My friend was telling me that the Govt plan to have another discount similar to the one they did before. Is there any truth to these rumours and any idea what the offer would be exactly?

I find it surprising as I did read an article that the Govt were still struggling to pay this and people were still waiting their payments.

Maybe they are going to offer all the repossessed ones on the lot in Bang Na?

I am surprised second hand cars have not come down in price ,so many reposesions.

Logic tells us there should be a lot of repossessions, but I am NOT seeing them, and believe me I am trying to buy one right now!

Not in Bangkok, and not up North either.

There are no reported plans for a repeat of the 1st car buyer scheme.

Logic tells us there should be a lot of repossessions, but I am NOT seeing them, and believe me I am trying to buy one right now!

Not in Bangkok, and not up North either.

Loan defaults on 1st car buyer scheme are indeed around double normal rates - but so far that means a default rate of 2.6% - hardly enough to flood the market,

The issue it's caused is finance companies are being a lot more strict on who they will give loans too as a double default rate is a big deal to them. They are also taking weeks to approve rather than days. The nock on effect of this is that 2nd hand dealers will pay much less for cars but sell them on for the same as they are sitting around on the forecourt for much longer.

There are no reported plans for a repeat of the 1st car buyer scheme.

Despite the Thai government's proclivity to follow up a stupid idea with an even more stupid idea, this time I don't think they will