Car Auctions

[mark100]

Would anyone be able to advise me of a decent motor auction here in Thailand, l have seen adverts for many different places now but would prefer to use a site where l can get decent feedback from previous customers. l am after a 2009/ 2010 toyota vigo 4 x 4.

lf anyone has used one of these sites would they be able to write about the how the process works. Many thanks. Mark

l apologise if this has already been covered !!

[stingray]

For a 2009 or 2010 used Vigo, you'll pay almost the price of a new one (as 2010 just started now). I think it's better to buy a new one

[mark100]

For a 2009 or 2010 used Vigo, you'll pay almost the price of a new one (as 2010 just started now). I think it's better to buy a new one

Yes you may be right, just seems to be so many of these auctions advertised right now with late model cars, can't believe how many Thais go out and buy these things without any real thought on how they are going to pay ??? Have a friend of mine who works for Toyota in Bangkok, he says people get them and just drive them as much as they can knowing they are going to be repocessed, and that have no money to pay for them !!

Seems a very strange way to think, because surely they must pay a depoist ?? l know Thai society is very much about material wealth and what you have, but the flipside to the coin must be the loss of face when it gets repocessed.

l was just hoping l might find someone who had used one of these places because they are offering 20 - 30 % savings over new, which is alot of money to me, but of course buying new you know the complete history of the car.

[Riley'sLife]

Knowing what Thais do to their cars when they know a repo is in the offing, the best advice I would offer is don't even think about it. I was invited to a repo auction in Bkk a few years ago by a Thai pal working for a Finance Co., as he knew I was interested in buying a car at the time.The prices obtained were well above the written down values and represented very poor value for money especially considering the risks.

It's quite common for parts to be replaced by old parts etc, even engines to be swopped. Maybe buy second hand from a Franchise Dealer. I was in Chiang Mai recently and noticed that Toyota had a second hand vehicle showroom there. Maybe you can find somewhere similar.

[mark100]

Knowing what Thais do to their cars when they know a repo is in the offing, the best advice I would offer is don't even think about it. I was invited to a repo auction in Bkk a few years ago by a Thai pal working for a Finance Co., as he knew I was interested in buying a car at the time.The prices obtained were well above the written down values and represented very poor value for money especially considering the risks.

It's quite common for parts to be replaced by old parts etc, even engines to be swopped. Maybe buy second hand from a Franchise Dealer. I was in Chiang Mai recently and noticed that Toyota had a second hand vehicle showroom there. Maybe you can find somewhere similar.

Thanks for the info, this is what l needed to know someone with real experience of this, l think buying new could be the best option, l know most of the non franchised dealers buy from auctions so it would seem a bit of a lottery.

[keemapoot]

I attended an auction a few weeks ago, and was shocked at how high the prices were. They were nearly at retail, and these are for vehicles which you can't check out and don't know the history of. Vigos were among the most popular, and the bidding just kept going. Fords were selling for less, but Toyota and Isuzus were swamped with bidders.

A total waste of time in my opinion, and yes, a new car would be nearly the same price.

This was a bank repo auction, and they also had reserves and minimum bids. No bargains at all. However, motorbikes were bargains.

[katabeachbum]

For a 2009 or 2010 used Vigo, you'll pay almost the price of a new one (as 2010 just started now). I think it's better to buy a new one

Yes you may be right, just seems to be so many of these auctions advertised right now with late model cars, can't believe how many Thais go out and buy these things without any real thought on how they are going to pay ??? Have a friend of mine who works for Toyota in Bangkok, he says people get them and just drive them as much as they can knowing they are going to be repocessed, and that have no money to pay for them !!

Seems a very strange way to think, because surely they must pay a depoist ?? l know Thai society is very much about material wealth and what you have, but the flipside to the coin must be the loss of face when it gets repocessed.

l was just hoping l might find someone who had used one of these places because they are offering 20 - 30 % savings over new, which is alot of money to me, but of course buying new you know the complete history of the car.

Vigo 4x4 is minimum 25% down, so most buyers keep paying for them. 3 years old VIgo 4x4 4 door auto G leather still sells at 6-700k.

Have only been to one tanachart auction. Most vehicles where those sold new with low down, like newish 2 door 2wd pickups, chevy cars, mitsu cars, ford cars, or 3-6 years old any brand. Amazingly high prices, not interested in buying one of the 120 units at selling price.

[stingray]

For a 2009 or 2010 used Vigo, you'll pay almost the price of a new one (as 2010 just started now). I think it's better to buy a new one

Yes you may be right, just seems to be so many of these auctions advertised right now with late model cars, can't believe how many Thais go out and buy these things without any real thought on how they are going to pay ??? Have a friend of mine who works for Toyota in Bangkok, he says people get them and just drive them as much as they can knowing they are going to be repocessed, and that have no money to pay for them !!

Seems a very strange way to think, because surely they must pay a depoist ?? l know Thai society is very much about material wealth and what you have, but the flipside to the coin must be the loss of face when it gets repocessed.

l was just hoping l might find someone who had used one of these places because they are offering 20 - 30 % savings over new, which is alot of money to me, but of course buying new you know the complete history of the car.

This is not really the case. Thais can't just get easy finance, as they must have a steedy income in the bank, during last 6 months, must have a secure Job (working in a bar would not be considered) and someone have to be a garantor as well. Actually they maybe could pay or not, but maybe there is some reason for not to pay, like family matters or what ever. I mean with all the million of cars on the road in Bangkok for example, there is a very small number of cars who get's reposessed and come back to the auction. I remeber when i use to living in Honolulu (Hawaii), there are much more cars reposessed and went to (Aloha) auction on that small little island than overhere in Bangkok.

And then another thing. So sonest the car is on finance, it getting more expensive. So it means, for example, a 800'000 Baht car, put in finance getting to close to 900'000 Baht. So if the owner not pay the finance after 6 months, there is a outstanding finance of about over 700'000 Baht ( if he payd only 10% down). So then with for example 720'000 Baht outstanding finance (plus interest), plus dealer mark up the car would cost almost the new price. This is the reason why, for example, 6 year old Honda Jazzes still much more than 400'000 Baht in the used car marked. Locals buy those cars as they can get finance now with a very small downpayment. But foreigners would not buy a 6 year old car (with 150'k on the ODO meter) for 450'k for example. So auctuions in Thailand doesn't mean "CHEAP". It's just another way to buy a car for peaple who "think" it's cheap, but it is not, because you CAN'T testdrive the car you want to buy.

[mark100]

I attended an auction a few weeks ago, and was shocked at how high the prices were. They were nearly at retail, and these are for vehicles which you can't check out and don't know the history of. Vigos were among the most popular, and the bidding just kept going. Fords were selling for less, but Toyota and Isuzus were swamped with bidders.

A total waste of time in my opinion, and yes, a new car would be nearly the same price.

This was a bank repo auction, and they also had reserves and minimum bids. No bargains at all. However, motorbikes were bargains.

Thankyou for replying, this was the information l needed.

[mark100]

For a 2009 or 2010 used Vigo, you'll pay almost the price of a new one (as 2010 just started now). I think it's better to buy a new one

Yes you may be right, just seems to be so many of these auctions advertised right now with late model cars, can't believe how many Thais go out and buy these things without any real thought on how they are going to pay ??? Have a friend of mine who works for Toyota in Bangkok, he says people get them and just drive them as much as they can knowing they are going to be repocessed, and that have no money to pay for them !!

Seems a very strange way to think, because surely they must pay a depoist ?? l know Thai society is very much about material wealth and what you have, but the flipside to the coin must be the loss of face when it gets repocessed.

l was just hoping l might find someone who had used one of these places because they are offering 20 - 30 % savings over new, which is alot of money to me, but of course buying new you know the complete history of the car.

This is not really the case. Thais can't just get easy finance, as they must have a steedy income in the bank, during last 6 months, must have a secure Job (working in a bar would not be considered) and someone have to be a garantor as well. Actually they maybe could pay or not, but maybe there is some reason for not to pay, like family matters or what ever. I mean with all the million of cars on the road in Bangkok for example, there is a very small number of cars who get's reposessed and come back to the auction. I remeber when i use to living in Honolulu (Hawaii), there are much more cars reposessed and went to (Aloha) auction on that small little island than overhere in Bangkok.

And then another thing. So sonest the car is on finance, it getting more expensive. So it means, for example, a 800'000 Baht car, put in finance getting to close to 900'000 Baht. So if the owner not pay the finance after 6 months, there is a outstanding finance of about over 700'000 Baht ( if he payd only 10% down). So then with for example 720'000 Baht outstanding finance (plus interest), plus dealer mark up the car would cost almost the new price. This is the reason why, for example, 6 year old Honda Jazzes still much more than 400'000 Baht in the used car marked. Locals buy those cars as they can get finance now with a very small downpayment. But foreigners would not buy a 6 year old car (with 150'k on the ODO meter) for 450'k for example. So auctuions in Thailand doesn't mean "CHEAP". It's just another way to buy a car for peaple who "think" it's cheap, but it is not, because you CAN'T testdrive the car you want to buy.

The information l had recieved was probably no different to the rest of the world, with the global credit crunch reposessions are on the increase everywhere, but l do think some Thai's live for today, without the thought of how to pay for tomorrow, but of course you get these kind of people everywhere.

Your point about the finance situation is correct and something l had never considered before, everything you buy here in Thailand holds its value, so why not cars with finance, obviously these companies are looking to recover as much money as they can from these vehicles, so the chance of a bargain is very slim.

Having considered all the options and taken the advice written l will buy new from toyota, thankyou for taking the time to reply.

[Thanyaburi Mac]

Knowing what Thais do to their cars when they know a repo is in the offing, the best advice I would offer is don't even think about it. I was invited to a repo auction in Bkk a few years ago by a Thai pal working for a Finance Co., as he knew I was interested in buying a car at the time.The prices obtained were well above the written down values and represented very poor value for money especially considering the risks.

It's quite common for parts to be replaced by old parts etc, even engines to be swopped. Maybe buy second hand from a Franchise Dealer. I was in Chiang Mai recently and noticed that Toyota had a second hand vehicle showroom there. Maybe you can find somewhere similar.

Check out Toyota "SURE," they're part of Toyota, I believe, usually sit right next to a dealer, and sell 2nd hand Toyotas that have been rehabbed.

www.toyotasure.com

http://www.toyotasure.com/want_tobuy/index...;sFamily=HILVIG

Mac

[mark100]

Knowing what Thais do to their cars when they know a repo is in the offing, the best advice I would offer is don't even think about it. I was invited to a repo auction in Bkk a few years ago by a Thai pal working for a Finance Co., as he knew I was interested in buying a car at the time.The prices obtained were well above the written down values and represented very poor value for money especially considering the risks.

It's quite common for parts to be replaced by old parts etc, even engines to be swopped. Maybe buy second hand from a Franchise Dealer. I was in Chiang Mai recently and noticed that Toyota had a second hand vehicle showroom there. Maybe you can find somewhere similar.

Check out Toyota "SURE," they're part of Toyota, I believe, usually sit right next to a dealer, and sell 2nd hand Toyotas that have been rehabbed.

www.toyotasure.com

http://www.toyotasure.com/want_tobuy/index...;sFamily=HILVIG

Mac

Thanks for the info, l will check it out