What has happened to the second hand prices recently in Thailand

[Martinpeter]

Hi all/.

I can't believe some of the prices of nearly new/second hand cars/trucks recently?

Looks like the good times - for selling a used purchase are over?

Just look on the web-sites etc, 2013/2014 models selling at 50% of the price bought new? somebody is losing a fortune?

What's the answer? buy new now and keep many years, or buy a nearly new model less than one year old (big savings nearly 50%) and take the risk, that everything goes ok. Seems the later is now a good way to go. Surely the 400k plus saving or more, will not come back bite you later in major problems hopefully.

any thoughts members

cheers

[fredob43]

I think you'll find that it's mostly been caused by the last government car tax pay back set up lot's of peeps brought vehicles that they couldn't afford, and have had to sell them flooding the market.

If you are looking for a nearly new one good time to buy. Selling is another matter.

[ExPratt]

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I think you'll find that it's mostly been caused by the last government car tax pay back set up lot's of peeps brought vehicles that they couldn't afford, and have had to sell them flooding the market.

If you are looking for a nearly new one good time to buy. Selling is another matter.

We bough cash on that scheme and it took almost 2 years to get 100,000K back,

[MYKTHEMIN]

No sign of this trend up here in Loei, where are you talking about, and what make? Ford or Chevrolet yes, Toyota Isuzu not a chance.

[fredob43]

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I think you'll find that it's mostly been caused by the last government car tax pay back set up lot's of peeps brought vehicles that they couldn't afford, and have had to sell them flooding the market.

If you are looking for a nearly new one good time to buy. Selling is another matter.

We bough cash on that scheme and it took almost 2 years to get 100,000K back,

You unlike 99% of Thais brought cash.

Everyone had to wait the two years for refund, most Thais now realised they cant afford the H/P so the things have had to be sold. As I said flooded the market bringing the price of second hand one down.

[daveAustin]

'Bout time if true, secondhand vehicles are grossly overpriced in this country.

[cumgranosalum]

Thailand has the 9th largest motor industry in the world and the production of cars is both subsidised and protected.........this has meant that the country has transformed very quickly from an equipment market to a replacement market. Finance and loans has also helped this. Finally the basic laws of supply and demand are being felt.

Simply put, there are a lot of cars in Thailand and as most people now have one it is getting more difficult to sell an older one.

[LivinLOS]

I agree that used prices on cars have really changed in the last 2 years.. And anyone needing to liquidate quick is looking at a big loss.. Seems a lot of dealers who used to just sit on inventory for years are going to face a big issue with asset writedowns.. The model of just leave it on the lot forever until someone pays 70 % of new price is for sure over.

The 2nd tier brands especially.. I have seen tritons and pajeros get very weak money lately.. Theres still very little worth owning at the bottom end tho, bargains under 100 - 150k as simple beaters usually terrible.

Leads to some odd things tho.. I can see many hilux tigers on taladrod asking more (in some cases much more) than i paid for a clean vigo hilux.. Thais have seen a car like an asset, with very little depreciation.. Finance companies lent based on resale prices they may struggle to obtain in repos now..

Definitely its changing..

[inzman]

It's about time used car prices reflect reality here. I got a really great deal on a slightly used car recently. I am happy to see they now realize car values go down not up.

[muratremix]

Don't believe prices you have seen in craigslist. There are too many scammers nowadays and not a good place to learn 2nd hand prices.

Check taladrod for real prices.

[NanLaew]

Don't believe prices you have seen in craigslist. There are too many scammers nowadays and not a good place to learn 2nd hand prices.

Check taladrod for real prices.

taladrod on the other hand is chock full of wishful thinkers; those 'Price Check' prices are only what people think their car is worth. As mentioned earlier, the first-time car buyer scheme and its aftermath have pretty much buggered the second-hand market and trade-in and tent prices are a good 20%-30% lower than what people are asking/hoping.

The wife got lucky and offloaded her 8 year-old 'immaculate' Honda CR-V for 390 k baht. She was asking 400 k baht. The best a tent offered her was 'maybe' 350 k baht. Meanwhile on taladrod, similar age cars are being touted at 560 k baht to 650 k baht. That last price range is probably a realistic value on a premium SUV that cost near 1.2 m baht 8 years ago (only 60,000 km clocked) but right now, there's no realism in much of anything in Thailand IMHO.

Edited February 22, 2015 by NanLaew

[Keesters]

Simply put, there are a lot of cars in Thailand and as most people now have one it is getting more difficult to sell an older one.

"Most people have one"

Which Thailand do you live in?

[ignis]

in August 2008 needed to change my car, took around 2 weeks visiting many cars both private and tents.. [ended up with a Audi A6 one owner low KM and service history]

I my hunt 2 that stand out were a Volvo and a Saab, both at the same Tent, both being high clock readings and expensive, since then often look at there website, both these cars are still For Sale last update 19 Feb 2015, both have come down 100,000 baht since 2008, guess KM reading now would be about right as they have sat there another 6 odd years, even so still at least 100.000 baht over priced in today's market..

other places I pass, often see cars that have been there years, one wonders how some of these places are still going..

My next change of car will be something around 2 years old as they have lost so much in the 1st year, even more after 2 years before they appear to level out and drop little.

[stevenl]

It's about time used car prices reflect reality here. I got a really great deal on a slightly used car recently. I am happy to see they now realize car values go down not up.

Reality is what cars are being sold for. Prices have been real years ago and are real now, just lower. Comparing to 'back home' is really not a good idea.

[ExpatOilWorker]

Where do you see all these "cheap" cars?

one2car?

[cooked]

I bought a new Almera 15 months ago. I just got a letter from Nissan stating that they will give me a good exchange price if I buy a new one. 43 000 Km. Don't ask me what that's about.

[NanLaew]

I bought a new Almera 15 months ago. I just got a letter from Nissan stating that they will give me a good exchange price if I buy a new one. 43 000 Km. Don't ask me what that's about.

Like all the dealers at the moment, it's about getting your arse in a new ride while they have loads of special offers and they can still make some money on a trade-in as your current ride's age is just what the tents are looking for, ie. < 3 years old and low mileage.

Ford in Udon just did me a smokin' deal on my 3 year old Ranger 2.2 XLT that saw me leaving in a new Wildtrak 3.2 4x4 and 90 k baht cash in my pocket.

Edited February 22, 2015 by NanLaew

[ignis]

Where do you see all these "cheap" cars?

one2car?

Are they cheap cars ? or now normal prices ?

lots of other websites as well...

2013 Chevy Trailblazer LTZ now ½ the new price, same with Sonic..

even the A5 Audi because I was looking at replacing my A6 sometime.. 2012 full Audi Service = ½ new price......

noticed BMW and Benz have lost a million in a year.

as for the little + baby engined tin cans most are ½ new price regardless of make.

[gawaterman]

What does "tent" mean? Never heard that expression.

[RBOP]

You can easily figure out what your second car is worth by adding 25% to what the insurance coverage is to replace that car. If insurance was more than the going resale value, then everyone would be burning their cars.

[plaloma]

I wonder in which part of Thailand you are living . I am looking for a decent second hand car since few months and those cars are as expensive as new ones here in Phuket. On which websites did you see those cheap prices ??

[LivinLOS]

Where do you see all these "cheap" cars?

one2car?

Taladrod, olx, thaisecondhand, (bikes) mocyc.. These can also be horrible old 'classics' and badly maintained nasty junk..

Bahtsold and here.. Both tend to be hopeful pricing but your more likely to deal with a farang and have maintenance..

Also check the specific brand forums for vigos and things.. Enthusiast owned vehicles get better looked after (sometimes) the downside is a 'enthusiast owned' 4x4 may have been flogged..

[LivinLOS]

Ford in Udon just did me a smokin' deal on my 3 year old Ranger 2.2 XLT that saw me leaving in a new Wildtrak 3.2 4x4 and 90 k baht cash in my pocket.

But again.. Those cars have to go somewhere and theres volume hitting the market..

Auctions also.. unreliable history and traditionally where the dogs get sent.. But seeing low to mid spec pickups, the kind more for commercial use, go for not a lot.

[ALFREDO]

Like all the dealers at the moment, it's about getting your arse in a new ride while they have loads of special offers and they can still make some money on a trade-in as your current ride's age is just what the tents are looking for, ie. < 3 years old and low mileage.

Ford in Udon just did me a smokin' deal on my 3 year old Ranger 2.2 XLT that saw me leaving in a new Wildtrak 3.2 4x4 and 90 k baht cash in my pocket.

It seems you are informed about the Ford Udon possibilities, please,

give me some insight, also in PM possible.

I was interested in that car since long, but Ford has that engine only in one model,

which has a high list price.

So until now, I never looked at that Ford again.

Stumbled over a presentation from Mazda and they offered a reasonable price for that same engine in their model but in shift gear, what is also ok for me.

Thank you for some very appreciated infomation and advise.

[cumgranosalum]

It's a simple market following normal market forces - supply, demand and government regulations and the national economy....there's no one single event, but most countries as they develop find the second-hand prices descend.........just look at places like Australia and New Zealand where secondhand prices were astronomical in the 1990s.

countries where you can earn a living out of a vehicle, the price reflects the income you can expect from your investment....

[elgordo38]

Simply put, there are a lot of cars in Thailand and as most people now have one it is getting more difficult to sell an older one.

"Most people have one"

Which Thailand do you live in?

I have bumped into 3 people in the last year that bought new vehicles and from what their earnings and obligations are I scratch my head in wonderment as to how they pay for them and they are all financed. If you extend this over the whole country there are thousands with cars that cannot afford them. Yes the 100,000 baht rebate did flood the market and a lot of buyers should not have purchased a vehicle. I also cannot understand why financial institutions loaned them the money. I sure would not have.

[cumgranosalum]

Simply put, there are a lot of cars in Thailand and as most people now have one it is getting more difficult to sell an older one.

"Most people have one"

Which Thailand do you live in?

OK OK, I should have said "more and more" - the current ownership is 205 and rising compared to 50% in UK and 80% in USA... the thing is ownership is on the up and at a much faster rate than in developed countries and there is now a replacement market which means second-hand prices will fall.

It is also likely that AEASAN will have an effect as Thailand will eventually have to reduce its protectionist legislation and tariffs.

[cumgranosalum]

'Bout time if true, secondhand vehicles are grossly overpriced in this country.

no such thing as "overpriced" - they just cost more than in other countries, but that is the way the market works here.

[Benjie]

The 2nd hand market is changing, you can buy a new Toyota Yaris for a little over 400k that does 20km to the litre, automatic, airbags etc.... Many of the car companies are offering 0% finance or loans over 7 years and theres a glut of cars/pickups at the tents. It will be interesting to see what happens when they bring out the 2nd phase of the ecocars with 25km to the litre.

[cumgranosalum]

The 2nd hand market is changing, you can buy a new Toyota Yaris for a little over 400k that does 20km to the litre, automatic, airbags etc.... Many of the car companies are offering 0% finance or loans over 7 years and theres a glut of cars/pickups at the tents. It will be interesting to see what happens when they bring out the 2nd phase of the ecocars with 25km to the litre.

It new market is too....i don't know the figures but it would seem reasonable to assume that the sedan share of the market i=has increased significantly over the past 5 years - whether that means that pickup sales are actually declining I wouldn't venture to say, but there arre certainly a wider variety of cars on the road. This is the end will mean that in order to keep the Japanese interested in investing i Thailand they will have to change to protectionist laws which at present are mostly aimed at pickups made here. The industry is also becoming more and more export orientated....all this plus ASEAN means that the Thai market will need to be more open and thus affected by international market trends - so a gradual drop in second-hand prices.