160,000 'First Car' cancellations

[kimamey]

We bought a new Honda April 2012, STILL waiting for 63,000thb rebate to be paid. EXCUSE after EXCUSE, visits to Sri Racha Office ..next month, next month... Has anyone here received their REBATE, & if YEs, how long did it take to process??

Thanks

My gf bought hers in June 2012 and she got the rebate but I can't remember if it was in June or the first week of July.

[kannot]

Let me see, 1.08 million new cars with new drivers that do not know road rules on thailands roads. What can go wrong with that?

Nothing just like the other 59 million

[stockholm1995]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

My wife and I, got 98000 back for the pickup, we purchased on the plan.

My girlfriend bought a nissan Dec 2011.I We didn´t know about the ′First Car′ tax reduction scheme. How to do to get the Tax reduction?

[kannot]

Bought a Honda Jazz year ago May and received our cheque last September earlier then expected.....direct deposit 100,000 baht....thank you very much!

I thought they were only giving back 10% of the price? if so what jazz costs 1000000? maybe I got the amounts wrong??

[kannot]

Another bad plan by the Shinawatre gov't - gone more rotten.

I would not call the plan neither rotten or bad... 1 million seems a pretty good number of new sales which otherwise would not bave been realized for the car industry in only one year...

Sent from my HTC One XL using Thaivisa Connect Thailand mobile app

Well stated & so true.

Most people choose to bash something,

anything rather than look at the merits.

There are huge numbers in new auto in my region,

and we all know how great that makes the locals feel,

when they can show off their new prized auto.

Thai's don't appear to have a sentiment to cherish their auto enough to keep them around for long durations.

About eight years appears to be the majority consensus on the life of an auto...

maximum.

yes all about face....which wont look so good when they get them repossessed or have to try and borrow from other sources to make payments etc

[beautifulthailand99]

Borrow borrow borrow.The Thai's have obviously not heeded the painful lessons in recent years of the west.The country will soon come down like a pack of cards,but in the meantime i can hear my Thai friends singing ''I owe,I owe it's off to work i go''.

I very much doubt it - the fundamentals of the Thai economy are strong - no welfare state, families prepared to live in virtually one room, hard bloody work and salaries that are peanuts compared to the west - that why compared to my currency , sterling the baht is bloody expensive. For all it faults - and there are many - foreign direct investment will continue to come in especially so as the Japanese are not so welcome anymore in a growing and militant nationalist China whereas Thailand is their corporate playground.

[Valentine]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

My wife and I, got 98000 back for the pickup, we purchased on the plan.

My girlfriend bought a nissan Dec 2011.I We didn´t know about the ′First Car′ tax reduction scheme. How to do to get the Tax reduction?

Sorry, you do not qualify.

[Valentine]

Bought a Honda Jazz year ago May and received our cheque last September earlier then expected.....direct deposit 100,000 baht....thank you very much!

I thought they were only giving back 10% of the price? if so what jazz costs 1000000? maybe I got the amounts wrong??

Rebate was 100,000 or less depending on what type of car you purchased, nothing to do with the cash price.

[stockholm1995]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

My wife and I, got 98000 back for the pickup, we purchased on the plan.

My girlfriend bought a nissan Dec 2011.I We didn´t know about the ′First Car′ tax reduction scheme. How to do to get the Tax reduction?

Sorry, you do not qualify.

May i ask why?

[Bagwan]

Moreover, according to Mr. Surapong, investors should also focus more on exports and promotions to increase sales, for instance, to apply 0% interests for 4 years installment-buying.

By investors I assume that he means the Japanese owners. The notion that the Japanese are in need advice from any Thai Government Minister or official is beyond ridiculous.

[Bagwan]

At least there won't be 160 000 more cars to clog up the roads.

At least there won't be 160,000 more cars all burning fuel that has to be paid for in dollars and further polluting the air thus increasing the pressure on hospitals. Increasing the severity of traffic jams and the number of hold ups through avoidable accidents hardly contribute to productivity although I expect the BIB would welcome more motorists to fine for imaginary non-compliance with laws that they have just thought up.

[taotoo]

Not a bad thing if it's 160,000 fewer Nissan Marchs cutting me up.

[Wat dee]

Another bad plan by the Shinawatre gov't - gone more rotten.

I think the idea is great.

[Bagwan]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

My wife and I, got 98000 back for the pickup, we purchased on the plan.

Maybe you would have saved more money by attending one of the auctions that the banks use to dispose of seized vehicles.

[wilcopops]

Yes, a bad plan. I know a teacher with a master's degree in Isaan who bought a new house on the no-down new house scheme, and a new pickup on that scheme, and some furniture on a credit card. She also has a smartphone and can barely afford to eat. Her salary is 30k pm.

She has no clue what her interest rates are, or how long it will take her to pay off her debt.

...and no clue what her salary is either by the looks

[Bagwan]

Another bad plan by the Shinawatre gov't - gone more rotten.

Yes, another failed populist plan.

Did the government really not think that this would encourage people to get into even more debt than they couldn't handle ? I have to think they knew the potential but just didn't care as long as they got favourable publicity.

Mind you i have to say that the public can be their own worst enemies and many jump into these easy loans schemes without ever considering there will be a monthly day of reckoning when the re-payments are due. The usual Thai trait of not thinking things through.

" The usual Thai trait of not thinking things through "

did you think those words through before you wrote them down???

well for me here are a two well thought through words, Ethnic profiling, if you truly feel this way to Thai people then WHY are you here?

Are you suggesting that those ex-pats that settle here were attracted to the overpowering intelligence of the Thai people and the Mickey Mouse Governments that they elect?

[CanInBKK]

Why is there so much flaming of the government in this thread? If the new car buyer has cash in hand to buy a car then more power to them. If the buyer has to borrow to make the purchase then it's the banks' responsibility to conduct its due diligence before issuing the loan. The purpose of the scheme was to stimulate consumer spending which in turn stimulates the economy. If borrowers end up as NPL then the blame lands squarely on the banks and not the government - it isn't the government's job to regulate lending either, that's the Bank of Thailand's duty.

Edited September 23, 2013 by CanInBKK

[kjhbigv]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

Can I claim a refund on the new Nissan Navara I bought last year or did it have to be bought in a Thai name.

It had to be bought in a Thai name.....look on the bright side.....losing the 91k is significantly less than the price of the whole vehicle (in someone else's name!)

[Dfritz2000ph]

I find it appaling to put the blame on the government when the government make that assistance to both the publin and the auto industry. Such schemes is a very good one but it is of the sense of the public to take that risk of paying a debt even they can't afford to buy one........it is not the fault of the government on that matter....

[RogueLeader]

I wonder how many of these people that did drive these cars home, will lose that home to the bank when they no longer can afford to pay the loan.

How many friends/relatives will be in the same trouble because they co-signed for the loan?

I think they would just take the car before they start chasing people for houses.

They do, but given that new cars lose a big chunk of their value as soon as they're driven off the forecourt at the same time as the loan interest is accruing, the car alone is never going to be enough so they seize other assets to cover the deficit.

Credit purchase is a disgusting game that only profits pigs.

[whiteman]

We bought a new Honda April 2012, STILL waiting for 63,000thb rebate to be paid. EXCUSE after EXCUSE, visits to Sri Racha Office ..next month, next month... Has anyone here received their REBATE, & if YEs, how long did it take to process??

Thanks

My gf bought hers in June 2012 and she got the rebate but I can't remember if it was in June or the first week of July.

I bet you finish up paying for it too

[whiteman]

My GF & I just got BHt 91000 back for a Vigo bought last year. Thank you Yingluck.

My wife and I, got 98000 back for the pickup, we purchased on the plan.

Maybe you would have saved more money by attending one of the auctions that the banks use to dispose of seized vehicles.

Yes but that would mean he would have to pay in full cash up front

[MaxYakov]

At least there won't be 160 000 more cars to clog up the roads.

At least there won't be 160,000 more cars all burning fuel that has to be paid for in dollars and further polluting the air thus increasing the pressure on hospitals. Increasing the severity of traffic jams and the number of hold ups through avoidable accidents hardly contribute to productivity although I expect the BIB would welcome more motorists to fine for imaginary non-compliance with laws that they have just thought up.

And being dangerous obstacles in narrow sois because of a dearth of residential parking.

Edited September 23, 2013 by MaxYakov

[Spare]

Let me see, 1.08 million new cars with new drivers that do not know road rules on thailands roads. What can go wrong with that?

I guess atleast half dont have a licence and no intention to get one.

most of them were bought by grannies and grandfathers [first car]

For the love of their grand children.

[tingtongfarang]

Another bad plan by the Shinawatre gov't - gone more rotten.

Yes, another failed populist plan.

Did the government really not think that this would encourage people to get into even more debt than they couldn't handle ? I have to think they knew the potential but just didn't care as long as they got favourable publicity.

Mind you i have to say that the public can be their own worst enemies and many jump into these easy loans schemes without ever considering there will be a monthly day of reckoning when the re-payments are due. The usual Thai trait of not thinking things through.

" The usual Thai trait of not thinking things through "

did you think those words through before you wrote them down???

well for me here are a two well thought through words, Ethnic profiling, if you truly feel this way to Thai people then WHY are you here?

Are you suggesting that those ex-pats that settle here were attracted to the overpowering intelligence of the Thai people and the Mickey Mouse Governments that they elect?

[Woodsie888]

Bought a Honda Jazz year ago May and received our cheque last September earlier then expected.....direct deposit 100,000 baht....thank you very much!

Are you sure?

I don't think any Jazz qualified for 100,000THB rebate.

Some pick ups did, but no cars.

You're perhaps a little mistaken.

I'm being polite.

[gp2002]

Something even more amazing would be if those 1 million owners actually had a license or knew how to drive.

A girl I worked with bought a new Mazda and she asked a friend to come to the dealership to drive the car home because she didn't have a license or know how to drive.

TiT

[899cc]

Bought a Honda Jazz year ago May and received our cheque last September earlier then expected.....direct deposit 100,000 baht....thank you very much!

Are you sure?

I don't think any Jazz qualified for 100,000THB rebate.

Some pick ups did, but no cars.

You're perhaps a little mistaken.

I'm being polite.

your mistaken the scheme was also open to cars upto 1500cc & that included the jazz & the full rebate 100,000baht, i'm being polite.

[Thai at Heart]

Borrow borrow borrow.The Thai's have obviously not heeded the painful lessons in recent years of the west.The country will soon come down like a pack of cards,but in the meantime i can hear my Thai friends singing ''I owe,I owe it's off to work i go''.

I very much doubt it - the fundamentals of the Thai economy are strong - no welfare state, families prepared to live in virtually one room, hard bloody work and salaries that are peanuts compared to the west - that why compared to my currency , sterling the baht is bloody expensive. For all it faults - and there are many - foreign direct investment will continue to come in especially so as the Japanese are not so welcome anymore in a growing and militant nationalist China whereas Thailand is their corporate playground.

At the end of it all crisis is caused by excessive debt.

Is it excessive yet? I wouldn't expect the government to warn us either way.... Thinking that the average wages in Thailand are 80% lower than the west, something is going to give....

[Woodsie888]

Bought a Honda Jazz year ago May and received our cheque last September earlier then expected.....direct deposit 100,000 baht....thank you very much!

Are you sure?

I don't think any Jazz qualified for 100,000THB rebate.

Some pick ups did, but no cars.

You're perhaps a little mistaken.

I'm being polite.

your mistaken the scheme was also open to cars upto 1500cc & that included the jazz & the full rebate 100,000baht, i'm being polite.

I stand corrected.

I'm still polite.

Edited September 23, 2013 by Woodsie888