Not An Ad But Is It Difficult To Sell A Car In Phuket Now?

[petercallen]

No problem selling cars here, my mate sold his car within 2 days!!

I sold a car when the rebate was available and was very happy with the price i got for it

And the first person to look at the car bought it

Were they Thai, or foreigner?

Last response to any of your posts, The purchaser was Thai and paid cash

Farangs cannot get finance easily here, if you want to purchase a vehicle in your name you will probably need cash

If you want to debate with me turn up at the next social function, i would love you to do that

[stevenl]

No problem selling cars here, my mate sold his car within 2 days!!

I sold a car when the rebate was available and was very happy with the price i got for it

And the first person to look at the car bought it

Were they Thai, or foreigner?

Farangs cannot get finance easily here, if you want to purchase a vehicle in your name you will probably need cash

Not true, foreigners can get finance without any problems.

[NamKangMan]

No problem selling cars here, my mate sold his car within 2 days!!

I sold a car when the rebate was available and was very happy with the price i got for it

And the first person to look at the car bought it

Were they Thai, or foreigner?

Last response to any of your posts, The purchaser was Thai and paid cash

Farangs cannot get finance easily here, if you want to purchase a vehicle in your name you will probably need cash

If you want to debate with me turn up at the next social function, i would love you to do that

That's a little strange. Why wouldn't the Thai put that cash into a new vehicle with the rebate, as you suggested?

We don't debate Peter. You just make a statement and are not open to considering any other view. Hardly what I would call a debate.

I don't need finance to buy a car. I have the cash, I just chose not to own one. I asked pagalim some questions because I would like to know a little about finance, from the Thai side. I wouldn't even know what the interest rate is for a car loan in Thailand.

As for meeting at the next TV function, you might find I'm actually a nice guy.

[LivinginKata]

Time for you all to calm down and not make the personal comments. The topic is about ease of selling a second hand car. No doubt the rebate issue is in play here, but not the personal comments.

[Valentine]

Is there any way to stop people selling their cars once the rebate is paid? If not then I suggest that many will take the rebate, get cash for their car & turn it into another new car as Thais in general seem to prefer new cars or homes. Given this scenario the used car market will become even more saturated.

[LivinginKata]

Is there any way to stop people selling their cars once the rebate is paid? If not then I suggest that many will take the rebate, get cash for their car & turn it into another new car as Thais in general seem to prefer new cars or homes. Given this scenario the used car market will become even more saturated.

As I understand the rebate scheme, buyer must apply for the rebate after they buy the car and wait at least a year, some say 2 years before they receive the rebate cheque. Question - how long must they keep the vehicle in their name ?

[stevenl]

Is there any way to stop people selling their cars once the rebate is paid? If not then I suggest that many will take the rebate, get cash for their car & turn it into another new car as Thais in general seem to prefer new cars or homes. Given this scenario the used car market will become even more saturated.

As I understand the rebate scheme, buyer must apply for the rebate after they buy the car and wait at least a year, some say 2 years before they receive the rebate cheque. Question - how long must they keep the vehicle in their name ?

Rebate is paid after one year. In the blue book is a notation made, making it impossible to sell the car within five years.

At the moment it seems very unclear what happens if the owner defaults after having received the rebate but before the five year period is over.

Edited March 5, 2013 by stevenl

[petercallen]

Is there any way to stop people selling their cars once the rebate is paid? If not then I suggest that many will take the rebate, get cash for their car & turn it into another new car as Thais in general seem to prefer new cars or homes. Given this scenario the used car market will become even more saturated.

As I understand the rebate scheme, buyer must apply for the rebate after they buy the car and wait at least a year, some say 2 years before they receive the rebate cheque. Question - how long must they keep the vehicle in their name ?

Rebate is paid after one year. In the blue book is a notation made, making it impossible to sell the car within five years.

At the moment it seems very unclear what happens if the owner defaults after having received the rebate but before the five year period is over.

Correct if you sell the car before owning it 5 years the rebate has to be returned to the government

Although i am sure some people will find a way around that if they really want to like not transferring

it until the 5 year period is up

[Valentine]

Is there any way to stop people selling their cars once the rebate is paid? If not then I suggest that many will take the rebate, get cash for their car & turn it into another new car as Thais in general seem to prefer new cars or homes. Given this scenario the used car market will become even more saturated.

As I understand the rebate scheme, buyer must apply for the rebate after they buy the car and wait at least a year, some say 2 years before they receive the rebate cheque. Question - how long must they keep the vehicle in their name ?

Rebate is paid after one year. In the blue book is a notation made, making it impossible to sell the car within five years.

At the moment it seems very unclear what happens if the owner defaults after having received the rebate but before the five year period is over.

Correct if you sell the car before owning it 5 years the rebate has to be returned to the government

Although i am sure some people will find a way around that if they really want to like not transferring

it until the 5 year period is up

It will be interesting to see if the rebate is actually paid on time as the government is already struggling to foot the bills for the rice scheme.

Out of curiosity I asked at Sure Motors how much they would give me for my car & it was exactly the same as what the Toyota salesman said. For example how much profit do you think the 2nd hand car dealers add to their purchase price?

[stevenl]

It will be interesting to see if the rebate is actually paid on time as the government is already struggling to foot the bills for the rice scheme.

So far it has been paid on time.

[NamKangMan]

I'm sure the current owners, for rebate purposes, will strike up an "agreement" for some cash now, and the name transfer in 5 years time, maybe even money every month, a little like a hire purchase agreement or similar to a "rent now buy later" agreement. I'm not sure where an insurance company would stand on the idea, but legally, you haven't really sold the vehicle, as yet, but have handed full use of the vehicle to another person. I see no reason why a farang couldn't also enter into this agreement/contract.

Some of these vehicles are already being commercially used as registered black taxis, so, I gather renting them out, with the renter owning it in 4 years time, would be fine as well.

In relation to the OP, if a Thai, or farang, who already owned a car, "upgraded" to one of these newly purchased tax free cars, through such an agreement, then they would be putting their old car on the market, and then market forces of supply and demand kick in as there would be an oversupply of secondhand cars on the market, so prices will go down.

stevenl makes a good point. Surely a bank repossession is outside of the 5 year transfer of ownership law, otherwise, Phuket could see new vehicles just parked on the side of the road, rusting away, as the owners can't afford the repayments, can't afford to run the vehicle and are not able to sell the vehicle, and the bank is unable to reposess the vehicle.

I have stated before, and this is just my opinion, I think the tax free rebate was offered to kick start the car manufacturing plants after the big flood, especially since the car manufactures were not happy with the way the crisis was managed, which saw their factories flooded, for a lengthy period of time, and were thinking of moving their operations to another country.

Edited March 6, 2013 by NamKangMan

[petercallen]

New car dealerships have used car dealer ships they deal with regularly and they check the current value with them

Values are definitely down at present because they are overstocked, when this happens they will only buy new

stock if they can get it for a very cheap price, generally speaking car dealers new or used borrow money from

credit providers who they use for time payments for there customers, its called floor plan in Australia and the

interest they pay on this borrowed money depends on the amount of business they put through the financial institute involved