I keep seeing cars and trucks advertised on FB market but am not clear what the deal is. They are advertised as pawned (google translate) or from repossession(I think) with very cheap prices and no green book.

Why I am interested is that my father-in-law is a paraplegic he has been driving the same truck for 15 years. We are looking to get him something newer as in a 4 door (he can't sit upright so lays down on a special made bench with hand control). The difficulty is finding a old automatic pickup to convert. He just drives around the village and farm, never pays tax nor insurance (I know I know). So he doesn't need a green book.   

 

Has anyone looked into these pawned/Repo cars? What is the deal buying one? Prices look too good to be true even without green book, caveat emptor? 

If the vehicle does not have a ‘BLUE book’ (green is for motorcycles), then it may as well be stollen...  there is no proof of ownership and another owner could always claim it.

 

Too good to be true = too good to be true - Definitely buyer beware. 

Besides your dad is a danger in the road. 

 

Without insurance the simplest of accidents can be a disaster for your dad and your family... 

1 minute ago, expatjustice said:

Besides your dad is a danger in the road. 

 

Without insurance the simplest of accidents can be a disaster for your dad and your family... 

(I know I know) we live in the other side of Thailand, I know its wrong but he will not stop driving. Better he drive a vehicle with brakes that work. 

6 minutes ago, richard_smith237 said:

If the vehicle does not have a ‘BLUE book’ (green is for motorcycles), then it may as well be stollen...  there is no proof of ownership and another owner could always claim it.

 

Too good to be true = too good to be true - Definitely buyer beware. 

The adverts on FB say they have ownership documentation just not blue/green books. 

 

Its illegal to buy a pawn car, and might affect any future visa extensions if youe get caught

There a reason why its so cheap it doesn't belong to the seller

https://www.moneybuffalo.in.th/debt/รถหลุดจำนำ-คืออะไร

9 minutes ago, Sakeopete said:

The adverts on FB say they have ownership documentation just not blue/green books. 

 

they will say anything on FB, normally as a rule the number plates are always blank out, they will show you a copy of 1 page of the blue/green book and that page wouldn't show who the owner is

6 minutes ago, vinny41 said:

Its illegal to buy a pawn car, and might affect any future visa extensions if youe get caught

There a reason why its so cheap it doesn't belong to the seller

https://www.moneybuffalo.in.th/debt/รถหลุดจำนำ-คืออะไร

I would never buy one myself nor be involved in it. My in-laws are selling land and looking to buy a truck for him.

 

stay far away from a vehicle with shady book.

i bought one and the hustler

assured it was legal book,

turns out it wasnt so i couldnt sell it, and when i wanted refund i got 1/3 back

If a newer model the reason it does not have a book may be that the finance company or bank is in possession of the book due to a loan outstanding.

Find out who holds the paper, go and find out the amount, and negotiate with the seller and the bank.

Then all above board

Just don't do it.  end of

If no book then it's stolen, even if it's repossessed or pawned has to have some kind of paperwork.

You might get into trouble for buying stolen vehicle.

If it is too good to be true then it is

They are most likely under finance. Many sellers advertise newish cars dirt cheap. Once you have a chat with them it usually turns out that you have to take on the outstanding finance on top of the sale price. It also explains the lack of book

17 hours ago, richard_smith237 said:

then it may as well be stollen

 Thanks Richard and yes, if no blue book is available, then it can be regarded as stolen or, as I found out when working with the Tourist Police, being sold suspiciously by illegal money lenders to re-coup gambling debts when the vehicle was submitted by a punter as collateral for money borrowed and could not repay.  The blue book, and appropriate vehicle insurance, is essential for road tax/road fund license, but as we all know many just do not bother. 

19 hours ago, Sakeopete said:

The adverts on FB say they have ownership documentation just not blue/green books. 

 

Right

Bank/finance holding the book. Perhaps the owner has not made any payment for long time. Then time to make extra cash out. 
counts as an stolen car. 

19 hours ago, Sakeopete said:

The adverts on FB say they have ownership documentation just not blue/green books. 

 

IF the owners are clear that the price is to take over the ‘finance’ then thats ok. 

 

In such a case usually an advertisement would be quite clear about that: i.e. Pay 150,000 baht to the owner, with 33x months of 12,375 baht to the finance (which is dependant on the finance agreeing to take you on). 

 

23 hours ago, vinny41 said:

Its illegal to buy a pawn car, and might affect any future visa extensions if youe get caught

There a reason why its so cheap it doesn't belong to the seller

https://www.moneybuffalo.in.th/debt/รถหลุดจำนำ-คืออะไร

 

Post of the day there . Well done.

 

Pawn cars are a way for people who can no longer afford to pay the finance company to avoid vehicle repossession.

23 hours ago, richard_smith237 said:

If the vehicle does not have a ‘BLUE book’ (green is for motorcycles), then it may as well be stollen...

"...it may as well be stollen..."

Delicious, even more so when it's stolen.

7 hours ago, sencelebi said:

If no book then it's stolen,

Even if the book has just been lost?   Don't think so.

23 hours ago, vinny41 said:

Its illegal to buy a pawn car

Really?  So why would any pawn shop ever accept a vehicle for pawn if it can never be sold?   

 

Have you any idea how pawn shops operate and how the shop protects its loans by the risk of forfeiture for non-repayment?

Gotta laugh at some of the posts here.

Especially the reasons for the car owner not having a book.

They have never been outside of their comfort zone - which entails going to a dealer, being sweet talked into buying a brand new whatever.

No clue how the auto trading world works.

Been posted by myself and others - book being held by finance company somewhere.

Deal with the seller, deal with the finance, buy it if you want it.

Who 'pawns' cars - nobody !

Can't read the papers - bring someone who can.

It's that simple.

7 hours ago, Liverpool Lou said:

Really?  So why would any pawn shop ever accept a vehicle for pawn if it can never be sold?   

 

Have you any idea how pawn shops operate and how the shop protects its loans by the risk of forfeiture for non-repayment?

Do you know of any pawn shops that sell their cars with full legal ownership papers  at a fraction of their market value i.e selling their cars at the same price of those cars that have no owenship papers

41 minutes ago, canthai55 said:

Gotta laugh at some of the posts here.

Especially the reasons for the car owner not having a book.

They have never been outside of their comfort zone - which entails going to a dealer, being sweet talked into buying a brand new whatever.

No clue how the auto trading world works.

Been posted by myself and others - book being held by finance company somewhere.

Deal with the seller, deal with the finance, buy it if you want it.

Who 'pawns' cars - nobody !

Can't read the papers - bring someone who can.

It's that simple.

Its not always that simple deal with the bank or finance as sometimes the bank or finance has been told that the car has been stolen 

and if you go to FB marketplace you will see many cars being sold without paperwork

Most cars do not increase in value each year and if you have bought a car with a deposit of 5% or with 84 months repayments then that car is always going to be diffcult to sell as it will carry a baggage of 300,000 to 400,000 in finance interest  that has to be repaid

For the majority of cars in Thailand the issue of selling is simply negative equity, car dealers encourage customers to put down as a deposit as little as possible and in some cases will offer 100-150,000 discount off the car as an incentive to buy, 

discount is always applied towards the down payment as discounting on the loan amount would reduce the balance and therefore would reduce the amount of comission. you can buy cars with a down payment as little as 5% and customers are  encourage to pay back loan amount over 7 years. Most banks and finance companies don't offer early payment discount so the balance is the same even if you pay the loan early

you can see cars for sale where the seller is looking for someone to take over the loan agreement the problem is if they are stuck with a high interest rate the amount they want plus the balance left on the finance quite often exceed the price of a brand new car.

I don't know of anyone that would pay more for a 2nd car car if they could get a brand new car cheaper

 

On 5/5/2021 at 11:20 PM, Sakeopete said:

(I know I know) we live in the other side of Thailand, I know its wrong but he will not stop driving. Better he drive a vehicle with brakes that work. 

Or better you don't buy him another one so he can't continue.

1 hour ago, vinny41 said:

Its not always that simple deal with the bank or finance as sometimes the bank or finance has been told that the car has been stolen 

and if you go to FB marketplace you will see many cars being sold without paperwork

Read my post -

Deal with the seller, deal with the finance

If the finance says it is stolen - Gee, what to do ?

555

How hard can it be ? No book - no sale - simple

13 minutes ago, canthai55 said:

Read my post -

Deal with the seller, deal with the finance

If the finance says it is stolen - Gee, what to do ?

555

How hard can it be ? No book - no sale - simple

Suggest you read my post again as clearly you don't  understand

12 hours ago, Liverpool Lou said:

Really?  So why would any pawn shop ever accept a vehicle for pawn if it can never be sold?   

 

Have you any idea how pawn shops operate and how the shop protects its loans by the risk of forfeiture for non-repayment?

 

You do realize that there are no pawn shops involved in this trade. It's a pawn car,  not a car bought from a pawnbroker. The pawnbroker in the pawn car game is the mug buying a vehicle without any legally acceptable proof of ownership.

3 hours ago, NanLaew said:

15 hours ago, Liverpool Lou said:

Really?  So why would any pawn shop ever accept a vehicle for pawn if it can never be sold?   

 

Have you any idea how pawn shops operate and how the shop protects its loans by the risk of forfeiture for non-repayment?

 

You do realize that there are no pawn shops involved in this trade.

You think?   Really?  

7 hours ago, vinny41 said:

15 hours ago, Liverpool Lou said:

Really?  So why would any pawn shop ever accept a vehicle for pawn if it can never be sold?   

 

Have you any idea how pawn shops operate and how the shop protects its loans by the risk of forfeiture for non-repayment?

Do you know of any pawn shops that sell their cars with full legal ownership papers  at a fraction of their market value i.e selling their cars at the same price of those cars that have no owenship papers

What?  What's that got to do with my response to your claim that selling pawned cars is illegal?

2 hours ago, Liverpool Lou said:

What?  What's that got to do with my response to your claim that selling pawned cars is illegal?

Here are some links that indicated that you are posting rubbish

https://www.moneybuffalo.in.th/debt/รถหลุดจำนำ-คืออะไร

https://www.ngerntidlor.com/th/article/financial/debt-management/cheap-car-with-dangerous.html

 

Now if you can find a link that support your posts let see them