Buying An Almera. Seems Very Cheap.... Too Cheap.

[Almera]

Stopped at a few cars inside a Big C in Bangkok. Nissan Smart and a pick-up truck.

Picked up the brochure and the Almera seems very cheap. I think we're going to buy one.

I pay 25,000 down.

The wife will pay the (just under) 4,300b monthly for 7 years.

Total: 386,200.

Even the Nissan website has it listed as 429,000b.

nissan.co.th/en/showroom/models/Almera.aspx

Wife rang them and they said they have the six colors, all free to pick up (no waiting),

They just need to pop by and see her business as she's self employed making around 35k p/m, and a co-signer who is making at least 10k p/m.

Sounds a little bit suss to me.

Why so cheap (and easy)?

Also, she's paying the monthly so I'm paying all the rest, annual insurance, tax, service and fuel.

The package includes one year free 1st class insurance through Nissan, but after that does anybody know how much 1st class insurance and a service every 10k km would cost? And annual tax on a 1.2L car?

PS. This really is just a cheap n cheerful car to potter around with the wife and young baby, doubt it ever go over 100kph, my motorbike is for my daily commute, going fast and having fun. I'll be maxing this out to get the 20kpl I read about it can get.

So a first time car buyer here in Thailand can someone explain how they can sell it so cheaply without there being some scam or catch?

And estimated cost of annual 1st class insurance, tax, and service on such a model?

Thanks.

Edited March 12, 2013 by Almera

[rucus7]

That is the same size motor I had on my Harley- Davidson Sportster. The inline 3 cylinder 1.2 liter engine will probably not last as long as your seven year contract for payment.

[traveldog]

That sounds a bit off to me too. I think you had better find out if you are "leasing" instead of buying. That

is also a very small down for a new car? But if all true you did well!

[anon210]

With 25 K down, and seven years at 4.3 K, I think you are into a leasing program rather than a real finance program. I guess there is a further 50-80 K coming up as lump sum payment to own the car.

The other possibility is that they mentioned the first car buyer program (where there is 60 to 84 K of rebate on excise). As you are buying only now, I guess you do not qualify.

For a car buyer, you are not very curious even about exploring the Nissan website you mentioned. They had a section on maintenance costs...http://www.nissan.co.th/en/Aftersales/Maintenance-costs/Almera.aspx

Others may advise you about the cost of insurance.

[Almera]

That is the same size motor I had on my Harley- Davidson Sportster. The inline 3 cylinder 1.2 liter engine will probably not last as long as your seven year contract for payment.

Yes, I'm well aware of such things.

Such comments are unneeded and only serve to boost your self esteem. May I suggest heading to a girlybar.

That sounds a bit off to me too. I think you had better find out if you are "leasing" instead of buying. That

is also a very small down for a new car? But if all true you did well!

That is something to check. Thanks.

[meatboy]

small engine for a big car that would be a concern,i think the price they have quoted you could have been the price after the tax refund,

is that still available.

[Almera]

Quote

small engine for a big car that would be a concern

I'm well aware of the car, what it is, and it's purpose (a very cheap run around for me, wife and baby that will likely never see over 100kph or used on anything than flat road) and not looking for any comments on it. Thanks for your time.

I'm asking about the cost and info. I will have to check whether it is minus the tax refund or leasing with a final payment.

thanks for the link re: service costing. It is very cheap.

Edited March 12, 2013 by Almera

[taotoo]

small engine for a big car that would be a concern,i think the price they have quoted you could have been the price after the tax refund,

is that still available.

It weighs less than 1,000kg. The engine should be fine for the OP's intended use.

[Almera]

By the way, what is the exact difference between leasing and financing?

I presume leasing is that:

You don't own the car until final payment is made.

Finance:

You own the car while you are paying for it. (like getting a bank loan to pay for it).

Does leasing always have a lump sum payment at the end?

http://www.nissan.co.th/en/Finance/Leasing.aspx

Auto Leasing

Nissan Leasing proudly presents Auto Leasing: covering all optional equipment, a special fixed interest rate and a variety of down-payment
and instalment periods; responding to all your needs and giving you the right to own the Nissan car at the end of the lease contract.

[Almera]

BTW, you can see the promo here on the Nissan site:

29,999 down.

Nissan Easy Pay: 4,222 p/m.

http://www.nissan.co.th/en/Finance/~/media/Files/Nissan/Asia%20Pacific/Thailand/NLTH%20price%20list/NLTH%20Pricelist%20Feb%202013.pdf

I can't understand the Thai and it seems odd to offer it just above where they have payment plans that make it much more expensive.

Me no understandy.

[IMHO]

Nissan's Easy Pay is indeed a lease (as opposed to the more popular hire-purchase) and has a balloon payment due at the end.

I'm not sure on the specifics of the deal you've been offered, but I do know the balloon payments on EasyPay can be up to 50% and that interest is charged at full MLR rates, so in the 7.xx% PA range (more than double hire-purchase interest rates).

Ask for more details - it could be a whole lot worse deal than you're imagining.

[prestburypark]

You do not own the car when getting finance, the finance company owns it until you make your final payment. The blue book will then be made over to your/your wife's name.

Leasing is a contract to hire for a set period, based on an annual mileage limitation. Sometimes you have an option to buy at the end of the lease which is worked out by the company based on the cars residual value. It is often better to just go lease a new car again if you are happy making monthly payments.

Servicing included in the lease usually ups the monthly fee. Insurance is generally your problem, but of course there are always deals and offers so no set rules for that.

7 years seems a hell of a long time for a lease car as it would be hard to predict residuals for that far in advance . Maybe they know better here.

Check all the details carefully, take advise and if you are happy, you have what looks like a bargain.

[rucus7]

That is the same size motor I had on my Harley- Davidson Sportster. The inline 3 cylinder 1.2 liter engine will probably not last as long as your seven year contract for payment.

Yes, I'm well aware of such things.

Such comments are unneeded and only serve to boost your self esteem. May I suggest heading to a girlybar.

>That sounds a bit off to me too. I think you had better find out if you are "leasing" instead of buying. That

is also a very small down for a new car? But if all true you did well!

That is something to check. Thanks.

If you are aware that inline 3 cylinder motors have a short life expectancy, and you also know you are buying a car with built in obsolesce. Why bother? The reason I referenced my motorcycle, was for perspective. I feel that a 1.2 liter automobile in dangerously underpowered as a family car.

[BSJ]

That is the same size motor I had on my Harley- Davidson Sportster. The inline 3 cylinder 1.2 liter engine will probably not last as long as your seven year contract for payment.

Yes, I'm well aware of such things.

Such comments are unneeded and only serve to boost your self esteem. May I suggest heading to a girlybar.

>That sounds a bit off to me too. I think you had better find out if you are "leasing" instead of buying. That

is also a very small down for a new car? But if all true you did well!

That is something to check. Thanks.

If you are aware that inline 3 cylinder motors have a short life expectancy, and you also know you are buying a car with built in obsolesce. Why bother? The reason I referenced my motorcycle, was for perspective. I feel that a 1.2 liter automobile in dangerously underpowered as a family car.

I agree that the 1.2L engine is a terrible choice for a car that maybe used for everything, but if your in Bangkok, never go on the motorway, don't drive to far it would be OK. The main thing you should ask is: will the air con work without fault in traffic jams?

[arthurwait]

My mums corsa is 11 years old now. 1.2 lt 3 cylinder engine. Never had an engine problem in all that time and that's a vauxhall not a Nissan which are meant to be far more reliable.

Don't worry mate not everyone has to buy a slow Essex tractor as a subsitute for other things.

Edited March 12, 2013 by arthurwait

[culicine]

Any car is dangerous in the wrong hands, whether it's a 79 HP almera or a 600HP lamborghini.

Comparing my 2.0 civic and new swift, I don't sense any difference in handling/stability up to 100 km/h. The lighter swift seems to pull up very well and has plenty of acceleration when you want it. Just drive within the limits of the vehicle and you will be fine.

[arthurwait]

So with secondhand values of cars in Thailand and a final payment based on that leasing in this country wouldn't be good ?

[Almera]

Nissan's Easy Pay is indeed a lease (as opposed to the more popular hire-purchase) and has a balloon payment due at the end.

I'm not sure on the specifics of the deal you've been offered, but I do know the balloon payments on EasyPay can be up to 50% and that interest is charged at full MLR rates, so in the 7.xx% PA range (more than double hire-purchase interest rates).

Ask for more details - it could be a whole lot worse deal than you're imagining.

haha, yes, this is the catch.

Reading up on it last night it seems that you pay the 30k down, 4,222 a month.....

Then something happens, either after 4 years you have the choice of the monthly payments doubling to 8,444 a month, or you pay a lump sum of 2xx,xxx baht to own the car.

She's phoning them today anyway to get the full details, but it's safe to say that we won't be going for that payment option.

[HalfSquat]

Is that deal open to Thais only?

[Almera]

^ Contact your nearest Nissan dealer to find out.

Edited March 13, 2013 by Almera

[IMHO]

Is that deal open to Thais only?

The sub-30K downpayment might be difficult to get without a Thai name as the buyer or guarantor but no reason why the blood-suckers wouldn't want to take you on the EasyPay plan with a more normal deposit..

[Almera]

So with secondhand values of cars in Thailand and a final payment based on that leasing in this country wouldn't be good ?

As long as one is fully aware of what the deal actually is, and is happy with it then sure.

Even the second set of communications with them they were very unclear and not really willing to give the specific facts of the deal, passing off each question with that 'it's a very good deal' and payments are 'up to you'. Before finally admitting under hard questioning that one does indeed not own the car after the seven years of payments.

Personally we wouldn't be happy with paying 380k for a 429k car and not actually owning it in anyway when finished paying for it. Unless you then buy it at the used car value of it in cash, probably 200k+.

[anon210]

So with secondhand values of cars in Thailand and a final payment based on that leasing in this country wouldn't be good ?

As long as one is fully aware of what the deal actually is, and is happy with it then sure.

Even the second set of communications with them they were very unclear and not really willing to give the specific facts of the deal, passing off each question with that 'it's a very good deal' and payments are 'up to you'. Before finally admitting under hard questioning that one does indeed not own the car after the seven years of payments.

Personally we wouldn't be happy with paying 380k for a 429k car and not actually owning it in anyway when finished paying for it. Unless you then buy it at the used car value of it in cash, probably 200k+.

That still makes you buy a car worth 429 K for 580 K... Not sure how good a deal it could be.

[Almera]

That's if they declare the value of it at 200k....

Also one needs to consider that if one needs to go for a deal like this compared to a straight 85k down and 5,xxx p/m to actually own it at the end, they're probably not the people who will have 200k+ cash to buy it at the end.

Personally, the wife won't be doing it. If we go for this car she'll do the finance so she owns it at the end.

[stevenl]

That's if they declare the value of it at 200k....

Also one needs to consider that if one needs to go for a deal like this compared to a straight 85k down and 5,xxx p/m to actually own it at the end, they're probably not the people who will have 200k+ cash to buy it at the end.

Personally, the wife won't be doing it. If we go for this car she'll do the finance so she owns it at the end.

IMO a very wise decision.

[VocalNeal]

I agree that the 1.2L engine is a terrible choice for a car that maybe used for everything, but if your in Bangkok, never go on the motorway, don't drive to far it would be OK. The main thing you should ask is: will the air con work without fault in traffic jams?

I believe it has +/-90 hp which is enough for most things except an inflated ego. I have driven 69 hp 1000 cc cars in Brazil and they were more than enough for going to work, shoppingand driving around on the week end. Sure you have to drive them but therein lies the fun.

[MESmith]

I agree that the 1.2L engine is a terrible choice for a car that maybe used for everything, but if your in Bangkok, never go on the motorway, don't drive to far it would be OK. The main thing you should ask is: will the air con work without fault in traffic jams?

I believe it has +/-90 hp which is enough for most things except an inflated ego. I have driven 69 hp 1000 cc cars in Brazil and they were more than enough for going to work, shoppingand driving around on the week end. Sure you have to drive them but therein lies the fun.

Engine's probably fine. It's the POS ugly car built around it I'd be more concerned about

[culicine]

I agree that the 1.2L engine is a terrible choice for a car that maybe used for everything, but if your in Bangkok, never go on the motorway, don't drive to far it would be OK. The main thing you should ask is: will the air con work without fault in traffic jams?

I believe it has +/-90 hp which is enough for most things except an inflated ego. I have driven 69 hp 1000 cc cars in Brazil and they were more than enough for going to work, shoppingand driving around on the week end. Sure you have to drive them but therein lies the fun.

March/mirage are 79HP; brio 90HP, swift 91HP. The 90 HP is plenty for nipping about town. These cars are pretty light - 100KG or so less than a jazz.

[keemapoot]

I agree that the 1.2L engine is a terrible choice for a car that maybe used for everything, but if your in Bangkok, never go on the motorway, don't drive to far it would be OK. The main thing you should ask is: will the air con work without fault in traffic jams?

I believe it has +/-90 hp which is enough for most things except an inflated ego. I have driven 69 hp 1000 cc cars in Brazil and they were more than enough for going to work, shoppingand driving around on the week end. Sure you have to drive them but therein lies the fun.

Engine's probably fine. It's the POS ugly car built around it I'd be more concerned about

Agree in general with Nissan in Thailand (though not in the US for example) they are uniformly ugly. However, this Almera is absolutely spot on for the market it serves. I think it's a winner for its purpose.

[Almera]

Interesting follow up.

The wife has been in contact with the manager and gotten some clear answers.

Pricing is as follows:

Manual:

So 85k down and 5651p/m for 6 years it is.