Buy A New Or Used Car With No Money Down

[ChiangMaiThai]

With all the car companies suffering a huge slowdown in sales, is there anywhere in Thailand now offering new or quality used cars with low interest rates and no money down?

For credit worthy buyers, it would seem the obvious thing to do as far as the car companies and dealers are concerned, no?

[Guest madcow]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

[ChiangMaiThai]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

Are you insane? How many people out there can afford to pay cash for their new car? So if they can't part with a million Baht now, they shouldn't buy a car?

I make plenty of money every month. I would rather pay over time on low interest and put my money to use elsewhere. It's people like you who don't understand how to leverage credit in your favor and think all debt is bad.

[Lopburi99]

With all the car companies suffering a huge slowdown in sales, is there anywhere in Thailand now offering new or quality used cars with low interest rates and no money down?

For credit worthy buyers, it would seem the obvious thing to do as far as the car companies and dealers are concerned, no?

I think no money down for a farang is unheard of in Thailand, even during these times. Even for a piece of crap used car my experience is they want a bundle down. However, for those working for the government (or meeting other qualifying criteria) I believe no money down on a new car is sometimes available during promotions.

[jesimps]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

What a high-handed reply to a perfectly reasonable request. What are you, a goody two shoes or something. I bet when someone got into trouble at school you went "nah nah-na nah nah". It's people like you who put people off asking perfectly acceptable questions and have caused the predicament the forum is in now!

[Guest madcow]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

What a high-handed reply to a perfectly reasonable request. What are you, a goody two shoes or something. I bet when someone got into trouble at school you went "nah nah-na nah nah". It's people like you who put people off asking perfectly acceptable questions and have caused the predicament the forum is in now!

I was the kid spent more time in the headmasters office getting caned than anyone , looking back I am glad of it .

How to handle money and finance should be taught in schools , unfortunately today , kids have credit cards before they are old enough to f..K , vote , get a drivers licence , leave school .

I love credit , its great , but if you are not using it to turn a profit , then you are going backwards .

[imaneggspurt]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

seems a bit harsh on him,. however in thailand ! for farang ? never,.......

[imaneggspurt]

Its people like you that have caused the predicament the world is in now .

If you cant pay cash for something , you cant afford it , especially depreciating items like cars .

Never borrow money to buy something unless that item will appreciate in worth , or unless it brings you in income .

Are you insane? How many people out there can afford to pay cash for their new car? So if they can't part with a million Baht now, they shouldn't buy a car?

I make plenty of money every month. I would rather pay over time on low interest and put my money to use elsewhere. It's people like you who don't understand how to leverage credit in your favor and think all debt is bad.

Hes obviously never been in business,. .ive had company cars, company credit cards, no problem and personal finance,.....some are just afraid of it,. as for cars being a poor investment, correct, thats what tax write off is for,.

[ChiangMaiThai]

Yes some people are unreasonably afraid of debt. If I can get a new car loan at 3%, then why pay cash? Why not use that money to make a return of more than 3% elsewhere?

I'm sure the going rate will still be 30-50% down for farang. But what about Thais? Are the dealerships offering no money down now in order to try and move some vehicles?

[CWMcMurray]

Cars are definitely not an investment... they are a convenience item.

I haven't seen any no money down promotions, but I have seen 50-60 k down for some low end vehicles.

Edited December 23, 2008 by CWMcMurray

[ArranP]

With money down what is the going interest rate on the credit portion ?

Are the prices of the cars inflated to accomodate the financing ?

I wouldn't like to transfer GBP into THB in this climate, but would like a car.

[ChiangMaiThai]

With money down what is the going interest rate on the credit portion ?

Are the prices of the cars inflated to accomodate the financing ?

I wouldn't like to transfer GBP into THB in this climate, but would like a car.

With money down, the credit portion is 3-4% on new cars. I;ve asked dealerships here in CM if there is any discount if I just buy it outright and they say no. Maybe I'm asking at the wrong places....

[CWMcMurray]

We also got the bank to lower the interest rate by 0.5% by making the first month's payment at the time we picked up the car instead of the end of the month.

[Soutpeel]

With money down, the credit portion is 3-4% on new cars. I;ve asked dealerships here in CM if there is any discount if I just buy it outright and they say no. Maybe I'm asking at the wrong places....

Without trying to be rude....suggest you are asking in the wrong country..

[rgs2001uk]

With money down, the credit portion is 3-4% on new cars. I;ve asked dealerships here in CM if there is any discount if I just buy it outright and they say no. Maybe I'm asking at the wrong places....

Without trying to be rude....suggest you are asking in the wrong country..

Without trying to be rude, suggest you are asking the wrong person in the showroom.

My wife bought a new car this year and was given a reduction for paying cash, after talking to the manager.

The salesperson was on a commission for selling cars on credit.

For those who are interested the showroom was the honda dealership in hua mark, bangkok

[stingray]

I recommend: Buy a used car and don't get headache for the next 4 years. It's better to buy a 150'k used car. Sure you'll have some repairs during the next 3 years for example. But you' still get a 100'k if you gonna sell it after 2 years.

[LivinLOS]

With money down what is the going interest rate on the credit portion ?

Are the prices of the cars inflated to accomodate the financing ?

I wouldn't like to transfer GBP into THB in this climate, but would like a car.

With money down, the credit portion is 3-4% on new cars. I;ve asked dealerships here in CM if there is any discount if I just buy it outright and they say no. Maybe I'm asking at the wrong places....

Dont forget Thais dont seem to understand that interest over the term should be depending on the amount outstanding, they just quote simple interest which about doubles the rate quoted.

So when you see Thai signs advertising 3.5% its really 7%..

[dingdongrb]

Cars are definitely not an investment... they are a convenience item.

lmfao.... You should try telling that BS to the car rental and leasing companies. :D :D

[stingray]

Cars are definitely not an investment... they are a convenience item.

lmfao.... You should try telling that BS to the car rental and leasing companies. :D :D

I know some classic cars, they triple their value in the last 10 years.

[cymruambyth1]

There will be a mechanism to do this available in about 6-9 months time.

We are involved in this registration procedure.

[xylophone]

Dont forget Thais dont seem to understand that interest over the term should be depending on the amount outstanding, they just quote simple interest which about doubles the rate quoted.

So when you see Thai signs advertising 3.5% its really 7%..

Was recently looking at buying a car cos too many hairy moments on the motorbike, and looked at the HP scenario, but didn't realise the above was the case. R u sure on that LivinLos??

[torrenova]

Was recently looking at buying a car cos too many hairy moments on the motorbike, and looked at the HP scenario, but didn't realise the above was the case. R u sure on that LivinLos??

I am sure as I have one on finance now. The rough calculations over 4 years double the interest element. Thus, 3.9% becomes approximately 7.8%.

The accurate calculations are on the net or if you PM me I'll send you an excel spreadsheet which does it all for you at any number you put in.

Basically on our purchase, borrowing about 680k, the "extra" interest over 4 years was about 40k compared to what it would have been on an APR based on a reducing balance.

As previously noted, Thais are oblivious to this and are just happy to get their mitts on the new motor.

[torrenova]

With all the car companies suffering a huge slowdown in sales, is there anywhere in Thailand now offering new or quality used cars with low interest rates and no money down?

For credit worthy buyers, it would seem the obvious thing to do as far as the car companies and dealers are concerned, no?

Another reason why this does not happen is the crap insurance system in Thailand. If you are not careful, you will get a new motor with only 80% coverage. In the UK, you would get a new car within the first year on a total loss.

Thus in Thailand, you could find someone who loses their car and actually owes the finance company money because of under insurance. I think the maximum is 90/95% which is what we got.

[cymruambyth1]

With all the car companies suffering a huge slowdown in sales, is there anywhere in Thailand now offering new or quality used cars with low interest rates and no money down?

For credit worthy buyers, it would seem the obvious thing to do as far as the car companies and dealers are concerned, no?

Another reason why this does not happen is the crap insurance system in Thailand. If you are not careful, you will get a new motor with only 80% coverage. In the UK, you would get a new car within the first year on a total loss.

Thus in Thailand, you could find someone who loses their car and actually owes the finance company money because of under insurance. I think the maximum is 90/95% which is what we got.

Whilst the 80% cover is 'currently' true, there will be a simple method of obtaining 100% coverage for your vehicle available after the New Year break.

As well as being able to buy a car with 'no money down' - see above - we are also involved in the 100% general vehicle insurance cover program.

Edited December 29, 2008 by cymruambyth1

[torrenova]

I refused 80%, which is a total piss take and got 90% or perhaps 95% (I'd have to check) for an extra thousand or two. My logic then went that if it was such a small amount extra for 90% say, then surely the same again would take it to 100%.

I guess Somchai would be having his burned out every 11 months if 100% insured but it is a totally bad thing for guys buying cars here.

[ChiangMaiThai]

With all the car companies suffering a huge slowdown in sales, is there anywhere in Thailand now offering new or quality used cars with low interest rates and no money down?

For credit worthy buyers, it would seem the obvious thing to do as far as the car companies and dealers are concerned, no?

Another reason why this does not happen is the crap insurance system in Thailand. If you are not careful, you will get a new motor with only 80% coverage. In the UK, you would get a new car within the first year on a total loss.

Thus in Thailand, you could find someone who loses their car and actually owes the finance company money because of under insurance. I think the maximum is 90/95% which is what we got.

Whilst the 80% cover is 'currently' true, there will be a simple method of obtaining 100% coverage for your vehicle available after the New Year break.

As well as being able to buy a car with 'no money down' - see above - we are also involved in the 100% general vehicle insurance cover program.

Can you provide more info on the no money down project you are working on? What company? What terms? What APR?