Is this a Good Deal on Second Hand Car

[llp]

My friend has for sale a Toyota Vios 2008 Automatic for 290K baht in Chiang Mai. I know the history of the car and trust my friend. Looking on TaladRod this seems to be inline with the prices, but I also see some 2010 models for the same price, however these are in Bangkok and the history of the car is unknown.

Also, it looks like a 2010-2012 Mazda 2 is just a around the 300K-350K range on TaladRod which would be more fun drive and a newer car. Looks like owners took a big depreciating hit and these seem like a good deal as well.

Comments if the Vios is a good deal? Or better value for a Mazda 2.

[Thailaw]

You do not provide enough information to begin to answer your question -- there are 4 grades of Vios, "J" to "S", manual and automatic, km's on the clock, condition, etc. These factors can affect the value of the car B80,000 or more. For a "good condition" 2008 "E" model automatic Vios with 80,000 km or less on the clock, B260,000 to B280,000 would be a "reasonable" price to pay. You can get a low mileage 2010 E for less than B300,000. Since the new model Vios has come out, the older model Vios has dropped in price significantly. Also, the 1st time car buyer scheme of the Thai government has resulted in many small cars being available in the used car market, also causing a price drop in this sector of the used car market.

But, as you note, for a little more money, you could get the Mazda 2, which is a better car to drive and better looking IMO. And if you get a 2012, it should have at least 1 year remaining on the mfgr's warranty (assuming that it will transfer to you with the sale – need to confirm that), which helps to reduce the risk of latent mechanical problems. You can also have the car checked by a mechanic to evaluate its condition for little money. I would not place much/any value in buying a car from a "friend", and not too much can be done to a car to harm it in a year and a half's ownership (assuming it is a 2012 model year), assuming that the oil has been changed regularly and it has not been raced.

[llp]

Wow thanks for all the information. Exactly the type of response I was looking for. I had my mechanic look at the car, and he test drove it as well, and he said everything is great, it runs like new expect will need new tires. Only 40K Km on it and it is an automatic Vios type E. I know the owner for a few years, responsible doctor with short commute, and one fender bender accident that was fixed, regularly serviced, etc.. I wish I can get a better deal but not many deals in Chiang Mai, and I would be working with unknown sellers. Guess I can't go wrong with a Vios that can be fixed anywhere if issues arise.

I can't believe some of the asking prices I see for some cars, they don't reflect the range which I thought was a fair price, and going off your post, it seems it can be a little lower. Looks like some people can't accept the true market values of cars. Looks like Mazda 2 owners have taken a huge hit, and seems like great value to buy, especially if you still have a remaining warranty.