stubuzz Posted September 5, 2015 Share Posted September 5, 2015 I've found a car i want to buy, but my old car still has a some payments left. Can i add the existing finance onto a new loan, or does it have to paid off before taking out new finance? I would like to keep my cash for next year's visit back to the UK. Anybody done anything similar? Link to comment Share on other sites More sharing options...
stoneyboy Posted September 5, 2015 Share Posted September 5, 2015 Go and enquire where you would like to buy the new vehicle. If you fit their criteria they will come and value your current vehicle and adjust the finance accordingly for the new one paying off the remaining payments on the old one. Don't expect miracles they will offer you what they feel is necessary not what you may be expecting. Link to comment Share on other sites More sharing options...
thrilled Posted September 5, 2015 Share Posted September 5, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. Link to comment Share on other sites More sharing options...
stoneyboy Posted September 5, 2015 Share Posted September 5, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. Tell that to the millions of people worldwide who have mortgages Mr smart arse. Link to comment Share on other sites More sharing options...
steve187 Posted September 5, 2015 Share Posted September 5, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. an extremely informative and helpful post Link to comment Share on other sites More sharing options...
xen Posted September 5, 2015 Share Posted September 5, 2015 If you talk to your finance provider and they may extend your your current loan after all they will have extended their business and you will be paying the amount plus interest for much longer. . I also agree with Thrilled about examining what is a want is and what is a necessary . Cars usually are a bad investment unless they are desired by others who cannot determine for themselves what a want is and what a necessary is. The nature of the consumer economy. Link to comment Share on other sites More sharing options...
stubuzz Posted September 5, 2015 Author Share Posted September 5, 2015 Maybe my first post wasn't clear. I want to know if anyone hast "turned" a car on finance against another one. If this is not possible, i will pay the outstanding balance, but this will add an extra owner to the book, and buy the new one. Thank you for your concern and finance lessons, but the repayments are well within my means. Link to comment Share on other sites More sharing options...
realenglish1 Posted September 6, 2015 Share Posted September 6, 2015 Hey I paid off my VIos Took 5 years of payment of 10,000 baht per month It has 38,000 kilometes on it Drives like a new car I want a New Mazda but guess what My car is paid for I am not the slave to the bank on it anymore and drive it with no payments YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA So I just do not get it You have a few payments left but you WANT a new car so WANT to increase payments and be a slave to the bank for 5 to 7 years You do not want to OWN your car. I OWN my car free and clear So why would I get a new car unless the engine just dropped out of it ? Link to comment Share on other sites More sharing options...
henrymeier99 Posted September 6, 2015 Share Posted September 6, 2015 I have a car of 2003, really good condition. I do not have enough money for a new car, but I'm debt free. Paid car, paid house, no worries, no problems. Why pushing money in the ass of the banks to get from A to B. Most you pay the double or more than the original price, this is a really good business, for others, not for you. Link to comment Share on other sites More sharing options...
umbanda Posted September 6, 2015 Share Posted September 6, 2015 All depends if you have Equity or not in your present car financing. If you have Equity, you can sell the car to a private party, the seller will pay the loan balance and you will get any difference with the total price. With that cash, you may have enough for a down payment in a new car. If you do the deal in this way using your car in trade for a new one, the dealer will pay for your present car a lot less than selling privately. Link to comment Share on other sites More sharing options...
Sviss Geez Posted September 6, 2015 Share Posted September 6, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. I doubt that your lecture is what he WANTED either. What a p rick to make the assumption that you know what is the best thing for him. Interesting that you seem to know what his financial resources are regarding his ability to make payments. Link to comment Share on other sites More sharing options...
Sviss Geez Posted September 6, 2015 Share Posted September 6, 2015 Hey I paid off my VIos Took 5 years of payment of 10,000 baht per month It has 38,000 kilometes on it Drives like a new car I want a New Mazda but guess what My car is paid for I am not the slave to the bank on it anymore and drive it with no payments YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA So I just do not get it You have a few payments left but you WANT a new car so WANT to increase payments and be a slave to the bank for 5 to 7 years You do not want to OWN your car. I OWN my car free and clear So why would I get a new car unless the engine just dropped out of it ? You have to bear in mind, of course, that you are now the owner now of a five year old Vios (or is it a Vlos Took?). You are so lucky, the envy of the forum, no doubt. You also seem to forget that while you are slagging off the OP for financing a car and being a "slave to the bank" that is exactly what you did. So it was ok for you but anyone else that does the same thing is not thinking right? Hypocritical don't you think? What does "YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA" mean, realenglish1? Link to comment Share on other sites More sharing options...
bazza40 Posted September 6, 2015 Share Posted September 6, 2015 If you talk to your finance provider and they may extend your your current loan after all they will have extended their business and you will be paying the amount plus interest for much longer. . I also agree with Thrilled about examining what is a want is and what is a necessary . Cars usually are a bad investment unless they are desired by others who cannot determine for themselves what a want is and what a necessary is. The nature of the consumer economy. There are two ways to get the most out of a car purchase in financial terms. The first is to buy it new then run it right into the ground. The second is to buy a good brand with 50K - 80K on the odometer, when the bulk of the depreciation has already happened. In emotional/prestige terms, the OP wants a new car in which to look good. In financial terms, he is seeking to screw himself. His choice, we all do things which make no sense to others. Link to comment Share on other sites More sharing options...
stoneyboy Posted September 6, 2015 Share Posted September 6, 2015 I have a car of 2003, really good condition. I do not have enough money for a new car, but I'm debt free. Paid car, paid house, no worries, no problems. Why pushing money in the ass of the banks to get from A to B. Most you pay the double or more than the original price, this is a really good business, for others, not for you. Link to comment Share on other sites More sharing options...
Doc46 Posted September 6, 2015 Share Posted September 6, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. Tell that to the millions of people worldwide who have mortgages Mr smart arse. Trilled stepped on your toes hey? He maybe a smart arse but he is right,,If you can't take the truth ,,don't ask for it,,as you did,, Link to comment Share on other sites More sharing options...
Chongalulu Posted September 6, 2015 Share Posted September 6, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. an extremely informative and helpful post But a financially illiterate one without knowing all the facts. Notwithstanding that there may be a sound reason for changing the vehicle due to change of circumstances regarding suitably etc. if the dealer is offering rock bottom,or even 0%, finance then this may be a wise option. There is good debt and bad (as in unwise/expensive debt ) and very much depends on personal circumstances. Pay off Expensive ie high interest debt first.read moneysavingexpert.com for a full explanation. There is a UK current account (Santander 123) paying 3% interest so of you can borrow cheaper than that it's better to do that and earn greater interest in that account. Another example, I bought my car outright six months ago when I first arrived because I didn't have the finance option at the time. I got 47 baht to the £ but had I been able to finance it I would have been able to benefit from the significantly improved rate of 55+ baht now and enjoyed 3% interest by leaving it in my UK account.if as many think the baht will continue to weaken then financing and keeping more of your money in £ is the better option. So your real costs will be in the form of depreciation which I understand is a lot less here than UK. Do your sums but the adage " neither a borrower or a lender be" is a nonsensical old wives tale that doesn't bear scrutiny,it is much more complex than that. Link to comment Share on other sites More sharing options...
stoneyboy Posted September 6, 2015 Share Posted September 6, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. Tell that to the millions of people worldwide who have mortgages Mr smart arse. Trilled stepped on your toes hey? He maybe a smart arse but he is right,,If you can't take the truth ,,don't ask for it,,as you did,,And you clearly know nothing of modern living,you mean to say all these Thai people are running around in new cars which are already paid for,wakey wakey.Just because someone has to seek the help of the modern day banking system doesn't make someone who doesn't a better person. Let me guess you were born with a silver spoon in your mouth. It's funny as i remember every year at Christmas my mother would purchase a food and drink hamper paying a couple of quid a week over the year. Did we need it no but my mother wanted to do it for the love of her children,sometimes people do things not out of want for themselves but out of necessity for their loved ones,like putting a roof over their head,buying a car to take them to school etc. I trust you get the gist of things now. The opening poster came on here seeking advice about finance on a new car not for a lecture on how to manage his finances by Thaivisa members. If you have nothing to add regarding the OP don't contribute. Link to comment Share on other sites More sharing options...
Sutty Posted September 6, 2015 Share Posted September 6, 2015 OP NO POINT IN ASKING A PERFECTLY GOOD QUESTION ON HERE THERE ARE A FEW GOOD GUYS ON HERE BUT MORE A HOLES WHO ONLY SEEM TO HATE THAILAND AND ALL IT STANDS FOR BUT THEY CARRY ON LIVING HERE FOR SOME REASON BEST KNOWN TO THEY. My advise go with your head you know what you can afford and what you would like for old car. In the end if you stick with old car you still have a working vehicle. Link to comment Share on other sites More sharing options...
farangmick Posted September 6, 2015 Share Posted September 6, 2015 I bet the OP wishes he had never started this post. Never seen so much vitriol about cars. Here's my contribution. Bought my first new car seven years ago when I retired to Thailand out of the pension commutation that also paid for the land and house. No more money, so I'll keep the truck long term. Other farang I know chop in cars every 2-3 years and keep them on finance, But they have more disposable income. Me, I am happy that I no longer have a mortgage, overdraft, credit card bills or outstanding loans and that everything I have is paid for. (OK the land is the wife's). Link to comment Share on other sites More sharing options...
stubuzz Posted September 6, 2015 Author Share Posted September 6, 2015 Anyway, if anybody is interested, The tent will take the old car in part ex. The remaining finance will be paid off, by the tent, and the balance put towards a down payment on another car. For those of you worried about my reasons for financing a car , I am doing regular trips to BKK and doing it in a small car just isn't fun. Link to comment Share on other sites More sharing options...
rapom Posted September 6, 2015 Share Posted September 6, 2015 How does it feel to WANT.Thats why the world is in trouble.It's about need not want.1.If you finance the car more than likely you can't Afford it.2.why did you finance car number 1?The reason is you wanted it.3.Who say's after you finance the 2nd car you won't see A 3rd car you want. The best thing to do is forget the word WANT.Keep this car til you paid it off. The best thing keep this car for 10 years then buy the next car with cash that you'll have from not buying cars on loans and paying The interest every year. As far as your question some dealers ,banks will do the loan and buy your 1st car but your payments will be higher and you'll just Get in deeper debt and after awhile you won't be able to pay the loan cause it will be to high.Then they come and take this car that You WANT. Also, you forgot to tell him, you have a Charles Schwab account and all your atm fees are reimbursed. Link to comment Share on other sites More sharing options...
thrilled Posted September 6, 2015 Share Posted September 6, 2015 Rapom,you remember me.Hey to the OP I wasn't trying to put you down by no means.Sorry if I came accross that way. Link to comment Share on other sites More sharing options...
sead Posted September 6, 2015 Share Posted September 6, 2015 The OP can feel good that he maked alot of depressive, agitated farangs ventilate themself. When the bars close so early nowadays or when you are stuck in deep isaan with your wifes family it can be nice to have something to say.... Link to comment Share on other sites More sharing options...
Mudcrab Posted September 6, 2015 Share Posted September 6, 2015 If you talk to your finance provider and they may extend your your current loan after all they will have extended their business and you will be paying the amount plus interest for much longer. . I also agree with Thrilled about examining what is a want is and what is a necessary . Cars usually are a bad investment unless they are desired by others who cannot determine for themselves what a want is and what a necessary is. The nature of the consumer economy. There are two ways to get the most out of a car purchase in financial terms. The first is to buy it new then run it right into the ground. The second is to buy a good brand with 50K - 80K on the odometer, when the bulk of the depreciation has already happened. In emotional/prestige terms, the OP wants a new car in which to look good. In financial terms, he is seeking to screw himself. His choice, we all do things which make no sense to others. The second is to buy a good brand with 50K - 80K on the odometer, when the bulk of the depreciation has already happened. ?? in Thailand? Link to comment Share on other sites More sharing options...
casualbiker Posted September 7, 2015 Share Posted September 7, 2015 Anyway, if anybody is interested, The tent will take the old car in part ex. The remaining finance will be paid off, by the tent, and the balance put towards a down payment on another car. For those of you worried about my reasons for financing a car , I am doing regular trips to BKK and doing it in a small car just isn't fun. I think part of the problem was your first post. You seemed to imply that you wanted to KEEP the first car and also buy another car. Both financed. At least that's how I read it. If posters actually took the time to give as much information as possible then these things wouldn't happen.... Maybe!!! Link to comment Share on other sites More sharing options...
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