Shipwreck Posted September 23, 2011 Share Posted September 23, 2011 (edited) Find a private buyer who is desperate for a sale - like a foreigner leaving the country. Use your Thai credit history/work history/salary to get a loan from a bank. I just bought a used Jazz from a desperate seller with a 100% bank loan at 3.75% interest. I got 100% by telling the bank I was paying 100k more than I really was - usually they will give you 80% or less. (They don't actually check what the exact financial exchange between buyer and seller is.) Said I was paying 400k (the book value of the car) actually paid 300k. Bank gave me 310K, so I actually had a bit extra after the fact. (I'm aware that the interest isn't actually 3.75% on the purchase price, but recalculated each year on the outstanding balance - I'll be paying it off early at a small discount anyway.) I knew the seller and knew the car was good. I could turn around and sell it right now for more than I paid for it, but I needed a car and it fits the bill. The terms are 3 years and the bank profits about 60k baht. I figured that is a decent deal considering there was no down payment. A slight down profit in fact. Thoughts? Edited September 23, 2011 by Shipwreck Link to comment Share on other sites More sharing options...
Shipwreck Posted September 23, 2011 Author Share Posted September 23, 2011 Pic Link to comment Share on other sites More sharing options...
thaicruze Posted September 24, 2011 Share Posted September 24, 2011 (edited) Pic Well. It's a Jazz alright. The wheels got to go. They didn't lower it did they? Edited September 24, 2011 by thaicruze Link to comment Share on other sites More sharing options...
DummDays Posted September 24, 2011 Share Posted September 24, 2011 (edited) Maybe you can give me an Advice, how to convince my Bank to give me a Loan? since 5 Years, I have more than 800.000 Baht on my Bangkok Bank for my Retirement Visa Needs I was thinking for a long Time, how I could use this Money as a Basement to use/buy something like a Car or Condo Cheers Edited September 24, 2011 by DummDays Link to comment Share on other sites More sharing options...
thaicruze Posted September 24, 2011 Share Posted September 24, 2011 ^ In my experience they are more interested on whether you're employed or not. I also have way over 800,000 baht in my account. They still wanted to see pay slips and my loan was only 375,000 baht. Link to comment Share on other sites More sharing options...
katabeachbum Posted September 24, 2011 Share Posted September 24, 2011 ^ In my experience they are more interested on whether you're employed or not. I also have way over 800,000 baht in my account. They still wanted to see pay slips and my loan was only 375,000 baht. Wow TH Cruze 277 posts and the first time I can support your info. Hurray Banks/finance want to see a cash flow for at least 6 months in your TH bank account. 800k baht frosen retirementvisa money is not considered. If cash flow is from work according to Workpermit it can be approx 3 times monthly payment. If its from other sources, 5 to 10 times monthly payments Link to comment Share on other sites More sharing options...
DummDays Posted September 24, 2011 Share Posted September 24, 2011 well, if it is just "cash flow" - nothing easier than this: just remove lets say the half of the amount you have on your bankaccount for retirement, put it on another bankaccount and make monthly transfers to your original account would that work out? Link to comment Share on other sites More sharing options...
muratremix Posted September 24, 2011 Share Posted September 24, 2011 So you bought a jazz for 300k Baht? What year? Manual or Automatic? Link to comment Share on other sites More sharing options...
Shipwreck Posted September 25, 2011 Author Share Posted September 25, 2011 Pic Well. It's a Jazz alright. The wheels got to go. They didn't lower it did they? Yes, wheels are the first on the list of things to be changed. Not lowered, but the rims are cheap fake alloy and the 'chrome' is chipping off. Link to comment Share on other sites More sharing options...
Shipwreck Posted September 25, 2011 Author Share Posted September 25, 2011 So you bought a jazz for 300k Baht? What year? Manual or Automatic? It is a 2004 automatic. IDSI model with 2 airbags. On one2car.com similar models are selling for about 400k. I feel the best deals to be had for buying second hand stuff is off of expats who need to leave in a hurry. This is also a great way to furnish a house and pick up gadgets for almost half off. Link to comment Share on other sites More sharing options...
muratremix Posted September 25, 2011 Share Posted September 25, 2011 Seems very good deal. I'm also interested in a newer 2nd hand automatic car like this. But I guess I'll have to buy brand new because I'm not stupid enough to pay new price for the 3 yr old 2nd hand car in this market. (Btw I'll purchase by cash). Link to comment Share on other sites More sharing options...
timekeeper Posted September 26, 2011 Share Posted September 26, 2011 Seems very good deal. I'm also interested in a newer 2nd hand automatic car like this. But I guess I'll have to buy brand new because I'm not stupid enough to pay new price for the 3 yr old 2nd hand car in this market. (Btw I'll purchase by cash). well bully for you,........ Link to comment Share on other sites More sharing options...
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