Buying a new car

problemfarang · July 13, 2021

Hi guys,

So this is what happened and my question will follow;

So i have thai driving license and have my work address on it. One of my friends bought a car (2nd hand) and took the car on his name. So the car book is on his name. He has same driving license and work address on it. We work at the same place. So it is possible to own a car.

well, trusting this i decided to buy a car. Went to mazda with my thai friend. Plan is she will apply to buy the car via bank loan. You all know how it works. Mazda booked a day with the person from the bank and we filled some papers and answered some questions. At the end of calculations it turned out that my frie d has lot of payment (though her salary is enough) the person from the bank said it might create some problems. Then she asked me if i have a work permit.. i said yes then she said why dont you buy it in your name.. well that sound like wow to me.. all she needs are my work permi, passport, letter mentioning my salary and working at my work place and 6 month bank statement. Thats all.. but my 4 5 years ago experience at ford reminded me that ford asked me to pay 50% of the car in cash then i could buy it. Now mazda has promotion and you dont need to pay any deposit or else. Just go and buy.

So i told her i think farang cannot buy car that easily, she said things are changed now and i can buy. At that time i dont know why i just couldnt think of asking her about pay cash or not. So i told her lets first try my friend name and if cannot then my name. She said ok sure.

Now my questions;

1) lets say bank said ok to my friend. It will be 7 years payment. Can i still take the car on my name right after buying the car? Lets say we get the car from mazda and after the number plate comes can i go to transportation department and take it on my name? Number plate will come probably in 2 months maybe less.

2) lets say bank said no to my friend.. can i take it on my name without paying any deposit or cash money to bank? Mazda's promotion is no cash, just go and buy.

Thanks for the suggestions and answers.

canthai55 · July 13, 2021

If you take out a loan to buy, the bank will have the book until you pay off the loan.

You can not transfer the car to or from anybody without the book, and you will not get the book until you pay off the loan.

The book will be in the name of the bank, and after you pay it off the book will be transferred into your name, which will appear in the book as the second owner.

Edited July 13, 2021 by canthai55

problemfarang · July 13, 2021

12 minutes ago, canthai55 said:

If you take out a loan to buy, the bank will have the book until you pay off the loan.

You can not transfer the car to or from anybody without the book, and you will not get the book until you pay off the loan.

The book will be in the name of the bank, and after you pay it off the book will be transferred into your name, which will appear in the book as the second owner.

Thanks for the answer.

I just talked with the bank. She told me that i can use the bank same as thai person because i have work permit and she told me no need to pay deposit or anything else extra just because im farang.. she said she will check and let me know again in 2 days.

I think thats good news

vinny41 · July 13, 2021

54 minutes ago, problemfarang said:

Thanks for the answer.

I just talked with the bank. She told me that i can use the bank same as thai person because i have work permit and she told me no need to pay deposit or anything else extra just because im farang.. she said she will check and let me know again in 2 days.

I think thats good news

Good news for Mazda and the bank, Have you checked how much interest is being charged over 7 years with no deposit.

Normally its like paying for one full car and 50% of a 2nd car

problemfarang · July 14, 2021

14 hours ago, vinny41 said:

Good news for Mazda and the bank, Have you checked how much interest is being charged over 7 years with no deposit.

Normally its like paying for one full car and 50% of a 2nd car

hi,

i know what you mean... but at the moment i dont have enough money to pay any deposit but only my old car. And paying monthly for 7 years will not do any harm to my life harmony. Also i dont think i will buy another car for a very very long time or maybe never. im buying mazda cx-30SP you can check here.. no interest at all. https://www.mazda.co.th/offers/latest-offers/

its a limited promotion from mazda.

Now waiting for the bank to reply my application. She said no problem but.. we all know nothings sure till you sign it in thailand..

Edited July 14, 2021 by problemfarang

vinny41 · July 14, 2021

4 minutes ago, problemfarang said:

hi,

i know what you mean... but at the moment i dont have enough money to pay any deposit but only my old car. And paying monthly for 7 years will not do any harm to my life harmony. Also i dont think i will buy another car for a very very long time or maybe never. So its best to buy top. Interest is %2. like i said its a promotion from mazda.

I would check and make sure that the loan agreement has an early payment discount option so if something unexpected happens in the future you can pay off the loan early with a substantial discount as the majority of lenders give no or very small discount if you pay off early.

Basically your buying a car that has negative equity, you will never be able to sell the car and 100% cover the outstanding amount to the bank using the car alone

n8sail · July 14, 2021

I bought a 2016 Ford Ranger new on a 0% interest 48 month loan. They required 25% downpayment because I'm a foreigner. You MUST have a Thai co-sign, my girlfriend co-signed. Co-signer must have enough credit and salary to cover the loan, as must you. After the 48 months, and some 'fees' (I think was about 3000 baht), I got the car book, in my name only. I have a 53,000 baht salary in Thailand... and also MUCH more in the USA. They don't care about foreign paid income or bank balances. I imagine if my salary was less in Thailand, they'd require more downpayment as was likely your issue with the 50% request before.

I just bought another new car 6 weeks ago, an MG EP. Same deal, 25% downpayment, girlfriend had to co-sign. This loan is 1.87%.

Note that loan percentages are quoted APR, not full-rate like they are at least where I come from. In USA calculation of simple automotive loans are simple... 1.87% of the loaned value. Here... you pay 1.87% of loan value EVERY YEAR. So if it's a 4 year loan, you're actually paying 7.48%... a substantial amount.

A 7 year loan is stupidity unless it's less than 1%, or 0%. You will NEVER find this here though. In my opinion, if you can't afford the payment on a 4 year or less loan, buy a cheaper car, or take the plunge and go 2nd hand and pay cash.

I could have paid cash for these cars, but as life here is very uncertain, I would find it much easier to walk away from a partially paid car than one I fully paid for. Of course easier to sell if you have the car book, but if you need to leave in a hurry, you're still gonna lose a lot of money selling quickly to a tent dealer, etc.

Cars are crazy expensive here, loans are expensive. I only do it because my work gives me an allowance for it. I would probably not use my own money to buy a car in Thailand unless I was bleeding money.

One tip if you don't keep much baht in Thailand same as me, is they allowed me to put the downpayment on my USA credit card. I just called my bank to okay the several thousand dollar transaction. Worked both times. This way if things go awry right away, you can at least contest the transaction with your bank and not lose all your money.

problemfarang · July 14, 2021

4 hours ago, n8sail said:

I bought a 2016 Ford Ranger new on a 0% interest 48 month loan. They required 25% downpayment because I'm a foreigner. You MUST have a Thai co-sign, my girlfriend co-signed. Co-signer must have enough credit and salary to cover the loan, as must you. After the 48 months, and some 'fees' (I think was about 3000 baht), I got the car book, in my name only. I have a 53,000 baht salary in Thailand... and also MUCH more in the USA. They don't care about foreign paid income or bank balances. I imagine if my salary was less in Thailand, they'd require more downpayment as was likely your issue with the 50% request before.

I just bought another new car 6 weeks ago, an MG EP. Same deal, 25% downpayment, girlfriend had to co-sign. This loan is 1.87%.

Note that loan percentages are quoted APR, not full-rate like they are at least where I come from. In USA calculation of simple automotive loans are simple... 1.87% of the loaned value. Here... you pay 1.87% of loan value EVERY YEAR. So if it's a 4 year loan, you're actually paying 7.48%... a substantial amount.

A 7 year loan is stupidity unless it's less than 1%, or 0%. You will NEVER find this here though. In my opinion, if you can't afford the payment on a 4 year or less loan, buy a cheaper car, or take the plunge and go 2nd hand and pay cash.

I could have paid cash for these cars, but as life here is very uncertain, I would find it much easier to walk away from a partially paid car than one I fully paid for. Of course easier to sell if you have the car book, but if you need to leave in a hurry, you're still gonna lose a lot of money selling quickly to a tent dealer, etc.

Cars are crazy expensive here, loans are expensive. I only do it because my work gives me an allowance for it. I would probably not use my own money to buy a car in Thailand unless I was bleeding money.

One tip if you don't keep much baht in Thailand same as me, is they allowed me to put the downpayment on my USA credit card. I just called my bank to okay the several thousand dollar transaction. Worked both times. This way if things go awry right away, you can at least contest the transaction with your bank and not lose all your money.

Hi,

i agree and disagree with some of your comments.

First of all i dont know about %25 because im farang, but this was something i was expecting. Because when i was buying my ford focus they told me i must pay half of it if i want it on my name. this was about... 4-5 years ago. Although if you read my posts here, you would see that the lady at the bank who came to mazda shop and do paper work told me (she was very sure) that i can apply to buy it on my name as same as thai person. I told her farang cannot buy without paying cash or else but she again very surely told me as long as i have work i can buy and lot of things changed in 3-4 years so now no need to pay anything or else. Even though she told me that i still agree with you and im pretty sure the bank HQ will tell her and me to pay some deposit or down payment. Funny thing is we just talked with her again 5 min ago and she told us let me give her my documents and she will send them to bank HQ and wait for the result which im going to do so. Nothing to lose.

About the bank interest as i mentioned before its 0% you can check the mazda website i posted here. you will clearly see its a promotion and no or 0 down payment and 0% bank interest. So its a great deal if you dont have ready money in your hand to buy a car. Yes its here.. i already signed the papers and also clearly can see the numbers. Also this kind of promotion is quite common so i dont know what you mean by its not here.. i saw many times this kind of promotion. Only changing thing is the bank interest rate. For this one its 0. But they asked me a government worker must guarantee to me which is not a problem because of my work, i work for thai army.

About paying 7 years... well it looks like a long time but still a good deal if you think there is no bank interest. Also they give you the option of payment from 4 to 7 years.

you also mentioned about car prices in thailand is high. I dont agree, i think car prices are really ok and easy to buy. Thats why even the poorest has a pick-up or honda. About payment.. well thats up to the person who buys. You bought MG with 1.87 interest because there was no promotion and its standard bank interest or maybe the promotion was 1.87

I also dont agree not to buy a car. If you are working in thailand and planning a life here, if you can, i think its really stupid not to buy a car. Not saying the best one but at least something will take you anywhere safely.

PS: I also found out that 25% is only for 48 month payments. that number changes up to promotions or other things. in my case because of the promotion its 0% and the bank interest is also 0.99%. im going with 7 years because i dont want to disturb my living harmony too much. Although my salary is enough to buy it with even 2 years but why stress myself. 7 years i wont even feel it.

thanks for your comments though.

Edited July 14, 2021 by problemfarang

problemfarang · July 14, 2021

5 hours ago, vinny41 said:

I would check and make sure that the loan agreement has an early payment discount option so if something unexpected happens in the future you can pay off the loan early with a substantial discount as the majority of lenders give no or very small discount if you pay off early.

Basically your buying a car that has negative equity, you will never be able to sell the car and 100% cover the outstanding amount to the bank using the car alone

good advice. I will... thanks

Although i already signed the documents and waiting news from the bank. It will be 14 days time. Because of my passport. They want to see the real one and my real one is with my embassy because of some paper work and i can get it back in 14 days from today. So they hold the paper work at the moment and waiting to see (yes only see for 1 min) my real passport. But can check again with the bank about your suggestion. Its the Thai Army Bank im using (TTB) its easier for me to use this bank, im working for thai army.

Im not planning to sell this car.. probably will stay with me till i die. thats why i want to buy something will be with me without too much headache.

Edited July 14, 2021 by problemfarang

n8sail · July 14, 2021

5 minutes ago, problemfarang said:

Hi,

i agree and disagree with some of your comments.

First of all i dont know about %25 because im farang, but this was something i was expecting. Because when i was buying my ford focus they told me i must pay half of it if i want it on my name. this was about... 4-5 years ago. Although if you read my posts here, you would see that the lady at the bank who came to mazda shop and do paper work told me (she was very sure) that i can apply to buy it on my name as same as thai person. I told her farang cannot buy without paying cash or else but she again very surely told me as long as i have work i can buy and lot of things changed in 3-4 years so now no need to pay anything or else. Even though she told me that i still agree with you and im pretty sure the bank HQ will tell her and me to pay some deposit or down payment. Funny thing is we just talked with her again 5 min ago and she told us let me give her my documents and she will send them to bank HQ and wait for the result which im going to do so. Nothing to lose.

About the bank interest as i mentioned before its 0% you can check the mazda website i posted here. you will clearly see its a promotion and no or 0 down payment and 0% bank interest. So its a great deal if you dont have ready money in your hand to buy a car. Yes its here.. i already signed the papers and also clearly can see the numbers. Also this kind of promotion is quite common so i dont know what you mean by its not here.. i saw many times this kind of promotion. Only changing thing is the bank interest rate. For this one its 0. But they asked me a government worker must guarantee to me which is not a problem because of my work, i work for thai army.

About paying 7 years... well it looks like a long time but still a good deal if you think there is no bank interest. Also they give you the option of payment from 4 to 7 years.

you also mentioned about car prices in thailand is high. I dont agree, i think car prices are really ok and easy to buy. Thats why even the poorest has a pick-up or honda. About payment.. well thats up to the person who buys. You bought MG with 1.87 interest because there was no promotion and its standard bank interest or maybe the promotion was 1.87

I also dont agree not to buy a car. If you are working in thailand and planning a life here, if you can, i think its really stupid not to buy a car. Not saying the best one but at least something will take you anywhere safely.

thanks for your comments though.

Apologies! I somehow missed that your loan was 0% for 7 years. That is amazing... but does seem too good to be true.

I'm pretty sure the bank HQ will come back with deposit requirement, I was told that farangs must pay 25% minimum, and Thai co-signer. Hopefully I'm wrong!

Pickup trucks are pretty good pricing here as they are taxed differently and made here in Thailand. Passenger cars have insane taxes, though. MG was not too bad as it is made in China and there is a very favorable tax agreement between Thailand and China. A base-model Honda Accord for 1.4 million baht is absolutely INSANE. That is almost $43,000 NOW and exchange rates were much worse last year. A base model accord in USA is less than $24,000. So.... cars are definitely stupidly expensive here. Main reason I bought a pickup truck. I don't even like trucks and had never owned one.

One more question.... I had to pay 3000 baht non-refundable deposit for the MG, and I think it was 5000 for the truck. I'm sure the kind woman at the dealership gets a cut of that... Car salespeople will tell you ANYTHING to get you in the door. So just be prepared if you paid a 'fee' for starting the process.

brianthainess · July 14, 2021

OP You will always be in negative equity, interest is around 6% (interestingly BKK bank do not publish their rates in English) and lets hope for you nothing will affect your personal ability to spend 7 years paying it off, one would take a big loss if you ever need/want to sell. I hope you take into consideration service costs on top of the loan. It will never be yours until paid for in full.

DavisH · July 14, 2021

18 minutes ago, n8sail said:

Apologies! I somehow missed that your loan was 0% for 7 years. That is amazing... but does seem too good to be true.

I'm pretty sure the bank HQ will come back with deposit requirement, I was told that farangs must pay 25% minimum, and Thai co-signer. Hopefully I'm wrong!

Pickup trucks are pretty good pricing here as they are taxed differently and made here in Thailand. Passenger cars have insane taxes, though. MG was not too bad as it is made in China and there is a very favorable tax agreement between Thailand and China. A base-model Honda Accord for 1.4 million baht is absolutely INSANE. That is almost $43,000 NOW and exchange rates were much worse last year. A base model accord in USA is less than $24,000. So.... cars are definitely stupidly expensive here. Main reason I bought a pickup truck. I don't even like trucks and had never owned one.

One more question.... I had to pay 3000 baht non-refundable deposit for the MG, and I think it was 5000 for the truck. I'm sure the kind woman at the dealership gets a cut of that... Car salespeople will tell you ANYTHING to get you in the door. So just be prepared if you paid a 'fee' for starting the process.

Don't compare prices to US prices. You also need to factor in service costs, depreciation and resale. An old accord in the US is worth nothing. I haven't compared to Western car prices in 15 years. In terms of initial price, pickups are the best deal when comparing to Western prices, due to low tax rates.

0% interest for 7 years would be pretty good. The car market must be very slow at the moment.

mikecha · July 14, 2021

Credit in Thailand is always a risk .

i would think hard about doing this as you will be stuck for 7 years for pay back plus the big intrest

What happens if yourwork permit does not get a new year

in these times of covid 19 no body know s where and what wil happen

i would keep risks to a minimun but of course it is not my Business what you do

Like many say here what u buy or invest in Thailand be prepaired to walk away and forget ,

Sophon · July 14, 2021

20 hours ago, problemfarang said:

hi,

i know what you mean... but at the moment i dont have enough money to pay any deposit but only my old car. And paying monthly for 7 years will not do any harm to my life harmony. Also i dont think i will buy another car for a very very long time or maybe never. im buying mazda cx-30SP you can check here.. no interest at all. https://www.mazda.co.th/offers/latest-offers/

its a limited promotion from mazda.

Now waiting for the bank to reply my application. She said no problem but.. we all know nothings sure till you sign it in thailand..

Your link clearly states that the promotion on the CX-30 is for finance over 5 years with 25% down payment and 0.99% interest. Maybe the lady you talked to can get you an extra special offer, but that is what the official promotion is.

RAZZELL · July 15, 2021

Can a foreigner get a "loan" without a WP?

If they put down say 25% and have a Thai guarantor? (The Mrs?)

RAZZ

n8sail · July 15, 2021

27 minutes ago, RAZZELL said:

Can a foreigner get a "loan" without a WP?

If they put down say 25% and have a Thai guarantor? (The Mrs?)

RAZZ

As I understand it, you must have a work permit AND a Thai guarantor (can be anyone does not need to be any relation to you)

But, I was wrong about a 0% loan for 7 years, if in fact the OP's saleswoman is not pulling one over on him... as the link provided for the 'deal' is as stated above, 25% down etc.

OP, keep us updated even after the 2 weeks to get your passport back. These things are useful to know for all farangs here.

CrunchWrapSupreme · July 15, 2021

On 7/13/2021 at 7:13 PM, vinny41 said:

7 years with no deposit.

Normally its like paying for one full car and 50% of a 2nd car

My wife and I just recently financed a car. 7 year term. Cash price is 560k baht. Price after all payments will be 660k baht. Then we also put down 20k. So, the credit is costing us 120k, or a bit over 20% the price of the car.

problemfarang · July 15, 2021

16 hours ago, n8sail said:

Apologies! I somehow missed that your loan was 0% for 7 years. That is amazing... but does seem too good to be true.

I'm pretty sure the bank HQ will come back with deposit requirement, I was told that farangs must pay 25% minimum, and Thai co-signer. Hopefully I'm wrong!

Pickup trucks are pretty good pricing here as they are taxed differently and made here in Thailand. Passenger cars have insane taxes, though. MG was not too bad as it is made in China and there is a very favorable tax agreement between Thailand and China. A base-model Honda Accord for 1.4 million baht is absolutely INSANE. That is almost $43,000 NOW and exchange rates were much worse last year. A base model accord in USA is less than $24,000. So.... cars are definitely stupidly expensive here. Main reason I bought a pickup truck. I don't even like trucks and had never owned one.

One more question.... I had to pay 3000 baht non-refundable deposit for the MG, and I think it was 5000 for the truck. I'm sure the kind woman at the dealership gets a cut of that... Car salespeople will tell you ANYTHING to get you in the door. So just be prepared if you paid a 'fee' for starting the process.

Hi again,

I totally agree with you about the bank HQ. im also pretty sure whatever the lady told me, bank hq will say pay something.. i hope we all wrong hahaha

Same here, yes about 3000. Thats for the red number plate

Edited July 15, 2021 by problemfarang

vinny41 · July 15, 2021

2 hours ago, Sophon said:

Your link clearly states that the promotion on the CX-30 is for finance over 5 years with 25% down payment and 0.99% interest. Maybe the lady you talked to can get you an extra special offer, but that is what the official promotion is.

On the link provided there is a MAZDA CX-30 100TH ANNIVERSARY EDITION 0% interest down payment 25%, installment for 48 months

All brands have special offers and terms for government workers and those offers and terms are different from what non-government workers receive

problemfarang · July 15, 2021

16 hours ago, brianthainess said:

OP You will always be in negative equity, interest is around 6% (interestingly BKK bank do not publish their rates in English) and lets hope for you nothing will affect your personal ability to spend 7 years paying it off, one would take a big loss if you ever need/want to sell. I hope you take into consideration service costs on top of the loan. It will never be yours until paid for in full.

Hi..

Mazda service is not that bad. Ford is killing me. Like i said im planning not to sell it.. thats why im going for the top options and all for cx30

Thanks

problemfarang · July 15, 2021

5 hours ago, mikecha said:

Credit in Thailand is always a risk .

i would think hard about doing this as you will be stuck for 7 years for pay back plus the big intrest

What happens if yourwork permit does not get a new year

in these times of covid 19 no body know s where and what wil happen

i would keep risks to a minimun but of course it is not my Business what you do

Like many say here what u buy or invest in Thailand be prepaired to walk away and forget ,

Thanks for the heads up

problemfarang · July 15, 2021

2 hours ago, Sophon said:

Your link clearly states that the promotion on the CX-30 is for finance over 5 years with 25% down payment and 0.99% interest. Maybe the lady you talked to can get you an extra special offer, but that is what the official promotion is.

Hi,

If you go to mazda they will tell you that the thing on the website is general rule for 48months. Every showroom has their own promotions. The one im using is 0 down price or else. Like i said i already signed the paper work and downpayment is 0. I didnt pay anything. So its for real.

problemfarang · July 15, 2021

48 minutes ago, n8sail said:

As I understand it, you must have a work permit AND a Thai guarantor (can be anyone does not need to be any relation to you)

But, I was wrong about a 0% loan for 7 years, if in fact the OP's saleswoman is not pulling one over on him... as the link provided for the 'deal' is as stated above, 25% down etc.

OP, keep us updated even after the 2 weeks to get your passport back. These things are useful to know for all farangs here.

Hi,

Yes i will update.

Also as the link says 25% i already posted about that. Its just a standard text stays there whatever it happens. Important is to read the notes on the car pics.

Also as i said i alreqdy signed the papers and didnt paid 1 baht. So its real

problemfarang · July 15, 2021

9 minutes ago, vinny41 said:

On the link provided there is a MAZDA CX-30 100TH ANNIVERSARY EDITION 0% interest down payment 25%, installment for 48 months

All brands have special offers and terms for government workers and those offers and terms are different from what non-government workers receive

Its a general promotion from the showroom im buying or trying to buy. I already signed the papers and paid 0 baht. My quarantor is thai government employee. Thats all bank wants. A thai GOVERNMENT employee

vinny41 · July 15, 2021

29 minutes ago, problemfarang said:

Its a general promotion from the showroom im buying or trying to buy. I already signed the papers and paid 0 baht. My quarantor is thai government employee. Thats all bank wants. A thai GOVERNMENT employee

If That is the case I would cancel the paperwork and ask Mazda for the deal that they offer to Goverment employees as that deal should be better than the deal that is a general promotion

I have seen where a number of brands offer maximum discount 70,000 and when you try to press for more they ask are you a Goverment employee as we can offer different deals but only to Goverment employees

or goto a different Mazda showroom as see what sort of deal that you will be offered as a Goverment employee

As you can see many brands offer 0% interest and zero down payment and 7 years installment plans for Goverment employees only as you are considered less risky than other occupations

here is an example

https://www.hondaleasing.co.th/special-occupation

Edited July 15, 2021 by vinny41
additional info

problemfarang · July 15, 2021

26 minutes ago, vinny41 said:

If That is the case I would cancel the paperwork and ask Mazda for the deal that they offer to Goverment employees as that deal should be better than the deal that is a general promotion

I have seen where a number of brands offer maximum discount 70,000 and when you try to press for more they ask are you a Goverment employee as we can offer different deals but only to Goverment employees

or goto a different Mazda showroom as see what sort of deal that you will be offered as a Goverment employee

As you can see many brands offer 0% interest and zero down payment and 7 years installment plans for Goverment employees only as you are considered less risky than other occupations

here is an example

https://www.hondaleasing.co.th/special-occupation

Hi,

sorry for the misunderstanding. What i mean is that if its on my name, bank want a government employee as my guarantor. And its a must. They want a guarantor and must be working in government. They are not ok with some other thai person has a normal work. Thats the only way a farang can get a car loan from the bank.

I also checked the special promotions for government employees because as i said im working for the thai air force. Its not that big deals for cars. Big deals are for houses. When buying my home they made 200K discount.

Mazda's promotion will end at the end of this month. So i really hope my passport will be ready before that.

problemfarang · July 15, 2021

1 hour ago, n8sail said:

As I understand it, you must have a work permit AND a Thai guarantor (can be anyone does not need to be any relation to you)

It can be your wife. Now things changes if you co-sign with your wife.

Car will be under 2 names.

Thai government employee guarantor is only needed if you are farang, have work permit and want it in your name. thats what TBB bank lady told me that day at mazda meeting.

4MyEgo · July 15, 2021

On 7/14/2021 at 12:54 PM, problemfarang said:

And paying monthly for 7 years will not do any harm to my life harmony.

Naturally Mazda will provide you with 3 years warranty or 100,000 kilometres which ever comes first.

Have you taken into consideration how much each service will cost you around every 15,000 kilometres, add to that insurance. Also, you cannot take the car to someone else, and if you miss the service, your warranty is over.

I am old school, in other words, if you can't afford to buy a car cash, you can't afford the car, simple, now if you want to get yourself into debt, well join the rest of society, the only thing I will tell you is that when I purchased my new car with cash 6 years ago, I knew that once I would take depreciation and other costs into account that I would lose over 10,000 baht a month for the privilege of owning a new car, that's money down the drain for owning a new car, now you will of course have to add the interest on top of that, so the repayment are one thing to look at, but don't forget the total loss on the vehicle.

I use my car a lot, e.g. 32,000 kilometres per year so it pays me to lose the 10,000 baht per month on the car for the usage.

Perhaps you should reconsider, especially in this climate with the pandemic, people losing jobs, cars being repossessed by banks and finance companies, the 2nd hand market with cars under 5 years old looks good at the moment.

Edited July 15, 2021 by 4MyEgo

problemfarang · July 15, 2021

1 hour ago, 4MyEgo said:

Naturally Mazda will provide you with 3 years warranty or 100,000 kilometres which ever comes first.

Have you taken into consideration how much each service will cost you around every 15,000 kilometres, add to that insurance. Also, you cannot take the car to someone else, and if you miss the service, your warranty is over.

I am old school, in other words, if you can't afford to buy a car cash, you can't afford the car, simple, now if you want to get yourself into debt, well join the rest of society, the only thing I will tell you is that when I purchased my new car with cash 6 years ago, I knew that once I would take depreciation and other costs into account that I would lose over 10,000 baht a month for the privilege of owning a new car, that's money down the drain for owning a new car, now you will of course have to add the interest on top of that, so the repayment are one thing to look at, but don't forget the total loss on the vehicle.

I use my car a lot, e.g. 32,000 kilometres per year so it pays me to lose the 10,000 baht per month on the car for the usage.

Perhaps you should reconsider, especially in this climate with the pandemic, people losing jobs, cars being repossessed by banks and finance companies, the 2nd hand market with cars under 5 years old looks good at the moment.

Hi,

Thanks for the advices.

I really dont worry about my job. Im working for the thai air force. And they dont have the power to cancel or finish my job. So there is no problem there.

About car expenses.. yes i kinda calculate them. This promotion has 1 year best insurance you can get and car garantee 3 years or 200k km. So not that bad.

Im not sure about how to lose car insurance conditions. But the seller told me if i upgrade car i will lose all. Thats all. No other things she mentioned.

I also have a small basic garage in my home with car fixing stuff. I really enjoy and like doing small things. I can easily change the oil or do basic engine fixes. But i will not touch it at least 1 year.

Also thnx to your advices i will ask her some details again..

4MyEgo · July 15, 2021

15 minutes ago, problemfarang said:

Hi,

Thanks for the advices.

I really dont worry about my job. Im working for the thai air force. And they dont have the power to cancel or finish my job. So there is no problem there.

About car expenses.. yes i kinda calculate them. This promotion has 1 year best insurance you can get and car garantee 3 years or 200k km. So not that bad.

Im not sure about how to lose car insurance conditions. But the seller told me if i upgrade car i will lose all. Thats all. No other things she mentioned.

I also have a small basic garage in my home with car fixing stuff. I really enjoy and like doing small things. I can easily change the oil or do basic engine fixes. But i will not touch it at least 1 year.

Also thnx to your advices i will ask her some details again..

Most new car sales come with one year "complimentary insurance", this must be renewed every year, when the time comes, shop around and don't go without 1st class insurance because you will still owe money on the car and if it is ridden off in an accident or stolen they they will pay out the bank.

With regards to warranty, you must keep taking it to them during the 3 years, in other words, if you don't, you will lose the warranty, so for the sake of a few thousand baht each time it's best to keep taking it to them until the 3 years is up, I mean if you change the oil yourself to save a few thousand baht, and blow a gearbox or motor for arguments sake, you will have to pay for it as your warranty will be null and void, take it as extra insurance so to speak.

Enjoy the car in the meantime.

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