Stopped The Monthly Payments For The Truck

[WARNING]

After a little info please if anybody knows,ive been paying for a isuzu d-max for the last 2 and half years 170.000 baht deposit and 9500 baht a month over 5 yrs,ive decided to walk and left the motor with the x its in here name,but they have a copy of my passport,somebody told me they can take the truck back to isuzu and get the deposit back and isuzu take the truck,is this true any info greatly appreciated.

[Ubon9]

After a little info please if anybody knows,ive been paying for a isuzu d-max for the last 2 and half years 170.000 baht deposit and 9500 baht a month over 5 yrs,ive decided to walk and left the motor with the x its in here name,but they have a copy of my passport,somebody told me they can take the truck back to isuzu and get the deposit back and isuzu take the truck,is this true any info greatly appreciated.

For sure they will take the truck back,but i'm not so sure they give you the deposit back.

[colino]

i have a pick up nearly on the same deal as you i was told by the finance company that if you default on the payments they take the vehicle back and as you defaulted on the payments you will not get any money back ,

best of luck

colino

[uwe_rayong]

If you pay 9500.- Baht a month and only 30 month to go it is a total of 285,000.- Baht.

I would imagine the market price of a 4 door Isuzu D-max from 05 is around 430,000 to 530,000 Baht.

So if you ex wants to sell the car for let say 385,000 Baht , I think it is pretty easy to find a buyer and she has also 100,000 Baht profit.

[colino]

If you pay 9500.- Baht a month and only 30 month to go it is a total of 285,000.- Baht.

I would imagine the market price of a 4 door Isuzu D-max from 05 is around 430,000 to 530,000 Baht.

So if you ex wants to sell the car for let say 385,000 Baht , I think it is pretty easy to find a buyer and she has also 100,000 Baht profit.

Only problem with that is that the finance company keeps the logbook for the truck until payed for in full

No book No sale

[uwe_rayong]

You can repay the sum early and get the book early. Leasing company will love that deal, you pay interest for the full length of time and they get there money back 2 1/2 years early.

[bino]

Unless you signed something... as guarantor of the loan for example (which I don't think a foeigner can do), the copy of your passport means nothing. Your ex is responsible to the finance company.

If she doesn't keep up the payments, the truck will be repoed (no money returned) and her credit record will get trashed.

[Rhodiebkk]

Unless you signed something... as guarantor of the loan for example (which I don't think a foeigner can do), the copy of your passport means nothing. Your ex is responsible to the finance company.

If she doesn't keep up the payments, the truck will be repoed (no money returned) and her credit record will get trashed.

Oh.... Joy!

[Ubon9]

You can repay the sum early and get the book early. Leasing company will love that deal, you pay interest for the full length of time and they get there money back 2 1/2 years early.

Hi Can you explain to me how you make a profit ? deposit 170.000 + 285.00 for the past 30 month you saying to pay in advance another 285.000 which will bring the total to 740.000.

[uwe_rayong]

The deposit and the payments for the last 30 month are made by whom?

You take into account what happened before. Now the situation is, you have to make 30 x payments each 9500 Baht. That is a total of 285000. The truck is at least worth 430000 Baht (more likely 520000 Thb.)

Month 60x9500 = 570000

Down =170000

Total =740000

In May 08 already paid

30 x 9500 =285000

Down 170000

Total 455000

Leasing 740000

Still open 285000

Payments open 285000 - car value at least 430000. Is that so difficult to understand?

The Car will only be repossessed if she doesn`t pay anymore. But if she is not totally stupid she will go to the next car tent and offer it there, he will know how is easy it is to get the book when the full payment is done.

If she is a little bit more clever, she will try to sell the car by herself.

@Ubon9:

I was speaking of the ex girlfriend not member "warning". Of course warning lost the whole 455000, somebody must lose something if the other party can make a profit

Even a D-Max has deprivation over 2 1/2 year, but not 455000.

I only mentioned it because the tenor here is: Ohhh, she is in deep sh*t now... I can`t see that.

[bdenner]

Got a friend whose pick up was snatched back - bought new in the missus name for 850K of which he placed a 450K deposit. Made payments for 7 months then got into financial strife. He tried to sell it without the books, no go of coarse. The car was reprocessed 5 months later and he did not see a Satang even though the car was obviously worth more than he owed.

The missus just went down to the bike shop and placed a deposit on a new one --- So much for credit ratings in this country.

[uwe_rayong]

Got a friend whose pick up was snatched back - bought new in the missus name for 850K of which he placed a 450K deposit. Made payments for 7 months then got into financial strife. He tried to sell it without the books, no go of coarse. The car was reprocessed 5 months later and he did not see a Satang even though the car was obviously worth more than he owed.

The missus just went down to the bike shop and placed a deposit on a new one --- So much for credit ratings in this country.

Main reason he could not sell the car because his name was not in the book and ex-girlfriend was not cooperative.

Buy a thai newspaper for used cars, there is not much english text inside - but you will find on every second page "Black List No Problem".

If the down payment is big enough...

[moo9]

Got a friend whose pick up was snatched back - bought new in the missus name for 850K of which he placed a 450K deposit. Made payments for 7 months then got into financial strife. He tried to sell it without the books, no go of coarse. The car was reprocessed 5 months later and he did not see a Satang even though the car was obviously worth more than he owed.

The missus just went down to the bike shop and placed a deposit on a new one --- So much for credit ratings in this country.

I am also considering to sell my car, which is still for 2 years under finance. It should be possible, as someone wrote before, it's a nice deal for the finance company.

I have no idea how to do it with the exchange book / money, but surely there is a way.

If you return the car to the dealer where you bought it without buying another new car you will probably get a bad price, but anyway worth a try as the procedure could be more simple.

Good Luck!

[WARNING]

Thankyou all for your replys,the reason why i posted was when i upped and left the x,within a day a fellow farang in the village told me they took the truck back to isuzu and were walking around the village gloating they got 150.000 baht deposit back,maybe thai style to save some face,it made me a little angry but what the hel_l im now free from a lifetime of hassle..thankyou all once again..

[uwe_rayong]

Hello Moo9,

what kind of car do you like to sell and how much is still open with the leasing company?

Maybe somebody here is interested, this is the Motor Forum

The exchange is very easy if you got the money, just call the leasing company and ask. I did it before 3 years with a leased Nissan, took around 10 days to receive the book by EMS. Payment was made by bank transfer.

I really have problems to understand the logic of that story:

Got a friend whose pick up was snatched back - bought new in the missus name for 850K of which he placed a 450K deposit. Made payments for 7 months then got into financial strife.

Why not talk with the ex, let us sell the car blabla and split the money - Thaigirls most times react positive if the see cash on the horizon .

7 month old pickup new 850000 Baht, sell it for 650000 very fast and split the money.

So you friend lost the whole 450000 plus 7 monthly payments - more then 500000 blown in the wind for pride.

By the way, the ex was not the brightest bulb in the shop also. She was the owner of the leasing contract. If she was "Naa Darn" a lot, she had just called him within the first 24 hours:

Good morning Darling,

it is 10 o`clock - I hope you slept well and your hangover is not too bad.

You may take a aspirin before you drive to the car wash and refill my pickup. I want to take a ride with me new young thai boyfriend ( in the car ) around 12 o`clock.

In case the car is not here by noon, I'll report it as stolen incl. your address.... Have a nice day

[Ubon9]

After a little info please if anybody knows,ive been paying for a isuzu d-max for the last 2 and half years 170.000 baht deposit and 9500 baht a month over 5 yrs,ive decided to walk and left the motor with the x its in here name,but they have a copy of my passport,somebody told me they can take the truck back to isuzu and get the deposit back and isuzu take the truck,is this true any info greatly appreciated.

Hi Warning, can you tell me is a 2 dor o 4 dors,and if you remember how many Km.you have done.

Ubon

[WARNING]

After a little info please if anybody knows,ive been paying for a isuzu d-max for the last 2 and half years 170.000 baht deposit and 9500 baht a month over 5 yrs,ive decided to walk and left the motor with the x its in here name,but they have a copy of my passport,somebody told me they can take the truck back to isuzu and get the deposit back and isuzu take the truck,is this true any info greatly appreciated.

Hi Warning, can you tell me is a 2 dor o 4 dors,and if you remember how many Km.you have done.

Ubon

2 door 30.000km,i hear from a farang source its not been on the driveway for 3 weeks,i gather its gone,i wouldnt know has i have no correspondance with this family now..

[ongcuunon]

Thankyou all for your replys,the reason why i posted was when i upped and left the x,within a day a fellow farang in the village told me they took the truck back to isuzu and were walking around the village gloating they got 150.000 baht deposit back,maybe thai style to save some face,it made me a little angry but what the hel_l im now free from a lifetime of hassle..thankyou all once again..

Don't let such BS get under your skin. I am almost certain she did not get the deposit back.

I was a senior executive in the head offices of two of the world's top captive finance companies (finance companies owned by the manufacturer) before retiring to Thailand. Quite simply, the chance of a full refund on an early termination of a lease is virtually zero, unless by some chance the vehicle has appreciated. Furthermore, the deposit is never returned until after the vehicle has been sold at auction, which even in Thailand takes several weeks at best, and the loss (a certainty worth betting on) calculated.

Let her pretend and move on with your life. Sounds like you're better off without her.

[elkangorito]

Is it legal to sell "encumbered" vehicles in Thailand?

[Ubon9]

Is it legal to sell "encumbered" vehicles in Thailand?

You make me look the dictionary

[bob4you]

Are the cars sold at a public auction or at a private one @b10 per b100? If public auction, where is it held? Anyone ever buy there? Worth going to when looking for a car or not?

[Benji]

For what it's worth, I reckon she sold it "via" the dealer and after paying off the finance "profited" by a few baht

Getting the deposit back does not happen anywhere in the world in this kind of situation but I guess it can "save face" if others are gullible enough to believe it

[torrenova]

Anyone know if you can get a discount for paying off a car loan agreement (D-Max with Siam Commercial Leasing) early ?

[Ubon9]

Are the cars sold at a public auction or at a private one @b10 per b100? If public auction, where is it held? Anyone ever buy there? Worth going to when looking for a car or not?

My brotherinlaw is a mechanic and same time the buy cars on auction,from what it told me is not easy you must be able to chek the car or bring with you a mechanic you can trust to look at the car; and is difficult to buy only one car usually they sell in lot of 2-3 or more cars.

[uwe_rayong]

Hi torrenova,

you'll not get a discount for an early payback of a leasing contract. You will need to pay the full amount, but that is always possible.

Uwe

[torrenova]

Hi torrenova,

you'll not get a discount for an early payback of a leasing contract. You will need to pay the full amount, but that is always possible.

Uwe

Sorry, perhaps I was not clear. We bought the truck 12 months ago on 4 year's finance (like HP). Due to the way they work out finance here, we owe 75% of the borrowed amount plus 75% of the total interest. I wondered if we paid off the 75% capital could we get a reduction on the outstanding interest ? If not then it makes no sense but if we could, then I might be interested.

[bram]

Hi torrenova,

you'll not get a discount for an early payback of a leasing contract. You will need to pay the full amount, but that is always possible.

Uwe

Sorry, perhaps I was not clear. We bought the truck 12 months ago on 4 year's finance (like HP). Due to the way they work out finance here, we owe 75% of the borrowed amount plus 75% of the total interest. I wondered if we paid off the 75% capital could we get a reduction on the outstanding interest ? If not then it makes no sense but if we could, then I might be interested.

Just ask your finance company ! Mine will give me a little discount if i pay all back in once but not expect much .

[Farma]

To give an idea how of many missed payments before they will repossess, a Thai man who used his pickup as a taxi where I live has just had his pickup repossessed after missing 4 months repayments. They waited until he was away from his car then took it.

[Gravelrash]

My ex wife found herself with a chevy cab in her name she could no longer make payments on, rather than give it back to the finance company and get nothing she drove it to the Cambodian border and didn't come back with it.

You know the finance mobs here think they are so clever not allowing those with the money, namely us that is, have the car in our names. If they did the things would nostly get paid out as the foreigners generally don't really want those sort of headaches.

Just to add some more, we also had a sedan free of finance, which she got a loan against thinking she would use the cab, then dumped it on me, car and repayments that is. So if I didn't pay for it, again, then they would repossess it. I paid it for a year and then checked the market value which was then the same as the repayments. So went to the finance and aked if I continued the other 3 year payments or paid it out ten and there could I change it to my name. Naturally this was all impossible to do without the "owners" consent and ream of papers duly signed and notorised, which was never going to happen.

So I then explained to them that in that case I would return the car to my ex wifes family and make no further payments on it. They said "up to you" as they would just repossess it. So I then enlightened them about the cab and it's new life in Cambodia and asked did they have an office there as well to repossess. This they took deadly seriously and the whole tone changed to suddenly wanting me to keep the car and keep up the payments. I declined as I am buying a new one in my own name. Seems my ex is not the only one doing a Cambodia run.