So less than 2 weeks ago i was playing pool and having a few beers with my brother-in law
Got a phone call at 1am and told he had collapsed and they were waiting for a ambulance and sadly he died .
 

He put 70k down on a used Mitsubishi Triton and paid for installments the last 5 months 

 

His wife has no money and the car finance is not in his name 

I said why not see if they can give a small amount back as he has not driven much since he bought it

Anyway they said bring it back and we will check the condition but i am sure they just want to get it returned and once its there how can she take it away again

 

Any ideas what to do as i would buy it from her but already have 2 vehicles

Plenty of relatives will want it but i expect they will not give her cash 

I still reckon its best to drop it off and call it a day but feel sorry for her losing so much money
 

In Thailand its very common for a cars to be purchased on finance and also sold with outstanding finance. 

 

 

Thus: your Brother In Laws wife should be able to 'sell the car with outstanding finance' and recover some of the 70,000 baht down-payment.

 

 

The amount of money you can recover from a vehicle depends largely on its depreciation. For a new car, there is typically an immediate drop in value of 10–15% the moment it leaves the showroom. For a second-hand vehicle, the initial depreciation is usually smaller, and in some cases, the car can be sold in a way that recoups the original downpayment, with the new purchaser taking over the remaining payments.

 

Of course, the exact figures will vary depending on whether the sale is private or through a tent, but in most cases, you should be able to recover something - which is far preferable to simply handing the car back.

 

It’s also important to remember that defaulting on the loan and returning the car could negatively impact a credit record, potentially making future borrowing more difficult (if ever required).

 

 

Quote

Plenty of relatives will want it but i expect they will not give her cash 

 

If they want it - theoretically, they can give your Brother-In-Laws-Wife the downpayment (or part of), and continue the repayments transfered into their name.

 

7 minutes ago, richard_smith237 said:

In Thailand its very common for a cars to be purchased on finance and also sold with outstanding finance. 

 

 

Thus: your Brother In Laws wife should be able to 'sell the car with outstanding finance' and recover some of the 70,000 baht down-payment.

 

 

The amount of money you can recover from a vehicle depends largely on its depreciation. For a new car, there is typically an immediate drop in value of 10–15% the moment it leaves the showroom. For a second-hand vehicle, the initial depreciation is usually smaller, and in some cases, the car can be sold in a way that recoups the original downpayment, with the new purchaser taking over the remaining payments.

 

Of course, the exact figures will vary depending on whether the sale is private or through a tent, but in most cases, you should be able to recover something - which is far preferable to simply handing the car back.

 

It’s also important to remember that defaulting on the loan and returning the car could negatively impact a credit record, potentially making future borrowing more difficult (if ever required).

 

 

 

If they want it - theoretically, they can give your Brother-In-Laws-Wife the downpayment (or part of), and continue the repayments transfered into their name.

 

Thanks yes i think she will probably just give it back
Shame really but better than getting someone else who will promise to give her some of the down payment in a week or 2 and never pay
It went through the owner at the tent so no finance through the bank
 

36 minutes ago, kwak250 said:

It went through the owner at the tent so no finance through the bank

Huh?   A personal loan from the tent owner?  Not very likely, tents provide finance for customers through finance companies/banks.

1 hour ago, kwak250 said:

I said why not see if they can give a small amount back as he has not driven much since he bought it

Not a chance, unfortunately, unless the tent owner buys the car back.

Figure out what it's worth and what is owed on it and go from there. 

 

If what is owed is significantly less than what it is worth, then it should be easy to find a buyer, 

 

If it's only worth a bit more than what is owed, just give it back. 

 

Take it to another tent and aske them what they will pay for it. 

1 hour ago, kwak250 said:

So less than 2 weeks ago i was playing pool and having a few beers with my brother-in law
Got a phone call at 1am and told he had collapsed and they were waiting for a ambulance and sadly he died .
 

He put 70k down on a used Mitsubishi Triton and paid for installments the last 5 months 

 

His wife has no money and the car finance is not in his name 

I said why not see if they can give a small amount back as he has not driven much since he bought it

Anyway they said bring it back and we will check the condition but i am sure they just want to get it returned and once its there how can she take it away again

 

Any ideas what to do as i would buy it from her but already have 2 vehicles

Plenty of relatives will want it but i expect they will not give her cash 

I still reckon its best to drop it off and call it a day but feel sorry for her losing so much money
 

The car finance is not in his name?

Whose name is on the loan papers?

19 minutes ago, Liverpool Lou said:

Huh?   A personal loan from the tent owner?  Not very likely, tents provide finance for customers through finance companies/banks.

Yes BIL was blacklisted and the tent owner made a contract and took a deposit 
The reason he went there was exactly because of this
You are correct though as i also questioned it.
The same car is probably only worth 150k on 12car and think he is paying 240k total inc interest

I'm confused by one poster surely your brother in laws wife, is your sister.

1 hour ago, richard_smith237 said:

Thus: your Brother In Laws wife

 

1 minute ago, brian69 said:

I'm confused by one poster surely your brother in laws wife, is your sister.

 

My brother in law is my wife's sister.

29 minutes ago, Liverpool Lou said:

Not a chance, unfortunately, unless the tent owner buys the car back.

The owner feels sorry for her as only just bought it and said bring it back so he can see the condition
I reckon he might give 5k maybe 10k if lucky but my guess is he will come up with some bs and just take it back without any payment
He keeps saying bring it back so he can check it but i reckon he knows when its back how are you going to take it away as the next monthly payment is due on 1st 
The owner got lucky on this one as someone else will put another 50k-70k down on it for sure
Will see tomorrow 9am as she wants me to drive it back
They did say get someone else to carry on with payments but i would probably drop it off and save any hassle 
 

24 minutes ago, chickenslegs said:

My brother in law is my wife's sister.

Yes we also have one of those

21 minutes ago, emptypockets said:

The car finance is not in his name?

Whose name is on the loan papers?

Its in my wifes sisters name

Just now, kwak250 said:

Its in my wifes sisters name

Then it is her problem to solve.

4 minutes ago, kwak250 said:

The owner feels sorry for her as only just bought it and said bring it back so he can see the condition
I reckon he might give 5k maybe 10k if lucky
The owner got lucky on this one as someone else will put another 50k-70k down on it for sure
Will see tomorrow 9am as she wants me to drive it back
They did say get someone else to carry on with payments but i would probably drop it off and save any hassle 
 

If the vehicle is only worth 150K, and the husband paid 70K down to buy it for $240, then the wife should be thankful if she gets anything, 

1 minute ago, Yellowtail said:

If the vehicle is only worth 150K, and the husband paid 70K down to buy it for $240, then the wife should be thankful if she gets anything, 

Yes i am saying that but you know they are like here if they paid 240k inc interest they think its worth 240k even in 5 years they still will say its worth 240k

We will see tomorrow morning i am thinking 3-5 k tops and think that would be good as the tent owner doesn't need to give anything and a good chance he might give zero

Whatever the OP works out, I hope he posts back and lets us know how he made out, along with any suggestions based on what he may do differently now that he's done it.

 

3 minutes ago, impulse said:

Whatever the OP works out, I hope he posts back and lets us know how he made out, along with any suggestions based on what he may do differently now that he's done it.

 

Oh i will do,  going at 9am so will post here the outcome

Good to see what people think and agree with all your posts

Fuel light is on and i broke my toe this morning falling over our new labrador puppy so luckily its only about 10k away

2 hours ago, kwak250 said:

Any ideas what to do as i would buy it from her but already have 2 vehicles

Plenty of relatives will want it but i expect they will not give her cash 

I still reckon its best to drop it off and call it a day but feel sorry for her losing so much money

One thing you should've learned by now is its not your problem and stay out of it. That works out best in the long run.

8 minutes ago, Hamus Yaigh said:

One thing you should've learned by now is its not your problem and stay out of it. That works out best in the long run.

Yes that's usually what I do but he was a great friend for the last 10-15 years and its the least I can do.

51 minutes ago, brian69 said:

I'm confused by one poster surely your brother in laws wife, is your sister.

2 hours ago, richard_smith237 said:

Thus: your Brother In Laws wife

 

 

 

No...  Example

 

You are Married to Nong

Nong's Brother is Somchai

Somchai is married to Nat >>  Nat is your Brother in Laws Wife !!!! 

 

23 minutes ago, kwak250 said:

32 minutes ago, Hamus Yaigh said:

One thing you should've learned by now is its not your problem and stay out of it. That works out best in the long run.

Yes that's usually what I do but he was a great friend for the last 10-15 years and its the least I can do.

 

Nice one - keeping it classy rather than those who'll turn their shoulder - its no surprise some people here struggle to get along well and remain isolated...  we read of them all the time on this forum - those who say things like "stay out of it, its not your problem"... 

10 minutes ago, richard_smith237 said:

 

 

Nice one - keeping it classy rather than those who'll turn their shoulder - its no surprise some people here struggle to get along well and remain isolated...  we read of them all the time on this forum - those who say things like "stay out of it, its not your problem"... 

It is amazing how many people will do absolutely nothing to help anyone, and it always seems to be these same guys that calls Thais greedy. 

39 minutes ago, richard_smith237 said:

 

 

No...  Example

 

You are Married to Nong

Nong's Brother is Somchai

Somchai is married to Nat >>  Nat is your Brother in Laws Wife !!!! 

Here is another example

 

Your mother’s brother’s only brother-in-law is asleep on your couch. Who is asleep on your couch?

I can't offer any help or advice here, but I would like to say well done in advance and good luck!

Either way, your efforts and conscience are worth more than a few thousand Baht.

19 minutes ago, richard_smith237 said:

 

 

Nice one - keeping it classy rather than those who'll turn their shoulder - its no surprise some people here struggle to get along well and remain isolated...  we read of them all the time on this forum - those who say things like "stay out of it, its not your problem"... 

Yes what would the point be doing that.

The locals always treat me well and often stop if i am walking thinking i need a lift

1 hour ago, kwak250 said:

Oh i will do,  going at 9am so will post here the outcome

Good to see what people think and agree with all your posts

Fuel light is on and i broke my toe this morning falling over our new labrador puppy so luckily its only about 10k away

Is the pup ok?

2 hours ago, chickenslegs said:

My brother in law is my wife's sister.

Really?  

2 hours ago, Yellowtail said:

If the vehicle is only worth 150K, and the husband paid 70K down to buy it for $240,

240k wasn't the purchase price, it was the purchase price plus the loan interest.