Used Car Price Value Pattaya?

[Awohalitsiktoli]

I am in the market for a used hatchback--Toyota or Honda. After searching the local car places for a "good deal," I have discovered something that most of you probably all ready know: the prices are too high. Prices seem to be at least US$5000 more than what one would pay for back in the USA for a similar used car. Is it right to compare the local asking price with the Kelly Blue Book value (which reflects prices in the USA). Basically, I just don't want to get ripped off. Not sure if you can mention it, but if you know of a local dealer who can be trusted, please let me know. Thanks.

[jimmybkk]

You're right - 2nd hand car prices here are crazy. Throw that blue book of yours out the window. It's Irrelevant here I'm afraid. And if you're planning on buying the car with finance keep mind that the finance offered by the used car dealers runs to around 12.5% p.a.

[sgunn65]

If you are looking for a car under 2-3 years old it probably makes sense to buy a new car on finance. The extra cost over 5 years on a Honda Brio at 508,000 was 40K ish. Since the resale value is high we aren't going to lose much and we have the peace of mind that comes with a new car. Also by buying in a Thai name we get 80K back next September.

[BlackPuddingBertha]

I agree that used car prices in Thailand are absurdly high. This, combined with the poor treatment and maintenance that vehicles may have received here, leads me to favour buying new.

I also agree that if determined to buy used the best option will be to look for some farang who is leaving, or trading up for new etc. There are quite a few around, though even with farangs it's not unheard of for them to be asking more for their used car than it would cost to buy a similar new one (complete with free insurance and long warranty etc.) Quite daft, really, though, as with condos, maybe it just indicates that they paid over the odds when they bought it new.

[Awohalitsiktoli]

Thanks for all of the productive responses/advice. I am going to see if there is a farang out there who wants to sell.

[guzzi850m2]

Try goggle one2 car, there you can see the used car prices in mostly BKK, used cars in BKK are slightly cheaper than pattaya

but it's a jungle out there (used car wise) so be extremly carefull.

I bought a 2nd hand Honda City at a used car dealer on Sukhumvit (Patts) and I took the car to the Honda dealer ship (with permision)

which made me beleave that the odometer hadn't been tampered with.

[monty]

Take your time, and take the emotion out of your buying!

Take a day trip to Rayong and have a look around there. The 2nd hand market is more aimed towards all the middle class Thai industry workers in the Maptaphut area!

[black fox]

it might be an idea to hang around toyota dealership and see if anybody comes into trade there car for a new one, maybe you can do a deal with the cars owner cos they (toyota) just ring a dealer and get a price and its generally pretty low.

[tropo]

I agree that used car prices in Thailand are absurdly high.

How can you say the prices for used cars is "absurdly high"? The market determines the prices. It's a good thing for Thai people that their cars maintain higher value.

Back at home (Australia for me) the used car market is huge compared to over here because every man and his dog wants a new car every year and they trade on finance and don't want to be caught with a car that has lost too much of its value. The sheer number of used cars available keeps the prices of the older ones very low.

Here people hold on to their cars longer.

[besth]

There seems to be more demand than supply and that keeps prices high, but it gets to a point where you may consider lowering your expectations (model of a certain car) and buy new.

[tropo]

The primary concern about buying used here is the Thai mentality toward servicing, i.e. don't waste money unless it is broken.

[BlackPuddingBertha]

How can you say the prices for used cars is "absurdly high"?

Simply because in many cases they approach (or even exceed, as I mentioned) the price of an identical new vehicle. This is nothing short of insanity, especially taking into account the government's tax rebate on new vehicles for first time buyers (which in itself is a daft idea in a country where one can wait months for a new car to be delivered).

It seems more sensible to me to offer discounts and tax incentives when sales are bad and waiting times are very short. When new cars are on long waiting lists they should be increasing the tax, not reducing it.

[jimmybkk]

I agree that used car prices in Thailand are absurdly high.

How can you say the prices for used cars is "absurdly high"? The market determines the prices. It's a good thing for Thai people that their cars maintain higher value.

Back at home (Australia for me) the used car market is huge compared to over here because every man and his dog wants a new car every year and they trade on finance and don't want to be caught with a car that has lost too much of its value. The sheer number of used cars available keeps the prices of the older ones very low.

Here people hold on to their cars longer.

Strange post....

Yes the market determines the price, but the market can also be manipulated. If you look outside of Thailand as a comparison (and where else can you look for a benchmark?), the prices here are very high. OK, "absurdly" is hard to quantify, but if a used car here is 5 x the price of the same used car in 80% of the rest of the world, would you at the very least accept it is something of an anomaly?

"It's a good thing for Thai people that their cars maintain higher value." It's a good thing for those that already own cars, but I'm not so sure it's a good thing for first time buyers. How much did your first car cost?

[Fgis]

Few weeks ago there was a good thread explaining why second hand cars are too expensive here.

I'm sure you can find it and understand.

[tropo]

I agree that used car prices in Thailand are absurdly high.

How can you say the prices for used cars is "absurdly high"? The market determines the prices. It's a good thing for Thai people that their cars maintain higher value.

Back at home (Australia for me) the used car market is huge compared to over here because every man and his dog wants a new car every year and they trade on finance and don't want to be caught with a car that has lost too much of its value. The sheer number of used cars available keeps the prices of the older ones very low.

Here people hold on to their cars longer.

Strange post....

Yes the market determines the price, but the market can also be manipulated. If you look outside of Thailand as a comparison (and where else can you look for a benchmark?), the prices here are very high. OK, "absurdly" is hard to quantify, but if a used car here is 5 x the price of the same used car in 80% of the rest of the world, would you at the very least accept it is something of an anomaly?

"It's a good thing for Thai people that their cars maintain higher value." It's a good thing for those that already own cars, but I'm not so sure it's a good thing for first time buyers. How much did your first car cost?

It is your reply which is strange and out of touch with reality.

A used car which sells is priced at exactly what it is worth in the market it is in. In any market there's room for bargaining. If the used car is overpriced it won't sell. All that means is that the owner is testing the market and not desperate for a sale - a smart way to sell anything. If it sells, then it was sold at the right price.

The price of the same cars overseas is totally irrelevant and not even worth discussing.

[bobo42]

I agree that used car prices in Thailand are absurdly high.

How can you say the prices for used cars is "absurdly high"? The market determines the prices. It's a good thing for Thai people that their cars maintain higher value.

Back at home (Australia for me) the used car market is huge compared to over here because every man and his dog wants a new car every year and they trade on finance and don't want to be caught with a car that has lost too much of its value. The sheer number of used cars available keeps the prices of the older ones very low.

Here people hold on to their cars longer.

Strange post....

Yes the market determines the price, but the market can also be manipulated. If you look outside of Thailand as a comparison (and where else can you look for a benchmark?), the prices here are very high. OK, "absurdly" is hard to quantify, but if a used car here is 5 x the price of the same used car in 80% of the rest of the world, would you at the very least accept it is something of an anomaly?

"It's a good thing for Thai people that their cars maintain higher value." It's a good thing for those that already own cars, but I'm not so sure it's a good thing for first time buyers. How much did your first car cost?

It is your reply which is strange and out of touch with reality.

A used car which sells is priced at exactly what it is worth in the market it is in. In any market there's room for bargaining. If the used car is overpriced it won't sell. All that means is that the owner is testing the market and not desperate for a sale - a smart way to sell anything. If it sells, then it was sold at the right price.

The price of the same cars overseas is totally irrelevant and not even worth discussing.

I agree with the poster BlackPuddingBertha, prices are absurdly high. No market for anything is perfect, there are always gaps between real and perceived value. In the case of used car markets here, I - as well as many others who've seen markets elsewhere - think that there is a huge gap between the real value of a used-car and the perceived value of it (both by buyers and sellers). Particularly when compared to the real-value of a new car, there appears to be very little to justify the high perceived value of used cars.

You could of course, put forth the argument that the price that it sells at is inherently the "correct" price, but I disagree. If that where always the case, there would be no market corrections and price fluctuations, just slow and steady markets. Take the case of the US real-estate bubble, would you posit that the "correct" price for a single-family home in an average neighbourhood was $600k+ a few years ago, when in fact today, the same home may be selling for <$300k? I would say that is a great example of a systemic gap between perceived value and actual value. I know the two cases are unrelated, but this is an example of what some of us think is happening in the used-car market here. My bet is that all of us who just bought new vehicles recently will not likely see the same type of resale prices when it comes time to sell in a few years.

[monty]

I'm living here 20 years now, and the price of 2nd hand cars in relation to new cars has always been the same, and there is a fair chance it'll remain the same for a long time to be.

End result is that it is expensive for first time car buyers, but once an owner, overall cost of ownership is extremely low.

[craigt3365]

Few weeks ago there was a good thread explaining why second hand cars are too expensive here.

I'm sure you can find it and understand.

Thanks for that, Fgis! Here's the topic:

http://www.thaivisa....s-so-expensive/

Since it is almost identical to this thread, It's in the Motoring forum, and has lots of good posts, let's close this topic. Hate to have duplicate topics running. OK?

Topic Closed