Used Car Prices

[STARGASA]

Anyone any idea why second hand cars are so expensive here .

[kkerry]

I guess you haven't been in Thailand long... prices for late model used cars, especially under 1 million when new have come down a lot the past couple of years, compared to the days when sellers expected 90% of the new price for a two or three year old car.

[STARGASA]

I guess you haven't been in Thailand long... prices for late model used cars, especially under 1 million when new have come down a lot the past couple of years, compared to the days when sellers expected 90% of the new price for a two or three year old car.

Thanks for that, but it doesnt explain why the older cars are are almost double the price in the uk.

[Torrens54]

The reason is very simple.

The Used cars here, are almost TWICE as good as those in the U.K.

Remember, every Used Car you buy in Thailand, is BRIMMING OVER with.............THAINESS!!!

[stevenl]

Many reasons for that, demand, finance options, labor cost, etc. This question has been asked many times here, a search will help you further.

[ignis]

I guess you haven't been in Thailand long... prices for late model used cars, especially under 1 million when new have come down a lot the past couple of years, compared to the days when sellers expected 90% of the new price for a two or three year old car.

Thanks for that, but it doesnt explain why the older cars are are almost double the price in the uk.

Only looking earlier this week at UK cars secondhand Websites......... amazed by the prices but also what was said, appears in UK that many if not most 10 - 15 years old cars were sold under 'Spares or repair' those that did not come under this appeared the MOT was up within weeks, this applied to almost every make of car.

Labour here is cheap, so you do not see cars here For Sale with engine fault, gearbox fault, and the biggest killer in UK Rust.. Here most older cars have good bodywork, if there is a engine or gearbox fault then = cheap to put a Japanese unit in.. so you see many cars For Sale with different engines in, many Volvo's, BMW's etc, have Toyota/Lexus engines, Toyota and Nissan engines appear popular in other makes of cars..

cant remember in over 11 years here ever seeing a 2nd hand car For Sale with a faulty engine or gearbox, but seen 100's with different engines fitted.

[Sviss Geez]

I guess you haven't been in Thailand long... prices for late model used cars, especially under 1 million when new have come down a lot the past couple of years, compared to the days when sellers expected 90% of the new price for a two or three year old car.

Thanks for that, but it doesnt explain why the older cars are are almost double the price in the uk.

Cars in Thailand start off being much more expensive when new than in UK so that is obviously reflected in their used price.

[WhiteCadillac]

Used car prices are out of control here. The 100k rebate a few years back should lower the prices a lot, but for some reason the market hasn't adjusted yet.

So 500k car new, 100k rebate = real cost 400k. That car should go 2nd hand after 2 years no more than 300k, and after 5 no more than 200-250k. But they are still asking 300k+ for these cars althugh 5+ years! Sick!

I saw just now a 20 year old car (Isuzu Van) 2.8 have a ask price of 215k. What a joke. In the West that car would be max 40k baht.

If your plan is to own a car for 5+ years, buy a new car. If your plan is to have it less than that, rent it. You can get ones for 10-20k month easily, without the need to worry about maintanance, insurance, taxes or tires.

[WhiteCadillac]

I guess you haven't been in Thailand long... prices for late model used cars, especially under 1 million when new have come down a lot the past couple of years, compared to the days when sellers expected 90% of the new price for a two or three year old car.

Thanks for that, but it doesnt explain why the older cars are are almost double the price in the uk.

Cars in Thailand start off being much more expensive when new than in UK so that is obviously reflected in their used price.

Not true. Cars here start at 400k, and pick ups at 500k. Put that 100k rebate on them and you are clearly wrong. The cars just dont drop any value although they should.

[kkerry]

Used car prices are out of control here. The 100k rebate a few years back should lower the prices a lot, but for some reason the market hasn't adjusted yet.

So 500k car new, 100k rebate = real cost 400k. That car should go 2nd hand after 2 years no more than 300k, and after 5 no more than 200-250k. But they are still asking 300k+ for these cars althugh 5+ years! Sick!

With the 100k rebate you have to keep the car at least five years before you can sell it or otherwise give back the rebate if you sell early. The scheme started September 2011 from memory, and only for cars up to 1500cc

Edited May 1, 2015 by kkerry

[WhiteCadillac]

Used car prices are out of control here. The 100k rebate a few years back should lower the prices a lot, but for some reason the market hasn't adjusted yet.

So 500k car new, 100k rebate = real cost 400k. That car should go 2nd hand after 2 years no more than 300k, and after 5 no more than 200-250k. But they are still asking 300k+ for these cars althugh 5+ years! Sick!

With the 100k rebate you have to keep the car at least five years before you can sell it or otherwise give back the rebate if you sell early. The scheme started September 2011 from memory, and only for cars up to 1500cc

The 1500 cc limit was for passenger vehicles only, and pick ups didnt have that limit.

The market still failed to adjust, as there were plenty of 2008-2011 vehicles without the rebate, and their prices did not adjust at all, where they should have dropped a lot.

The market was flooded with new vehicles, with very little demand for the older cars. Natural reaction would have been that the old ones would have cheapened a ton, especially when families had 2 vehicles and could barely afford them. All these factors should have meant a big downward spiral for the 2nd hand car prices, but no.

[stevenl]

Used car prices are out of control here. The 100k rebate a few years back should lower the prices a lot, but for some reason the market hasn't adjusted yet.

So 500k car new, 100k rebate = real cost 400k. That car should go 2nd hand after 2 years no more than 300k, and after 5 no more than 200-250k. But they are still asking 300k+ for these cars althugh 5+ years! Sick!

I saw just now a 20 year old car (Isuzu Van) 2.8 have a ask price of 215k. What a joke. In the West that car would be max 40k baht.

If your plan is to own a car for 5+ years, buy a new car. If your plan is to have it less than that, rent it. You can get ones for 10-20k month easily, without the need to worry about maintanance, insurance, taxes or tires.

500 k car rebate would have been less than 100k rebate, more like 50k.

What is the basis of 'should' for your prices?

[JAS21]

Used car prices are out of control here. The 100k rebate a few years back should lower the prices a lot, but for some reason the market hasn't adjusted yet.

So 500k car new, 100k rebate = real cost 400k. That car should go 2nd hand after 2 years no more than 300k, and after 5 no more than 200-250k. But they are still asking 300k+ for these cars althugh 5+ years! Sick!

With the 100k rebate you have to keep the car at least five years before you can sell it or otherwise give back the rebate if you sell early. The scheme started September 2011 from memory, and only for cars up to 1500cc

The 1500 cc limit was for passenger vehicles only, and pick ups didnt have that limit.

The market still failed to adjust, as there were plenty of 2008-2011 vehicles without the rebate, and their prices did not adjust at all, where they should have dropped a lot.

The market was flooded with new vehicles, with very little demand for the older cars. Natural reaction would have been that the old ones would have cheapened a ton, especially when families had 2 vehicles and could barely afford them. All these factors should have meant a big downward spiral for the 2nd hand car prices, but no.

Well the 2nd hand price of my 1M Baht pick up (new in 2012) crashed compared with what it would have been valued at prior to the stupid rebate. However as you say after 3-4 years old they rate of price drop diminishes.