The price of used cars

[Sydebolle]

Correct for two reasons:
- of the 1.2 mio. cars sold under PTP's populistic election campaign for first-time buyers some 25%-30% are back on the market as the buyers cannot afford it - irrespective of old auntie's name in Nakorn Nowhere on the registration. The buyers thought "Buy, get the THB 100'000 rebate, stop paying". Well, it worked out as "buy, stop paying" (without the THB 100'000) which has drowned the finance companies with a model of each and every car model/make/colour

- the floods of 2011 and this year have damaged quite a few cars which, unlike in other countries where they are written off, are getting "repaired". I've seen fantastic "deals" in tents all over Pattaya lately with water damages (inside of passenger compartment all clean but they forgot the trunk's carpets).
I, for one, cannot afford to buy a second-hand car. Go for a new car as long as there is neither a proper consumer protection board nor a seller's guarantee you can invoke in case of untold "stories".

[pokerspiv]

Two things have happened lately:

1: The government tax rebate last year has seen a lot more people buying cars, and a lot of used cars on the market as a result.

2: The government has announced that the price of LPG will eventually be going from 12 baht a litre to 26 baht a litre, so a lot of people are going to start offloading their old LPG-powered cars because they can't afford to run them any more.

LPG going up to 26B a lire, where did you hear about this gem?

Just another rumor started by the Government.

It's not a rumour. LPG is currently heavily subsidised by the Thai government. They are planning to remove the subsidy in stages. Without any subsidy it would currently cost 26b/Litre.

http://globalvoicesonline.org/2013/08/25/photos-protest-against-lpg-price-hike-in-thailand/

[kannot]

Used car prices has gone down 30%. Maybe not the dealers asking price, but for sure the price the dealer will offer to pay, for your second hand car. For this you can send thanks to the PTP government, for their last years 100000 THB first car discount. Now there are 1 Million too many cars in the market.

It is called a first car discount. Then that means there are not more used cars on the market because of this discount.

and none got registered to 99 yrs old granny did they?

[uptheos]

Two things have happened lately:

1: The government tax rebate last year has seen a lot more people buying cars, and a lot of used cars on the market as a result.

2: The government has announced that the price of LPG will eventually be going from 12 baht a litre to 26 baht a litre, so a lot of people are going to start offloading their old LPG-powered cars because they can't afford to run them any more.

LPG going up to 26B a lire, where did you hear about this gem?

Just another rumor started by the Government.

It's not a rumour. LPG is currently heavily subsidised by the Thai government. They are planning to remove the subsidy in stages. Without any subsidy it would currently cost 26b/Litre.

http://globalvoicesonline.org/2013/08/25/photos-protest-against-lpg-price-hike-in-thailand/

It will go up in line with other ASEAn countries, which is more than 26 baht. A lot of people are realising this and you will see that the market is flooded with people trying to offload their LPG converted cars, hopefully to people who haven't yet heard that the increase will be substantial.

[Arkady]

Unsurprisingly the biggest price drop is in cars that were eligible for the raving loony "My First Car" scheme. I think Benzes and BMWs are holding up better.

[moe666]

This story has been in the papers for months, instead of buying a used car people bought the new one and got the tax break so now more used cars on the market.

[moe666]

 

Used car prices has gone down 30%. Maybe not the dealers asking price, but for sure the price the dealer will offer to pay, for your second hand car. For this you can send thanks to the PTP government, for their last years 100000 THB first car discount. Now there are 1 Million too many cars in the market.

 

Bullshit. Part of the deal to get the rebate was that the owner can not sell the car for a few years (6 or 7?)

Yes that is true but people bought new cars for the rebate and not used cars so now used cars flood the market it has been in the papers for months.

[salapau]

Well I have only been looking for a car the past few weeks ... So can't really comment on the 30% in the last six months. However I did find the price of a second hand car extremely expensive. I went to a Nissan dealer in Pattaya, I just wanted a small car, thought the Nissan March would be ideal. New price starts at 382,000 baht. This is for the basic model, and when they say basic .. Its basic, not even a radio !! The next model up had all the bits you expect on a car, price 444,000 baht. I spotted a second hand car and wandered over to have a look. It was in good condition, but had 72,000 kilometers on the clock. When I inquired I was told the car was 3 years old, the best bit, it was the basic model ... How much? 350,000 baht !!! 32,000 baht cheaper than a new one?

So buy a new one !

[David48]

For many years I refused to buy a car because of the inflated prices, and we really do not have much use for one. Spotted a car on the street, checked it out, 15 years old, 1 owner, she has bought a new one. Well maintained, drives well all for 65,000 baht. Use it for shopping and longer trips, it has opened up new areas for us,still use tuk tuk to go out at night and to go into CM city centre where parking is at a premium. At the price, it is worth having it sitting in the drive.

65,000 Baht ... that's more like my budget ... what car would I get for that?

Seriously ... leave the comedy for Saturday Night ...

[kartman]

For many years I refused to buy a car because of the inflated prices, and we really do not have much use for one. Spotted a car on the street, checked it out, 15 years old, 1 owner, she has bought a new one. Well maintained, drives well all for 65,000 baht. Use it for shopping and longer trips, it has opened up new areas for us,still use tuk tuk to go out at night and to go into CM city centre where parking is at a premium. At the price, it is worth having it sitting in the drive.

65,000 Baht ... that's more like my budget ... what car would I get for that?

Seriously ... leave the comedy for Saturday Night ...

Quick of the mark and a mint 96 Nissan Presea 55,000baht on Taladrod 8am today phoned at 8.45 600+views no answer car removed at 1pm 2100+views

[Cuban]

Since the new car buyer scheme ended last year there has been a steady decline in sales during 2013, with data from May to September showing a fall below "normal" sales - so there is an across the board drop in car sales: hence the second hand prices coming down too. Few are buying.

Like suggesting that 25 Baht is the price for fried rice, the actual percentage drop will vary between cars brands, age and type as well as where in the country you are. I echo the comment another made that about 15% is a better average fall if you seek to encompass the whole market in one number.

The car buyer scheme does not none much positive to the whole car market really in the long term but put more cars on the street and dilute prices, which in turn will put some off buying any car as in the past they could always be relied upon to hold their value: Cheap parts & cheap repairs.

Just a pity they are not serviced.

[kurnell]

We have been trying to sell our Civic for several months at well below market rates and have had no serious offers so 30% is a good estimate

Sent from my iPhone using Thaivisa Connect Thailand mobile app

My wife got a swift (still waiting for the rebate), and just kept our civic as a second car. Most of the time the civic is garaged. It's got nearly 220K kms now so deserves semi-retirement. Second had prices are very low now - 2004 2.0 models at tents can be had for 300K or so. A couple of years ago i could have got abut 450-500K for it.

I think you'll find your Civic is worth around 200k in today's market.

[bangkokstick]

Benz still expensive :-)

[culicine]

We have been trying to sell our Civic for several months at well below market rates and have had no serious offers so 30% is a good estimate

Sent from my iPhone using Thaivisa Connect Thailand mobile app

My wife got a swift (still waiting for the rebate), and just kept our civic as a second car. Most of the time the civic is garaged. It's got nearly 220K kms now so deserves semi-retirement. Second had prices are very low now - 2004 2.0 models at tents can be had for 300K or so. A couple of years ago i could have got abut 450-500K for it.

I think you'll find your Civic is worth around 200k in today's market.

I'm sure that's all a tent dealer would give me - I reckon it's good for 5 more years as it's in excellent condition, bar a few things that need doing - wife will be driving it between bkk and chonburi once a week, so want to get those things sorted. Uses a fair amount of petrol too, and people are more conscious of that these days. That doesn't help resale.

[kurnell]

We have been trying to sell our Civic for several months at well below market rates and have had no serious offers so 30% is a good estimate

Sent from my iPhone using Thaivisa Connect Thailand mobile app

My wife got a swift (still waiting for the rebate), and just kept our civic as a second car. Most of the time the civic is garaged. It's got nearly 220K kms now so deserves semi-retirement. Second had prices are very low now - 2004 2.0 models at tents can be had for 300K or so. A couple of years ago i could have got abut 450-500K for it.

I think you'll find your Civic is worth around 200k in today's market.

I'm sure that's all a tent dealer would give me - I reckon it's good for 5 more years as it's in excellent condition, bar a few things that need doing - wife will be driving it between bkk and chonburi once a week, so want to get those things sorted. Uses a fair amount of petrol too, and people are more conscious of that these days. That doesn't help resale.

0% finance on new cars at the moment too

[Torrens54]

I've been watching the prices on the most popular used car site for about a year now. IMO they have become cheaper. eg, a five year old car seems to be about 15% less than a similarly aged vehicle would have been a year ago.

For those in the market, there appear to plenty of very good used vehicles at about the 300,000 mark.

Maybe the Lower price is a result of them having had "A SWIM" during the flooding??

[8OA8]

Used car prices has gone down 30%. Maybe not the dealers asking price, but for sure the price the dealer will offer to pay, for your second hand car. For this you can send thanks to the PTP government, for their last years 100000 THB first car discount. Now there are 1 Million too many cars in the market.

Oh what joy it would be if only there really were 1 million too many cars in the market. Unfortunately they arent in the market, but they are on the roads and in the parking spaces everywhere in Bangkok

[LivinLOS]

For many years I refused to buy a car because of the inflated prices, and we really do not have much use for one. Spotted a car on the street, checked it out, 15 years old, 1 owner, she has bought a new one. Well maintained, drives well all for 65,000 baht. Use it for shopping and longer trips, it has opened up new areas for us,still use tuk tuk to go out at night and to go into CM city centre where parking is at a premium. At the price, it is worth having it sitting in the drive.

65,000 Baht ... that's more like my budget ... what car would I get for that?

Seriously ... leave the comedy for Saturday Night ...

Nissan NV.. Buddy just bought one at that price and it all works..

Plenty of old beaters at that kind of money if you keep your eyes open..

[IMHO]

Used prices for cars that were originally < 2M Baht have indeed dropped, but nowhere near 30% extra - more like 10-20% extra depending on the model. The prices of 10+ year olds cars have indeed fallen through the floor though, but that's being driven by a combination of the used cars glut, and more affordable and desirable new cars.

New cars have also been feeling the pain, which is why <2M Baht cars are now finally being discounted, and every manufacturer in the price segment is now offering low/0% finance.

In the >2M Baht price range, sales have never been better though, and used cars prices in this segment are pretty stable.

In short, it's a buyers market again - it hasn't been like this since the Asian economic crash, and it will turn around, so buy now if you can.

Edited October 27, 2013 by IMHO

[Spoonman]

Was toying with the idea of trading my Ranger on a Mazda 3...... was offered 350k.

[IMHO]

Was toying with the idea of trading my Ranger on a Mazda 3...... was offered 350k.

Yep, trade-in prices are terrible - the average age of used inventory has gone from a best of around 40 days about 3 years ago, to over 300 days now.

[Tycoon]

I used to accompany my wife tutoring the children of a car company dealing in 2nd hand slightly, used cars. Those cars are still look great! With different brand like Toyota, Honda, BMW, etc. Lots of choices.

The owner offers us to sell. We do not add prices because they don't like. So it is them who give the price for your choice.

They might be one of the cheapest because I see customers everytime I am there.

If you are interested, just contact us

What !!!!!

[ignis]

Memory is not what it was, but feel sure 2nd hand cars have dropped in price a lot this year..

new shape E class Benz have seen 2011 models for a little over 2 million, as new with 30 - 40,000 KM on the clock, that is a loss of over 1 million in 2 years or less, the rather better looking [than the Camry or Accord] Sonata Sports G also dropped 7 - 800 k in less the 2 years. most Protons appear to have lost 45% after 2 years,

As for something I like the shape of, but not sure I would buy one, a Cherry Tiggo has lost 45% after 1 year, so well worth buying 2nd hand.

Cannot see any point in buying a near new, near same price 2nd hand Thai main stream car.

Going older a Luxury car can be found for the same price as a rather basic Camry or Accord of the same year, cost new many times more than the Thai car + loaded with kit and safety features......... it is up to each person what they want, what they need, time they will keep, use it etc..

[SteveH]

^{My wife's cousin reckons she has lost about 20000 Baht on a 10 year old Vios, all due to the 100000 Baht government subsidy they were giving on new cars}

[Cuban]

0% finance on new cars at the moment too

You do of course understand that this means that the interest that they would have expected to earn is now built into the purchase price of the car (package) so you loose the option of paying off the loan early to reduce the interest element of the deal?

Dealers earn most from a finance deal and least from a person paying cash in one hit, nice for a burst of cash but less margin on the deal. With the 0% finance they get to keep the car in their name, get the cash turn over while the buyer is paying and get the car back to sell should the buyer get into "difficulties". Again the original selling price and the monthly payments will have been calculated to cover the costs/risk of recovery and resale.

The package will probably include dealer insurance cover, which is seldom the good deal for consumers that many think it is.

Other threads here has highlighted the captive limitations that dealer insurance brings with it.

What the large print promises does the small print take away !

Buying new is great if no one smashes into it.

This is Thailand.

[ignis]

Buying new is great if no one smashes into it.

buying nearly new has someone smashed into it ?

had to take some parts to a body repair shop near BKK, loads of smashed cars many still on red plates.

[pokerspiv]

For many years I refused to buy a car because of the inflated prices, and we really do not have much use for one. Spotted a car on the street, checked it out, 15 years old, 1 owner, she has bought a new one. Well maintained, drives well all for 65,000 baht. Use it for shopping and longer trips, it has opened up new areas for us,still use tuk tuk to go out at night and to go into CM city centre where parking is at a premium. At the price, it is worth having it sitting in the drive.

65,000 Baht ... that's more like my budget ... what car would I get for that?

Seriously ... leave the comedy for Saturday Night ...

I recently bought a 1992 Toyota Corona for 65k baht. Story of my experience is here http://www.thaivisa.com/forum/topic/672261-old-toyota-corona/

[asean]

New car dealers love the absurd dreamland values Thais place on their secondhand cars. This weekend on deal fish 2003 Audi A4 600,000. Same car in Australia 240,000.

For non imports much cheaper to buy new in Thailand than used.

[Ace of Pop]

Just been using a new Suzuki Entega or something like that, for 600 K. new in auto form , its a super little Car round Town.

[FangFerang]

It's easy to get a bank note for a new car. How hard is it to get a loan for a used car?

Just asking. Any help would be greatly apppreciated.

Fang

Edited October 28, 2013 by FangFerang