Bt100,000 Excise Tax Cut For First-Car Buyers

[tpthai2]

The Cabinet also approved the maximum Bt100,000 excise tax cut for first-car buyers, for the purchases of vehicles with no more than 1,500cc engine during September 16, 2011 to December 31, 2012."

Have not seen any details on this as of this posting. The original PT stated proposal was vehicles under 1 million bt., now it seems approved at 1500cc and under. Rather limiting

the choices. Pickups are out on this one. Also some foggy detail on how the first time buyer will receive this tax cut. My initial impression is that mandating a "cc" engine size" would

tend to marginalize the people in the pickup market which accounts for the largest segment of the auto market by far. The small and independent business owners who would stand to benefit most from the program are left out. @v@

Edited September 13, 2011 by tpthai2

[wandrinstar]

Been done before, the Supplier sends you a Credit later on. Its for Car Buyers, not private motorist who drive 3 LitreComercial Vehicles as private transport...

[tpthai2]

Been done before, the Supplier sends you a Credit later on. Its for Car Buyers, not private motorist who drive 3 LitreComercial Vehicles as private transport...

This just in via the BKK Post:

"The vehicles must have an engine capacity of not more than 1,500cc or be double-cab pick-up trucks with an unlimited engine capacity but a price not exceeding one million baht per unit. The vehicles must be manufactured in Thailand.

Buyers must be 21 years of age or more and can seek a refund of the excise tax deduction up to one year after the purchase, but the refund must not exceed 100,000 baht. The tax refund payments will begin on Oct 1, 2012."

So ... it seems a double-cab is on the list. Question ... how does one determine the potential refund? Are exact excise taxes posted on the vehicle invoice?

[FarangBuddha]

Why are these incentives even necessary...aren't vehicle sales in Thailand at record levels...with production flat-out at all auto plants?

[wandrinstar]

Been done before, the Supplier sends you a Credit later on. Its for Car Buyers, not private motorist who drive 3 LitreComercial Vehicles as private transport...

This just in via the BKK Post:

"The vehicles must have an engine capacity of not more than 1,500cc or be double-cab pick-up trucks with an unlimited engine capacity but a price not exceeding one million baht per unit. The vehicles must be manufactured in Thailand.

Buyers must be 21 years of age or more and can seek a refund of the excise tax deduction up to one year after the purchase, but the refund must not exceed 100,000 baht. The tax refund payments will begin on Oct 1, 2012."

So ... it seems a double-cab is on the list. Question ... how does one determine the potential refund? Are exact excise taxes posted on the vehicle invoice?

When the Waffle dies down,they will be dripped mainly, for argument sake Honda / Toyo do all the work with finance over 5 Years for the Customer, Its so bloody simple, in reality.

[tpthai2]

Been done before, the Supplier sends you a Credit later on. Its for Car Buyers, not private motorist who drive 3 LitreComercial Vehicles as private transport...

This just in via the BKK Post:

"The vehicles must have an engine capacity of not more than 1,500cc or be double-cab pick-up trucks with an unlimited engine capacity but a price not exceeding one million baht per unit. The vehicles must be manufactured in Thailand.

Buyers must be 21 years of age or more and can seek a refund of the excise tax deduction up to one year after the purchase, but the refund must not exceed 100,000 baht. The tax refund payments will begin on Oct 1, 2012."

So ... it seems a double-cab is on the list. Question ... how does one determine the potential refund? Are exact excise taxes posted on the vehicle invoice?

When the Waffle dies down,they will be dripped mainly, for argument sake Honda / Toyo do all the work with finance over 5 Years for the Customer, Its so bloody simple, in reality.

Following up on my own post. More details via The Nation this early morning:

"The Cabinet has approved the Finance Ministry's proposed first-car buyer scheme, which is expected to help boost auto sales by as many as 500,000 vehicles in 2012, while as much as Bt30 million is expected to be returned to buyers in tax rebates.

The rebates will represent the return of that part of the purchase price that is made up of excise taxes.

Industry Minister Wannarat Charnnukul said yesterday that the scheme would give tax rebates of up to Bt100,000 to first-time auto buyers from September 16 to December 31, 2012.

The Excise Department will begin issuing the rebates of up to Bt100,000 for each first-car owner after he or she has owned the car for one year. The tax rebate will be a one-off payment made in a lump sum by cheque from the department.

While first-time car buyers will get the tax refund, they will be bound to hold on to their cars for five years, said Deputy Finance Minister Boonsong Teriyaphirom.

Eligible vehicles include passenger cars with an engine capacity of no more than 1,500cc (including eco-cars) and pickups (including double-cab pickups) priced at not more than Bt1 million. Previously, the scheme covered only eco-cars and pickups.

The vehicles must be locally assembled - excluding those that are assembled from used imported parts - and the minimum age for buyers is 21.

To prevent profiteering, the vehicle has to remain in the possession of the first buyer for five years.

After the first year, the Excise Department or its local office will cross-check with the Land Transport Department or its provincial office, inspect the first-car ownership status and inform about the buyer's waiver of ownership-transfer rights for five years. The details will be inspected and recorded in the Land Transport Department's computer system and in the registration booklet.

The first-car buyer booklet and the copy of the registration with its five-year waiver of ownership-transfer rights will then be sent to the Excise Department or its local office, which will pay the rebate via bank cheques starting from October 1 next year.

"The tax rebate is expected to cost [the government] about Bt150 billion, assuming that 500,000 people will buy first cars," Boonsong said. Carmakers and financial institutions will meet with Excise Department officials today to discuss details of the package, he said.

The first-car tax rebate scheme was one of the Pheu Thai Party's populist policies aimed at luring voters in the recent election."

[kartman]

If i wanted a new vehicle the never car owning 70 year old mother in law would be on crash driving course from 9am today,but i'm sure she will not be the only one , and all those current March/Brio owners seeing their model hitting the roads with a whopping 60,000 baht discount i think they may feel a little .

[wandrinstar]

Been done before, the Supplier sends you a Credit later on. Its for Car Buyers, not private motorist who drive 3 LitreComercial Vehicles as private transport...

This just in via the BKK Post:

"The vehicles must have an engine capacity of not more than 1,500cc or be double-cab pick-up trucks with an unlimited engine capacity but a price not exceeding one million baht per unit. The vehicles must be manufactured in Thailand.

Buyers must be 21 years of age or more and can seek a refund of the excise tax deduction up to one year after the purchase, but the refund must not exceed 100,000 baht. The tax refund payments will begin on Oct 1, 2012."

So ... it seems a double-cab is on the list. Question ... how does one determine the potential refund? Are exact excise taxes posted on the vehicle invoice?

When the Waffle dies down,they will be dripped mainly, for argument sake Honda / Toyo do all the work with finance over 5 Years for the Customer, Its so bloody simple, in reality.

Following up on my own post. More details via The Nation this early morning:

"The Cabinet has approved the Finance Ministry's proposed first-car buyer scheme, which is expected to help boost auto sales by as many as 500,000 vehicles in 2012, while as much as Bt30 million is expected to be returned to buyers in tax rebates.

The rebates will represent the return of that part of the purchase price that is made up of excise taxes.

Industry Minister Wannarat Charnnukul said yesterday that the scheme would give tax rebates of up to Bt100,000 to first-time auto buyers from September 16 to December 31, 2012.

The Excise Department will begin issuing the rebates of up to Bt100,000 for each first-car owner after he or she has owned the car for one year. The tax rebate will be a one-off payment made in a lump sum by cheque from the department.

While first-time car buyers will get the tax refund, they will be bound to hold on to their cars for five years, said Deputy Finance Minister Boonsong Teriyaphirom.

Eligible vehicles include passenger cars with an engine capacity of no more than 1,500cc (including eco-cars) and pickups (including double-cab pickups) priced at not more than Bt1 million. Previously, the scheme covered only eco-cars and pickups.

The vehicles must be locally assembled - excluding those that are assembled from used imported parts - and the minimum age for buyers is 21.

To prevent profiteering, the vehicle has to remain in the possession of the first buyer for five years.

After the first year, the Excise Department or its local office will cross-check with the Land Transport Department or its provincial office, inspect the first-car ownership status and inform about the buyer's waiver of ownership-transfer rights for five years. The details will be inspected and recorded in the Land Transport Department's computer system and in the registration booklet.

The first-car buyer booklet and the copy of the registration with its five-year waiver of ownership-transfer rights will then be sent to the Excise Department or its local office, which will pay the rebate via bank cheques starting from October 1 next year.

"The tax rebate is expected to cost [the government] about Bt150 billion, assuming that 500,000 people will buy first cars," Boonsong said. Carmakers and financial institutions will meet with Excise Department officials today to discuss details of the package, he said.

The first-car tax rebate scheme was one of the Pheu Thai Party's populist policies aimed at luring voters in the recent election."

You have to laugh. Luring Voters.?? Puke Thai Party Voters cant afford a moped, it helps the Middle, and Working Class Folk.. Send Cheque to the Owner. ?.. Thats the Guy with the Blue Book.

[culicine]

So how long does the land transport department keep records of previous car ownership, after the owner ceased to own a car? The wife owner our last car but ceased owing it 8 years ago. I own our current car.....justr wondering if we can record her as a "first car owner" ..don't wanna use the sister in law for it

[kartman]

Some Land Transport Dept apparently don't have complete records before 2006 so it will depend where you live or who you know that can delete/bin the information .(could be a nice earner)

[skybluestu]

As it say's 'up to 100,000baht' with the maximum purchase price of 1,000,000 baht I guess the rebate would be 10% of the purchase price? ie 85,000 rebate on a 850,000 car, 70,000 rebate on a 700,000 car

[katabeachbum]

As it say's 'up to 100,000baht' with the maximum purchase price of 1,000,000 baht I guess the rebate would be 10% of the purchase price? ie 85,000 rebate on a 850,000 car, 70,000 rebate on a 700,000 car

a 3 seater, 2 door or 2pluss2 door green on white plate pickup at 1 million baht, excicetax is max 30.000 baht, actually not even that

a 4 door at 1 million approx 100.000 baht

a 700k jazz E20 compatible, approx 140k baht

and fiesta excluded as its 1600cc

and guessing Ford just decided the price of Ranger 3,2 top spec at 999k baht

[wandrinstar]

How many trucks fit the CC Rule i wonder. Mainly Benzine i guess.?. To Qualify for Green Plates it think the L.T. Chap should visit youre Cabbage Patch and Market Stall.

[up-country_sinclair]

I'd appreciate some advice on whether or not this is something I should look into.

I currently own a 2006 Honda Jazz i DSI(automatic, dual air bags, anti-lock disc brakes) with 48,000 kilometers on it. It's in very good condition and I haven't had any mechanical problems with it at all. However, I'm thinking that problems might start showing up around 75-100K.

I could be wrong about this, but I think I could sell my current car for approximately 400,000 Baht, buy a 2012 Jazz in my wife's name for 650,000 Baht, and then get the rebate of 100,000 Baht, which would give us a brand new car for 150,000 Baht.

Does this seem like a good idea? Are the numbers above realistic? I'm really out of my depth when the topic is cars, so I would appreciate any information, suggestions or advice.

Thanks.

Edited September 14, 2011 by up-country_sinclair

[katabeachbum]

How many trucks fit the CC Rule i wonder. Mainly Benzine i guess.?. To Qualify for Green Plates it think the L.T. Chap should visit youre Cabbage Patch and Market Stall.

1500cc max for cars only, initially it was eco cars only (max 1200cc, min 20km/l, max 120 co2), March and Brio only in TH, so that would have excluded toyo, and toyo is very well connected

pickups max 3250cc

[uwe_rayong]

Used car tents owner must be steaming

Now the one year old Yaris with 60000km on it will be difficult to sale with just a 40000 THB price difference against a new car.

Wandrinstar, I think the engine size doesn't matter for pickup trucks, only for sedan.

[katabeachbum]

I'd appreciate some advice on whether or not this is something I should look into.

I currently own a 2006 Honda Jazz i DSI(automatic, dual air bags, anti-lock disc brakes) with 48,000 kilometers on it. It's in very good condition and I haven't had any mechanical problems with it at all. However, I'm thinking that problems might start showing up around 75-100K.

I could be wrong about this, but I think I could sell my current car for approximately 400,000 Baht, buy a 2012 Jazz in my wife's name for 650,000 Baht, and then get the rebate of 100,000 Baht, which would give us a brand new car for 150,000 Baht.

Does this seem like a good idea? Are the numbers above realistic? I'm really out of my depth when the topic is cars, so I would appreciate any information, suggestions or advice.

Thanks.

sounds about right

except personally I wouldnt pay 400k for a 5 year old 88hp Jazz, when brand new 90hp Brio costs same

[katabeachbum]

Used car tents owner must be steaming

Now the one year old Yaris with 60000km on it will be difficult to sale with just a 40000 THB price difference against a new car.

Wandrinstar, I think the engine size doesn't matter for pickup trucks, only for sedan.

had the same thing in late 2007, when reduced excicetax for E20 compatible cars was introduced. Bought my 2007 Camry late 2006 at 1,5, sold it late 2007 at 1,35 and 2 weeks later price dropped to 1,4 for same car new, E20 compatible

[up-country_sinclair]

I'd appreciate some advice on whether or not this is something I should look into.

I currently own a 2006 Honda Jazz i DSI(automatic, dual air bags, anti-lock disc brakes) with 48,000 kilometers on it. It's in very good condition and I haven't had any mechanical problems with it at all. However, I'm thinking that problems might start showing up around 75-100K.

I could be wrong about this, but I think I could sell my current car for approximately 400,000 Baht, buy a 2012 Jazz in my wife's name for 650,000 Baht, and then get the rebate of 100,000 Baht, which would give us a brand new car for 150,000 Baht.

Does this seem like a good idea? Are the numbers above realistic? I'm really out of my depth when the topic is cars, so I would appreciate any information, suggestions or advice.

Thanks.

sounds about right

except personally I wouldnt pay 400k for a 5 year old 88hp Jazz, when brand new 90hp Brio costs same

Thanks for your reply. It's an interesting point you make about the Brio. By how much do you think I'm overestimating the resale value of the Jazz? I came up with the figure by checking a few Thai used car websites and subtracting 12% for markup.

[katabeachbum]

I'd appreciate some advice on whether or not this is something I should look into.

I currently own a 2006 Honda Jazz i DSI(automatic, dual air bags, anti-lock disc brakes) with 48,000 kilometers on it. It's in very good condition and I haven't had any mechanical problems with it at all. However, I'm thinking that problems might start showing up around 75-100K.

I could be wrong about this, but I think I could sell my current car for approximately 400,000 Baht, buy a 2012 Jazz in my wife's name for 650,000 Baht, and then get the rebate of 100,000 Baht, which would give us a brand new car for 150,000 Baht.

Does this seem like a good idea? Are the numbers above realistic? I'm really out of my depth when the topic is cars, so I would appreciate any information, suggestions or advice.

Thanks.

sounds about right

except personally I wouldnt pay 400k for a 5 year old 88hp Jazz, when brand new 90hp Brio costs same

Thanks for your reply. It's an interesting point you make about the Brio. By how much do you think I'm overestimating the resale value of the Jazz? I came up with the figure by checking a few Thai used car websites and subtracting 12% for markup.

I would assume its a quick sale at 399k for 2 more days, until people realize the excicetax campaign starting in 2 days, making a jazz auto cost 530k and Brio auto cost approx 440k baht, for first time buyers

[wandrinstar]

The 5 Year Rule will cause problems. Elephant sat on my Jazz,on the last day of Full Cover.. I Qualify, ive only had Leasers here, so i can squezee in with a Fully Loaded City, or Misu GT.

[katabeachbum]

The 5 Year Rule will cause problems. Elephant sat on my Jazz,on the last day of Full Cover.. I Qualify, ive only had Leasers here, so i can squezee in with a Fully Loaded City, or Misu GT.

Hope they have thought through how to handle 48 terms finance and 5 years non transfer ownership. Or perhaps they have decided in co op with financecompanies to do money making 5 years finances only?

Wonder if farang will qualify? havent owned any car on my present passportnumber

so one Ranger with 100k baht refund in my name, and one city in gf name with 100k baht refund

[thaicbr]

is the fiesta made here in Thailand?

[katabeachbum]

is the fiesta made here in Thailand?

yep

5 door hatch and 4 door saloon, 1,4 and 1,6dsg auto

[thaicbr]

so the 1.4 is eligible

[billd766]

From what I can gather from the 2 EL papers and this thread is this.

You actually pay the full price for the car and the refund is given AFTER you have owned it for 1 year.

When that is done you CANNOT dispose of the car for another 4 years WITHOUT repaying the refund.

So if after 1 year and 1 month you get the refund and then you cannot pay for the car you have to repay the refund and still have to either sell the car or hand it back.

Either way you lose unless you can afford to pay for the car completely.

Only if you can do that is it going to be worth it.

It strikes me that the PTP have a way of promising you everything but actually delivering very little.

Weasel words, and probably just a campaign statement, not a real word of honour, cut my throat and hope to die promise.

[Tywais]

Green lighted - Thaivisa News Clippings

[MoonRiverOasis]

Used car tents owner must be steaming

Now the one year old Yaris with 60000km on it will be difficult to sale with just a 40000 THB price difference against a new car.

Wandrinstar, I think the engine size doesn't matter for pickup trucks, only for sedan.

Yep, this is going to destroy the value of used B segment cars in Thailand, in one fell swoop.

If you're trying to sell a Vios, Yaris, City, Jazz, Mazda2, or double-cab pickup, get a hurry-on before it loses 50K+ of value...

Owners of 2-door pickups need not be alarmed though - they only have a paltry 3% excise tax anyway, so the rebate value on them equates to practically nothing.

[Shipwreck]

It might also add months to the long wait times already quoted to prospective Jazz/March/etc buyers.

[aussiebebe]

I'd appreciate some advice on whether or not this is something I should look into.

I currently own a 2006 Honda Jazz i DSI(automatic, dual air bags, anti-lock disc brakes) with 48,000 kilometers on it. It's in very good condition and I haven't had any mechanical problems with it at all. However, I'm thinking that problems might start showing up around 75-100K.

I could be wrong about this, but I think I could sell my current car for approximately 400,000 Baht, buy a 2012 Jazz in my wife's name for 650,000 Baht, and then get the rebate of 100,000 Baht, which would give us a brand new car for 150,000 Baht.

Does this seem like a good idea? Are the numbers above realistic? I'm really out of my depth when the topic is cars, so I would appreciate any information, suggestions or advice.

Thanks.

sounds about right

except personally I wouldnt pay 400k for a 5 year old 88hp Jazz, when brand new 90hp Brio costs same

Thanks for your reply. It's an interesting point you make about the Brio. By how much do you think I'm overestimating the resale value of the Jazz? I came up with the figure by checking a few Thai used car websites and subtracting 12% for markup.

It's worth getting a valuation from the Red Book website - only 100 baht and they email you almost instantly.