2Nd Hand Cars

[geomag]

Hi,

Getting a place for rent in hua hin for weekends and holidays and need some wheels to et me up and down the road. Was looking at renting long term but would really like my own. Do any of the 2nd hand dealers do finance or do you have to buy outright?

Thanks for any help.

[onnut]

You can get finance on 2nd no problem. Talk to a dealer and they will sort it out for you.

[geomag]

Any recommendations for dealers in Bangkok? Probably looking for a pick up.

Thanks

You can get finance on 2nd no problem. Talk to a dealer and they will sort it out for you.

[onnut]

I have never bought a 2nd hand of a dealer. Always private and normally from a friend of a friend. But there is a guy who I sold a couple of cars too and he seemed ok to me I think he is a friend of a wifes friend. I will get his number and location and pm you details.

[Xonax]

The interest rate for 2nd hand cars in Thailand is around 3 times higher than for new cars, so you might want to pay with cash or consider to buy a new car instead. Please note that , the depreciation loss for cars in Thailand is generally much smaller than abroad.

Please also be aware that in Thailand, the interest rate is always calculated from the initial principal every month untill the loan has been paid, so as you minimize your principal, your interest in procent of the remaining amount will be increasing dramatically, if you compare to the reciprocally calculated loans offered abroad. If you loan 300.000 with an interest rate at e.g. 8% p.a. the monthly interest of THB 2.000 may seem reasonable enough for the first payments, but when only e.g. 100.000 THB remains to pay, you still pay THB 2.000 in interest per month, which is now 24% p.a. of the remaining amount, and you will not be able to just pay the THB 100.000 without having to pay the interest rate for the remaining period of time. When THB 50.000 remains to pay, you still pay THB 2.000 in interest per month, which is now 48% p.a. of the remaining amount, and you will still not be able to finish the loan, without having to pay the interest rate for the remaining period of months/years.

For new cars the interest rate is more like around 3% p.a. and even with 1/3 of the initial loan amount remaining the interest of the principal will in comparation be an eatable 9% p.a. of the remaining amount.

Basically what I mean is, that the total interest paid and the depreciation loss over the years, will not be much higher for a new car, than for a 2nd hand car.

Edited September 7, 2010 by Xonax

[Richmah]

i got a 2007 vios to sell. auto. any one interested. 1 owner tip top con.

[cshort64]

ONNUT you made a very interesting statement in your original posting, that "You can get finance on 2nd no problem", this is the first time I have heard it. I'm not questioning your statement but I would like to understand more as I was not sure you could get any financing for a car here in Thailand if you were a foreigner.

Any details you can share on how it works, documentation required, etc... I would be most grateful.

Cheers

C

[JohnnyFeelIt]

ONNUT you made a very interesting statement in your original posting, that "You can get finance on 2nd no problem", this is the first time I have heard it. I'm not questioning your statement but I would like to understand more as I was not sure you could get any financing for a car here in Thailand if you were a foreigner.

Any details you can share on how it works, documentation required, etc... I would be most grateful.

Cheers

C

There are 101 threads on foreigners getting finance for cars

[gotlost]

ONNUT you made a very interesting statement in your original posting, that "You can get finance on 2nd no problem", this is the first time I have heard it. I'm not questioning your statement but I would like to understand more as I was not sure you could get any financing for a car here in Thailand if you were a foreigner.

Any details you can share on how it works, documentation required, etc... I would be most grateful.

Cheers

C

There are 101 threads on foreigners getting finance for cars

And this must be the 102 thread.

[onnut]

I posted on another thread before here. I have bought two new cars on finance and one car that was three months old all on finance.

Go to the dealer choose your motor and they will do the rest. You just need to supply the paperwork they ask for.

Visa, permits, bank statements, Thai Garantee. That sort of stuff. Easy peasy.