in the bank as a foreigner. 

That's just for starters. 

[TheFishman1]

Crazy idea

[Krabi King]

2 hours ago, Kwasaki said:

And I think like 12,000,000 baht in the bank as a foreigner. 

That's just for starters.

Refrain from giving advise to people when you dont know what you're talking about. You just add to the confusion some people go through trying to get something started here. A couple can start a partnership with only 2 million in capital. 

 

And to answer the OP's question: 

You could own a business like this, but you'd probably be very limited at actively running it and selling your cars. Cash handling and language would be major issues, just to name a few. If you insist, buy 1 car and try selling it. If you succeed, buy another. I wouldn't advise running a serious 2nd hand car business as a foreigner.

 

[natway09]

I thought a used car saleman was a protected species anywhere in the world   555

[BritManToo]

4 hours ago, scammed said:

a friend did that for a while, using his gf name on the cars,

then one day when he had made a couple of good deals

and had 200.000 with his gf, she figured now was as good time as any to cash it

Sounds unlikely!

Dealers don't transfer ownership.

They keep the signed transfer papers from the seller, and give them to the buyer.

[Lacessit]

Depends on whether the OP is at the coalface of food manufacturing, or a manager. There are farangs here who do quite well selling packaged Western food as a cottage industry, such as pies, pizzas, cakes and sausages.

IMO selling cars from home would be akin to operating a storage facility for nitroglycerine.

[LennyW]

Not a good idea for a foreigner.

[fangless]

37 minutes ago, BritManToo said:

They keep the signed transfer papers from the seller, and give them to the buyer.

Ugh!

The car dealer is a buyer and then a seller!

That is how it works if he is "legit"!

 

 

Edited September 16, 2020 by fangless

[Ireland32]

7 hours ago, 2 is 1 said:

Many second hand car dealer have make suicide coz they business is dead! They was rich before now they business is no good! You can get so low price new car out from shop that most people buy new car if they have any money!

Thai people hate used 

[Kendo11]

Unfortunately I was manager of Food Factory so no use doing the actual making! Any suggestions of a good business to open? Doesn't seem like anything doing well!

[johng]

The price of second hand cars in Thailand is still very high (compared to UK,Europe,US)

however the ongoing running costs are much lower...much less regulation/enforcement of roadworthiness

emissions etc and  the cost of a "mechanic" to repair something is much cheaper.

 

17 minutes ago, fangless said:

Ugh!

The car dealer is a buyer and then a seller!

yes but the dealer does not actually ( normally)  transfer the vehicle into their own name

( waste of time and money) they just hand over the transfer papers to the new buyer as @BritManToo said.

[Justgrazing]

Don't forget nice coat , hat and cigar if you are gonna have a go .. and changing your name to Arfur might help as well .. 

 

[fangless]

5 minutes ago, johng said:

yes but the dealer does not actually ( normally)  transfer the vehicle into their own name

( waste of time and money) they just hand over the transfer papers to the new buyer

That will be the case for Thai to Thai transactions.  The minute a Farang enters the equation all the "hurdles" of ownership are introduced and the price goes northbound, especially if the dealer seeing the Farang interest gets the paperwork done.

[Lewis711]

If u have good car mechanical knowledge, it is possible to try, but always starts small. Many 2nd car dealers are unreliable, so there is a niche market there I think. I stayed in a rural village, 2 yrs ago neighbor starts selling car and everyone was thinking this is crazy, but the business is a roaring success until today, which I still failed to understand why.  Never try never know, good luck to you!

[Bigz]

31 minutes ago, Ireland32 said:

Thai people hate used 

Unless they haven't got money to buy new..

[Don Mega]

24 minutes ago, fangless said:

That will be the case for Thai to Thai transactions.  The minute a Farang enters the equation all the "hurdles" of ownership are introduced and the price goes northbound, especially if the dealer seeing the Farang interest gets the paperwork done.

Have bought and sold a few cars over the years, never been an issue with paperwork if all in order.

 

Additional paperwork  for Foreigner is copy of passport (Thai uses ID card), copy of work permit or residency certificate and copy of valid visa fill out the same power of attorney and vehicle transfer that a Thai would.

 

where it becomes a hassle if a foreigner is involved is with the copy of visa.

Edited September 16, 2020 by Don Mega

[Don Mega]

9 minutes ago, Bigz said:

Unless they haven't got money to buy new..

and typically the deposit for a new car is less than the price of a secondhand one... assuming they qualify for credit and are capable of servicing the loan they will buy new.

[bluesofa]

30 minutes ago, Justgrazing said:

Don't forget nice coat , hat and cigar if you are gonna have a go .. and changing your name to Arfur might help as well .. 

 

The world's your lobster.

[Kwasaki]

1 hour ago, Krabi King said:

Refrain from giving advise to people when you dont know what you're talking about. You just add to the confusion some people go through trying to get something started here. A couple can start a partnership with only 2 million in capital. 

 

And to answer the OP's question: 

You could own a business like this, but you'd probably be very limited at actively running it and selling your cars. Cash handling and language would be major issues, just to name a few. If you insist, buy 1 car and try selling it. If you succeed, buy another. I wouldn't advise running a serious 2nd hand car business as a foreigner.

 

I remember something about reading 12,000,000 baht is needed to open a business in Thailand, whatever knowledge you have about doing so my advice would be the same as in mentioning to OP what capitol needed "forget it".

[bluesofa]

15 minutes ago, bluesofa said:

The world's your lobster.

The real origin of the phrase was George Cole's son telling his father he heard someone in a pub say it. George Cole paid his son £25 and bought the line off him.

Then a couple of year's later, "Arthur" threw it in as an ad-lib during filming.

 

 

[fangless]

37 minutes ago, Don Mega said:

Have bought and sold a few cars over the years, never been an issue with paperwork if all in order.

 

Additional paperwork  for Foreigner is copy of passport (Thai uses ID card), copy of work permit or residency certificate and copy of valid visa fill out the same power of attorney and vehicle transfer that a Thai would.

 

where it becomes a hassle if a foreigner is involved is with the copy of visa.

You are talking as an individual buying and selling his pride and joy.  The op is asking about dealing, which is totally different.