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15-Year-Old Faces 1.3m BMW Bill in Bangkok

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2 minutes ago, Photoguy21 said:

Since always

In which country ?

To pay vehicle (car/bike/suv/pickup/etc etc) road tax in Thailand compulsory insurance (por ror bor) is require but not voluntary.

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  • Jim Waldron
    Jim Waldron

    A sharp contrast in behaviour here. First, we have a 15‑year‑old who acquires a 3.7‑million‑baht BMW through discipline and entrepreneurial skill. Then, there is the academic who gets to use the

  • matchar
    matchar

    A lot of lessons to be learned here, for both the 15 year old and the parents!

  • ikke1959
    ikke1959

    A 15 year old teacher and a BMW of 3,7 million?? It must not be crazier in this country.. He can't even have a car driving license nor he is able to buy the car without his father signature...Stupidit

No different then many adults who buy swanky cars but do not have any cash left for fuel or basic regular maintenance. All about show and image due to high lack of self esteem. Sad the amount of people who foolishly think driving in a swanky car give them more status or respect...

6 hours ago, Front Row said:

What a silly question! Of course car insurance is available in Thailand.

But is insurance available for short time car hire vehicles

And if so which companies will cover it?

No insurance on a new car? Lending the car out to generate income? Since when will a financial firm loan money for an uninsured new car?
Live and learn the hard way I guess. Up next: walk away from the responsibility to pay the loan? I've no sympathy for people who want to own status symbols.

Edited by connda

6 hours ago, LALes said:

A woman "borrows" a car and then demands 100,000 baht to return it??

She should be brought up on extortion or theft charges.

Why didn't the 15 year old's family go to the police after such a demand?

Something doesn't add up here.

they loaned the car out to a rental company but didnt carry insurance which would have covered the issue if properly covered. they couldnt afford it to start with and should have never been allowed to "buy it" but that's how they do things here. The police should have notified the registered owner after the accident since the driver wasn't the owner but no mention of that.

23 hours ago, Rams86 said:

I'm sure the taxation department will be sniffing around this one

You think part-time teaching will earn him more than B150,000 per year?

22 hours ago, ikke1959 said:

His parents should educate him not to drive without a driverslicense

Where was it reported that he was driving the car?

22 hours ago, temuFarang said:

Is car insurance a product available in Thailand? Anyway, what kind of parent would allow a 15-year-old to buy a BMW?

Probably the kind of parent that I can see the entrepreneurial benefit of an income from that car being rented out.

7 hours ago, Scouse123 said:

Then it's out on hire to get additional income for payments, meaning they obviously couldn't afford the payments in the first place after the initial deposit, and searched for other forms of income to pay the monthly instalments.

Isn't that the fundamental reason some foreigners put their condominiums on Airbnb? Because they can't (never could) meet the mortgage payments and need the rental income to make up the numbers on their investment?

2 hours ago, Sigmund said:

No different then many adults who buy swanky cars but do not have any cash left for fuel or basic regular maintenance. All about show and image due to high lack of self esteem. Sad the amount of people who foolishly think driving in a swanky car give them more status or respect...

Those driving swanky cars do get respect , the only problem is, its from the sort people who give respect to others based on what vehicle they drive.

in the video it looks as if it was intentionally crashed into the other vehicle Presumably the damage to the other car was covered by his Por ror bor legal minimum compulsory insurance ? . I predict his "students" will be offered additional lessons, I also suspect they will be finding their own way to school

A car is not an investment but an expense...Let me get this straight...he rents it out to cover installment payments yet he is not old enough to drive?

Why go into debt? Should have stock in a company of his choice (after he did his research)

Great on computer skills less so on financial management...what about not having car insurance especially on a rental vehicle?

Family is entering butter knife territory on IQ

Bro richer than 90% who posted on this thread

On the bright side, no one was hurt

10 hours ago, NanLaew said:

Isn't that the fundamental reason some foreigners put their condominiums on Airbnb? Because they can't (never could) meet the mortgage payments and need the rental income to make up the numbers on their investment?

I wouldn't know, I wouldn't be so daft.

As my MAM said, if you can't pay cash, you can't afford it.

It was an old way of thinking, I suppose, but did me not much harm.

18 hours ago, Sigmund said:

No different then many adults who buy swanky cars but do not have any cash left for fuel or basic regular maintenance. All about show and image due to high lack of self esteem. Sad the amount of people who foolishly think driving in a swanky car give them more status or respect...

My understanding of East Society you described is how society works here.

Like you mentioned some think the attraction of a high value or socially popular but exclusive item will Mask the lack of basic attributes or skills. Maybe lack of psychological development and understanding meaning it is at the level of a late stage teenager.

Pay the man spoiled brat.

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