How Is It Every One's Got A New One..?

[The Thai Whisperer]

May be some one can give me some idea on the following…

In our small rural village, you cannot move for new Pick up’s every one seem’s to own one, Here’s my question… How can so many apparent ‘low income ‘

Farmers afford to buy new pick up’s..? My wife’s told me they must have purchased them on some sort of finance package..? When I asked her ok then how much do you think they are paying back every month ….? She said about 4,0000 – 5,0000 baht

per Month which I cannot believe . Can some one please give me some sort of idea how much realistically you have to pay back (I don’t know how long the finance period is for ..?) I seen mostly new Vigo and Dmax’s and Nissens

As I ride around in my 9 year old pick up it just makes me think ….?

TTW

[meadish_sweetball]

Quite a few do pay a lot per month, and are heavily indebted as a result - there are also high interest longterm payback schemes available. Money is also sort of communal as you may have noticed, so if the family has a child working in another part of Thailand or overseas, they will send money home.

[chaiyapoon]

Last year up in Isaan I too noticed a lot more new pickups about .I asked my friends and in nearly all cases the families had either a farang married into the family or had a son or daughter working overseas A very few were starting to get good returns on their rubber crops.

The problems start when to have big face with their friends and neighbours other villagers start buying the latest model and have to sell land or raise a deposit and then can't keep up with the payments and or running costs.There is massive debt in the countryside and buying pickups isn't helping at all.

[The Thai Whisperer]

Thank you MS, but I just can't see how my village neighbours , who are may be being paid

200 bhat a day and even with some family members sending them money every Month, can afford

what I think must be around 15,000 baht a month in repayments..?

any idea just what the payment range on a new pick up would be..?

TTW

[Neeranam]

You can get one for less than 10,000 a month.

[Thaddeus]

It's late.... I'm tired.... but I will do my best.

You will not find a field worker buying anything other than a bowl of noodles... the person that owns the field however will.

At the end of a successful harvest they have 'cash a plenty'.... so what do they do.... put it in the bank and then live off it when the money isn't coming in.... or buy a pick-up?

They put down a 50% deposit on the mill-stone of their choice with a promise to pay the rest over a fixed term, the interest is not very high as the dealership knows that they are going to get a hardly used vehicle back in a couple of months.

The repo-man is quite busy around these parts

[The Thai Whisperer]

Thanks .. but I thought the loss of face was every thing in Thailand..? what about when as

Thaddeus said ....The repo-man is quite busy around these parts , and he comes looking to take the new pick up back in full view of the neighbours..? some one told me once that Thais only live for to day, and this must be what they ment..?

I wonder what they think when they see my old pick up , as they pass me by in there brand new Red plated Vigo ....?

well ive had enough ... its time for me to get a new pick up too , so I am going to post another ... question

TTW

[Gary A]

You can buy a pretty nice pickup truck for maybe 550,000 baht. The down payment would be about 25 percent. That leaves a balance of 412,000. The interest is simple add on and many dealers offer less than 3 percent interest. with interest added that comes to 473,800 baht financed over 5 years is payments of 7,896 per month.

[Crossy]

Just bought a new Ford Ranger, 860k, 20% down then 48 months at 16k (all figures approximate) zero % finance (ends this month).

EDIT Finance arranged by the missus.

Edited October 28, 2006 by Crossy

[pistonpilot]

Thanks .. but I thought the loss of face was every thing in Thailand..? what about when as

Thaddeus said ....The repo-man is quite busy around these parts , and he comes looking to take the new pick up back in full view of the neighbours..? some one told me once that Thais only live for to day, and this must be what they ment..?

I wonder what they think when they see my old pick up , as they pass me by in there brand new Red plated Vigo ....?

well ive had enough ... its time for me to get a new pick up too , so I am going to post another ... question

TTW

Someone give Gary a doughnut. "Father" got himself into some debt and cannot afford to pay for his 550,000 baht Mitsubishi L200 pickup. He put 100,000 baht down almost 2 years ago and has a 72 month payment of 7500 baht.

I now have his pickup and have picked up the payments. I have no credit here so it worked out for "father" as his daughter (pregnant) is now driving around in a 6000 pound behemoth instead of a 200 pound Honda.

I will never ride the motorbike again. I get cudos for helping "father" and I get to drive the pickup.

What flavor doughnut do you like Gary?

PP

[phibunmike]

At the end of a successful harvest they have 'cash a plenty'.... so what do they do.... put it in the bank and then live off it when the money isn't coming in.... or buy a pick-up?

It seems embedded in the culture, doesn't it. Someone says "oh, that pickup is only 90,000". Cannot be you say. But they are only thinking of the down-payment, and never stop to think how much they will pay in total....