A parking lot filled with seized vehicles, ranging from pickup trucks to motorcycles, awaiting auction went viral on social media today. Vehicles, both old and new, are being auctioned at starting prices as low as 3,000 baht for cars and 100 baht for motorcycles. However, buyers must handle overdue taxes, fix damages and manage repairs by themselves.

 

Images of the crowded lot, purportedly filled with vehicles repossessed by finance companies, sparked widespread online discussions. Many online users shared their thoughts, reflecting the current economic struggle, with one user criticising the government for the economic downturn.

 

“You can find a new car, but in this economy, it’s more important to have enough to eat. This administration is so good at running the country [they are all] becoming rich.”

 

While other users shared their thoughts on the previous owners of the vehicles, criticising their spending habits.

 

“People have money to customise their cars but can’t pay the instalments. This is the result.”

 

 

Reporters confirmed that the lot in question belongs to a prominent auction company with multiple branches. The latest auction round took place yesterday at their main office and their Don Mueang lot. Vehicles at the auction start at 3,000 baht for cars and 100 baht for motorcycles.

 

The auction house provided additional details, stating that buyers must handle the transportation of their purchases. They also highlighted that the seized vehicles come with certain issues, such as non-functioning air conditioning, broken electric windows, and faulty batteries.

 

Additionally, buyers are responsible for paying any outstanding taxes. The vehicles are sold without a VAT of 7% and do not come with registration documents. Instead, the Office of the Narcotics Control Board (ONCB) will issue paperwork for new registrations.

 

The auction, while offering potential bargains, also serves as a reflection of the broader economic issues at play. The images of rows upon rows of cars and motorcycles waiting for new owners are a potent symbol of the financial struggles many are currently enduring.

 

By Ryan Turner

Image courtesy of เครือสหพัฒน์-แหลมฉบัง Facebook page

 

Source: The Thaiger 2024-07-03

 

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2 hours ago, snoop1130 said:

“You can find a new car, but in this economy, it’s more important to have enough to eat. This administration is so good at running the country [they are all] becoming rich.”

Well said.

Pay overdue taxes? No thank you. 

funny, these auctions are usually advertised after the auction has come to pass. IMHO it is likely a scam organized for the car tent sellers to refurbish their lots...

20 hours ago, snoop1130 said:

The vehicles...do not come with registration documents. Instead, the Office of the Narcotics Control Board (ONCB) will issue paperwork for new registrations.

 

These vehicles were repossessed for non-payment of loans, not seized in drug raids - so why is ONCB involved? 🤔

20 hours ago, snoop1130 said:

Images of the crowded lot, purportedly filled with vehicles repossessed by finance companies, sparked widespread online discussions. Many online users shared their thoughts, reflecting the current economic struggle, with one user criticising the government for the economic downturn

Shows the real state of the economy... 

I just love a buyers market and picking up lots of bargains everywhere ;)