Bank lists of Repossessed Cars - Do They Post Lists Online?

[Thomas J]

I have seen this topic discussed previously but I have never seen a definitive answer.  Do the banks in Thailand have lists of those vehicles they have repossessed and are for sale?  If so, are they online?  

Perhaps the banks don't bother with trying to sell direct but have arrangements with certain used car dealers to sell them on their behalf or they just send all of their cars to auction. 

Wondering if anyone knows.  Trying to ask bank personnel about this is like trying to push a rope up a hill. 

[sanuk711]

I think the banks give them to Auction houses---maybe wrong but do not remember seeing them sell cars---houses yes. get many Auction lists.

Edited May 30, 2021 by blackcab
Link removed

[CharlieH]

From memory of previous posts, they all go to auction, the cream, as is norm in thailand, are filtered to those with envelopes, but that of course is just speculation.

[blackcab]

A link to an auction site in Scotland and a post commenting on this have been removed.

[sanuk711]

7 minutes ago, Thomas J said:

This appears to be an auction site for Glasgow. 

????   ????

Definite  candidate for stupidest post then...........Sorry clicked on the wrong button...I wondered why Wozza was looking confused.

Yes many Auction sites on Line.... You have to deposit 10K with them if you want to bid (returnable) they go very fast so you do need a Thai person with you.

 

 

Edited May 30, 2021 by sanuk711

[ThaIrish Sean]

35 minutes ago, sanuk711 said:

????   ????

Definite  candidate for stupidest post then...........Sorry clicked on the wrong button...I wondered why Wozza was looking confused.

Yes many Auction sites on Line.... You have to deposit 10K with them if you want to bid (returnable) they go very fast so you do need a Thai person with you.

 

 

I have an account with Mannheim in the UK, does that qualify me in Thailand? ????

[digbeth]

The Bank and Finance company that deals with car loans and repossesion is separate deparment as the normal high street bank branches, asking the customer facing staff about where the cars goes wouldn't get anywhere, they'd know how to take payments and that's it. 

 

 

[Thomas J]

35 minutes ago, ThaIrish Sean said:

I have an account with Mannheim in the UK, does that qualify me in Thailand

I am not sure.  I have found three auctions sites.  With Mannheim and Apple really the only two of any size.  

While I know about the auction sites.  Are all of the bank repossessed cars automatically sent to auction.  In the USA normally the banks attempt to sell their cars directly for a period of time.  They get a better price that way and avoid the commission to the auction house.  They send to auction finally after all attempts to sell the cars directly have failed. 

I see sites for the banks for repossessed properties but not for cars. 

[Kwarium]

I have never seen a bank selling cars. I got my 2019 truck at an auction in 2020, saving about 300k.

 

https://www.appleauction.co.th/Home

 

They have an app and you can watch live and bid online.

 

https://apps.apple.com/th/app/apple-live-bid-mobile/id1166066716

[Thomas J]

1 hour ago, Kwarium said:

I have never seen a bank selling cars. I got my 2019 truck at an auction in 2020, saving about 300k.

I know one man worked for a bank and said he personally bought repo's from them and then cleaned them up and resold them.  Perhaps the banks just find it easier to auction them.  With your experience, were you able to inspect the car prior to bidding or just take the inspection the auction company provided as factual. 
 

[Kwarium]

5 hours ago, Thomas J said:

I know one man worked for a bank and said he personally bought repo's from them and then cleaned them up and resold them.  Perhaps the banks just find it easier to auction them.  With your experience, were you able to inspect the car prior to bidding or just take the inspection the auction company provided as factual. 
 

The website has a calendar showing auction dates and locations around Thailand. They are usually opened the day before for inspection. The list of vehicles is also published a few days or more before. 

 

I personally went early on auction day and checked out the vehicles on my short list. They were unlocked on the lot, but no keys... 

 

As they drive them single file up to the auction block and wait with engines running, guys will usually lift the hood and give them a quick once over. Most bidders were resellers.

 

You can attend an auction for free by making the 20k deposit, which is fully refundable on the spot if you don’t place a successful bid.

 

I scored on my second visit! Highly recommend.

[murraynz]

18 hours ago, Thomas J said:

I know one man worked for a bank and said he personally bought repo's from them and then cleaned them up and resold them.  Perhaps the banks just find it easier to auction them.  With your experience, were you able to inspect the car prior to bidding or just take the inspection the auction company provided as factual. 
 

I know a lady in Pattaya. She is an ex bank employee, gets the repos from that bank, then sells  with low profit margins. 

Not so many repos being auctioned during covid.

[Thomas J]

4 minutes ago, murraynz said:

I know a lady in Pattaya. She is an ex bank employee, gets the repos from that bank, then sells  with low profit margins. 

Not so many repos being auctioned during covid.

That would seem to indicate there are bank lists.  However you sure don't see them posted online.  You wonder how the banks expect to sell them if there is not a spot for prospective buyers to know what they have. 

[Thomas J]

12 hours ago, Kwarium said:

I scored on my second visit! Highly recommend.

Which auction did you attend?  Manheim or Apple and which location? 

[Falcon]

Interesting. Maybe a good place to look when it come to buying my son a new car.

[Kwarium]

6 hours ago, Thomas J said:

Which auction did you attend?  Manheim or Apple and which location? 

I used Apple and posted links to their website above.

 

I believe Union Auctions is the biggest and oldest (SET listed) auction house here. http://www.auct.co.th/auctionlist.php

 

If you are looking for banks selling cars, keep in mind that they have separate divisions for auto finance, like Krungsri Auto. And much of the new car buying is done through leasing companies, like Toyota Leasing.

https://www.tlt.co.th/index.php

 

Good luck! 

 

Btw- The auctions have some real junk, just like the Bangkok auto tents! An upcoming June 4th auction lists a toyata sedan with 500K km!

[Thomas J]

17 minutes ago, Kwarium said:

Btw- The auctions have some real junk, just like the Bangkok auto tents! An upcoming June 4th auction lists a toyata sedan with 500K km!

Thank You. 

[stubuzz]

On 5/31/2021 at 1:26 PM, Kwarium said:

Good luck! 

 

Btw- The auctions have some real junk, just like the Bangkok auto tents! An upcoming June 4th auction lists a toyata sedan with 500K km!

Agreed.

I have been following the stock for the past few days and 99% of the cars are junk.

[Longwood50]

On 5/30/2021 at 3:13 PM, Kwarium said:

I have never seen a bank selling cars. I got my 2019 truck at an auction in 2020, saving about 300k.

 

https://www.appleauction.co.th/Home

 

They have an app and you can watch live and bid online.

 

https://apps.apple.com/th/app/apple-live-bid-mobile/id1166066716

When you purchased via the auction were you charged for or responsible to pay VAT.  I know private sales do not have it but not sure about auctions. 

[Liverpool Lou]

On 5/31/2021 at 10:48 AM, Thomas J said:

You wonder how the banks expect to sell them if there is not a spot for prospective buyers to know what they have. 

Auctions!

[Liverpool Lou]

On 8/25/2021 at 9:17 PM, Longwood50 said:

When you purchased via the auction were you charged for or responsible to pay VAT.  I know private sales do not have it but not sure about auctions. 

VAT is chargeable.