Second hand car prices collapsed?

[PoisonedinBKK]

Last time i checked second hand car prices were very high. A 1 year-second hand car would only differ 80k or so from the same brand new model.

I'd like to sell my 2012 (December) mazda 3 1.6L ,automatic, 10.000KM, quartz body coating which i bought for 825.000THB + 25.000? THB for the coating but i'm shocked by how much second hand car prices have dropped.

It's not even 1 year old yet and i'm already making a loss of 250.000 to 175.000 THB if i sell it now.

Thanks Yinluck for flooding the car market with mazda 2's, nissan marches and whatever because of your stupid 1st car scheme. Now i don't know if i can sell my car because there are so many cheaper impounded cars for sale from people who weren't able to pay the finance.

[Minpin]

According to one2car today. Mazda 3 1.6 AT 2012 range from 599,000 to 828,000

[tua2kee]

A victim of the government's policy. Some gain some lose.

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[OMGImInPattaya]

By getting the market price for a used car...what, did he think it was an investment and he could dell it for more than what he paid?

In any market, someone's loss is another's gain...I'm sure those in the market to buy a used car are very happy so the total balance of sadness and happiness remains in cosmic equilibrium.

[uptheos]

Nice to see the price of used cars dropping.

[metisdead]

A nonsense post using all caps has been removed as well as a reply.

[guzzi850m2]

I am no expert but perhaps in a year or 2 when everybody prefer to buy second cars the prices will go up again on same, or am I mistaken?

[rayinkrabi]

I'm no expert either but have bought quite a few new motors here over the years and of course always expect to take a knock financialy if selling early. I bought a new Fiesta on finance at the beginning of this year however my situation changed soon after plus I realised I missed my truck too much so asked a few local dealers what it would be worth to them.

I was staggered when told 450 k baht, which would have been a loss of 360 k over just 5 months! I'm not sure if this amount of depreciation is a new trend or simply a reflection on Ford or small cars in particular?

[andrewrooney]

I'm no expert either but have bought quite a few new motors here over the years and of course always expect to take a knock financialy if selling early. I bought a new Fiesta on finance at the beginning of this year however my situation changed soon after plus I realised I missed my truck too much so asked a few local dealers what it would be worth to them.

I was staggered when told 450 k baht, which would have been a loss of 360 k over just 5 months! I'm not sure if this amount of depreciation is a new trend or simply a reflection on Ford or small cars in particular?

You're always gonna take a hit if you sell it to a dealer, they have to make a profit you know.

[rayinkrabi]

yes I realise that, I've just been lazy I guess but this 'hit' was too big to take for me. Any idea as to what profit margin or % the dealers expect to make?

[thailoht]

I'm no expert either but have bought quite a few new motors here over the years and of course always expect to take a knock financialy if selling early. I bought a new Fiesta on finance at the beginning of this year however my situation changed soon after plus I realised I missed my truck too much so asked a few local dealers what it would be worth to them.

I was staggered when told 450 k baht, which would have been a loss of 360 k over just 5 months! I'm not sure if this amount of depreciation is a new trend or simply a reflection on Ford or small cars in particular?

You're always gonna take a hit if you sell it to a dealer, they have to make a profit you know.

yes I realise that, I've just been lazy I guess but this 'hit' was too big to take for me. Any idea as to what profit margin or % the dealers expect to make?

Sadly, you just happen to be entering the used car market here in LOS at a time it's making a (well deserved - IMHO, of course!) correction from the years of absurdly high prices of the sellers market it had been for too long.

[rayinkrabi]

I agree used truck prices have always been absurdly high due to the demand I guess but I still reckon a decrease in value of around 25% in the OP's case or even worse as in my case (albeit quoted by a dealer of course) in such a short time is equally absurd. Btw, apologies as I meant to type "a loss of 310 k" in my earlier post but this is still 60%!...

[thailoht]

I agree used truck prices have always been absurdly high due to the demand I guess but I still reckon a decrease in value of around 25% in the OP's case or even worse as in my case (albeit quoted by a dealer of course) in such a short time is equally absurd. BTW, apologies as I meant to type "a loss of 310 k" in my earlier post but this is still 60%!...

Markets are fickle - always foreseen variables at play. Only time will tell if today's market reality is just a 'hiccup' or will it be a scary roller coaster ride...

...now, if only this buyers phenomenon would hurry up and move into the real estate market!

[ignis]

Good job it is only a 1.6 Mazda 3, had it been a 1.6 C Class Benz you would have lost around 850 -1 million baht in a year.. even more if it was a E class..

[sjonburi]

With the policies this government is coming up with, everybody loses in the end.

A victim of the government's policy. Some gain some lose.

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[rayinkrabi]

Just researched a bit more over lunch on this one, but first I have to eat humble pie again as my devaluation was around 41% after 5 months and not 60 as I first said. I referred to the What Car Depreciation Index for comparisons (link below) and found the Fiesta and Mazda 2 (sorry OP, couldn't see the Mazda 3 listed) has a dep'n rate of around 33% at 1 yr old.

This may be well out compared to the Thai market & spec, favoured models etc. but it seems the OP is better off than some and mine isn't so bad after all considering my quote was from a local car tent..

http://www.whatcar.com/Advice/DepreciationIndexDelete?edition1=36426&edition2=36003&edition3=41738&remove=36003