Buying a New Car

[Sawan Chan 7]

I'm just thinking about buying a new car.

What do you fellas think about the economics of buying a new car in Thailand compared to one that is say five years old?

If the interest is only 2.95% as it is with the new Honda civic, it seems to me to be wise getting a new one.

Perhaps a BMW with 0% interest.

I never bought a new car and wouldn't in my home country but I feel it makes sense here if the interest is so low or zero.

Maths had never been my strong point. Am I missing something obvious?

Also, any suggestions for a good value family car would be welcome. I have 2 teenage kids.

What about a 7 year old BMW X3? I saw one for sale for 800,000 baht. Would this be a good deal?

[ardokano]

Ist not interest

Its cost credit per year

in total.

Interest for( 2.95%) be near 6%.

SO it not low cost..

I do not know from what country you are bu For many coutry it HIGHT interest ..

sorry you compare BMW X3 with civic?

it DIFFERENT car..

PS

if want BMW and look low price and second hand..

Look for X1 2-3 year

can get little up 1 ml..

7 year bmw it nothing to say. can be killed and 300k on odo or 50k on ODO and used as grany driver ..

And look who is owner..

[lostinisaan]

Ist not interest

Its cost credit per year

in total.

Interest for( 2.95%) be near 6%.

SO it not low cost..

I do not know from what country you are bu For many coutry it HIGHT interest ..

sorry you compare BMW X3 with civic?

it DIFFERENT car..

PS

if want BMW and look low price and second hand..

Look for X1 2-3 year

can get little up 1 ml..

7 year bmw it nothing to say. can be killed and 300k on odo or 50k on ODO and used as grany driver ..

And look who is owner..

Or buy one in Germany and drive it to Thailand?

[curtklay]

I would go for the new car.

Buying a 5 year old car in Thailand is like buying a 20 year old car anywhere else.

[Slickrick]

I would go for the new car.

Buying a 5 year old car in Thailand is like buying a 20 year old car anywhere else.

I wouldn't say that. I just bought a 4 year old car that had 44,151 on the odom which was owned buy a lady. Everything on it is still new. There out there, just got to find them.

[johng]

Or buy one in Germany and drive it to Thailand?

No you can't do that that ! they charge silly amounts of tax on foreign vehicles and lots of hassles to get it registered...its just not worth it.

[paddyjoe41]

Yes it has only 000 on the od,you can find many nearly new with oo on the od,dont be fooled by that,just remember you are in Thailand.Buy a new one dont even consider second hand.

[Henryford]

Don't even consider second hand. Are you going to be sure about it's mileage, any loans outstanding, service history, who actually owns it. Can you read Thai. Get a new one with (some) peace of mind and easy repayments.

Edited May 28, 2016 by Henryford

[richard_smith237]

As with a second hand car anywhere you will take your chances.

There are some options to buy 'approved second hand cars' from dealerships which come with a few (3 months) warranty... this offers a little piece of mind.

Another option when buying second hand, agree with the owner that before any money changes hands you can take it to a garage and have it fully checked over. If you show you are serious about buying the car any owner who disagrees with this will flag alarm and you can walk away.

There are good second hand cars out there... All of my cars sold second hand have been in excellent condition, I'm sure there aren lots of good cars. Lets face it... as soon as a car is driven off the forecourt its second hand !!!... I don't see so many broken down cars on the streets...

Buying New: Simply offers better piece of mind and newer tech.

Its purely a personal choice... but I wouldn't believe anyone who says all second hand cars are duds... you just have to do your homework.

[Johnniey]

Don't even consider second hand. Are you going to be sure about it's mileage, any loans outstanding, service history, who actually owns it. Can you read Thai. Get a new one with (some) peace of mind and easy repayments.

Strange advice. I wonder if you are from Pattaya or another 'tourist' resort?

I've always bought second hand 8 vehicles, an never had any problems.

If there are any loans outstanding, they won't have the registration book.

Most foreigners I know with cars can read Thai.

[mortenaa]

You can get a 2nd hand BMW, like 2-3 years old. The price has dropped significantly, but service and the warranty is 5 - 6 years now, so that should give peace of mind for a while. ODO meter is correct, as all services are recorded both in the car and with BMW.

[aslimversgwm]

I've done both - a 4/5 yo Honda Jazz - super car for <450k, low mileage. No issues at all - mechanical or ownership wise, but had Thai bf with me to help with blue book change of ownership and it was a kosher dealership here in CM.

Now have a Ford Fiesta S, bought new - already had computer system pack-up, power steering and auto transmission issues/ replacements under their 3 year warranty + new battery and all new tyres - not under warranty! Done 71k kms in it and it'll be 5 years old in July. I still like it - am I nuts? A generally good, all round saloon car actually.

Bought it on a Tisco loan [finance arm of TMB] with low interest of 2.25% over 3 years - 11.2k a month. Car cost 680k+ new. I thought the terms quite reasonable actually but global interest rates are at all times low and I've grown up during long periods of very high int rates so perhaps I was deluded! Anyways - you pays yer money yer takes yer chances! Best wishes in whatever you decide.

[aslimversgwm]

I've done both - a 4/5 yo Honda Jazz - super car for <450k, low mileage. No issues at all - mechanical or ownership wise, but had Thai bf with me to help with blue book change of ownership and it was a kosher dealership here in CM.

Now have a Ford Fiesta S, bought new - already had computer system pack-up, power steering and auto transmission issues/ replacements under their 3 year warranty + new battery and all new tyres - not under warranty! Done 71k kms in it and it'll be 5 years old in July. I still like it - am I nuts? A generally good, all round saloon car actually.

Bought it on a Tisco loan [finance arm of TMB] with low interest of 2.25% over 3 years - 11.2k a month. Car cost 680k+ new. I thought the terms quite reasonable actually but global interest rates are at all times low and I've grown up during long periods of very high int rates so perhaps I was deluded! Anyways - you pays yer money yer takes yer chances! Best wishes in whatever you decide.

Forgot an important bit of info: I got 320k from Ford for my Honda Jazz - then 5/6 years old with 45k+ on the clock!

[pogal]

I would go for the new car.

Buying a 5 year old car in Thailand is like buying a 20 year old car anywhere else.

Agree 100%!

The roads and driving culture of Thailand can severely degrade cars. Second hand cars in Thailand are quite pricey anyway so new is the only way to go!

[bizader]

If you are considering spending 800k on a 7 yr old X3, the wise decision in Thailand would be use the 800k and may be top up a bit to buy a new car. You will get some good options in the 800-1m price range..civic, hrv, cx3, subaru xv, ecosport. If you still prefer to buy second hand, better buy second hand japanese brands, which will be easier and cheaper to maintain here

[anglesea]

I bought a second hand 5 year old Ford Focus from a Thai lady who wanted to buy a new car. It cost be 290,000 bart. I have had it 2 years so far and it has gone well with no breakdowns and regular service. Will need new tyres soon. A new car cost around 900,000 to 1.2 million bart for an ordinary car (eg Toyota, Mazda etc). I am so far ahead financially compared to a new car.

[CHRISTIANa9]

How old are you sawan? If u can afford it, try a new car at least once a life tym

[Sawan Chan 7]

Ist not interest

Its cost credit per year

in total.

Interest for( 2.95%) be near 6%.

SO it not low cost..

I do not know from what country you are bu For many coutry it HIGHT interest ..

sorry you compare BMW X3 with civic?

it DIFFERENT car..

PS

if want BMW and look low price and second hand..

Look for X1 2-3 year

can get little up 1 ml..

7 year bmw it nothing to say. can be killed and 300k on odo or 50k on ODO and used as grany driver ..

And look who is owner..

I don't understand most of this but thanks for the reply!

You mean it is actually 6% per year?

A 2-3 y/o BMW X1 is an option.

"7 year bmw it nothing to say. can be killed and 300k on odo or 50k on ODO and used as grany driver ..

And look who is owner.." what do you mean?

[sledpull]

I wanted to go for a big truck for safety concerns.

I attempted to meet with used car sellers but appointments to look at cars never materialized for one reason or another. Also heard negatives of buying a used car and benefits of buying a new truck from a tax stand point.

Stopped at all of the major new car dealers in Hua Hin and Pranburi to get price options and check interest of sales person in wanting to assist me.

Found a great salesperson at the Chevy dealership in Hua Hin. Their service appears very good so far. The young daughter of the owner, a CPA is bilingual in English

Bought a Colorado High Country 4 wheel drive.

Edited May 28, 2016 by sledpull

[Sawan Chan 7]

How old are you sawan? If u can afford it, try a new car at least once a life tym

Actually I am getting on - nearly 50 so was thinking that a new car could be the last one I ever buy, apart from for my kids.

So 2.95% is quite high?

Does anyone know the interest rates if buying a second hand car from a "tent"?

[khunPer]

I have had both a used car, and new car in Thailand.

Firstly I would not buy anything on credit, but keep it to a level I can afford to pay cash for.

Second hand cars are often priced very high in Thailand – presumably due to low labor costs in maintenance – making a new car worth considering; however you may find a fair priced "dream car", like I did.

I think that buying a second hand car in Thailand is like buying a second hand car anywhere, check as much as you can and have a good feeling with seller/shop – don't expect to be able to return for any kind of complain.

When selling a used car you can expect to get a higher price, than a similar would be in your home country (may be depending where you come from).

For you own safety, make sure you can get a full insurance (driver + passengers) on the second hand car, so you cover yourself as much as possible in case of accident.

I was very happy with my second hand car, had it for some 9 years, and got 40% of my initial investment back when I sold it.

I bought a new Toyota MPV (very family friendly), reasonable priced, and includes first years full insurance, and free service as specified in the warranty (X years and/or Y kilometers).

The shop took care of everything with registration, and it was possible to bargain a bit for extras.

2½ year after I'm still very satisfied with both car and service.

Wish you good luck with your next car...

[ChesneyHawkes]

It's usually difficult to understand Ardokano, I normally have trouble following what he's saying.

For me the X3 is a no no. Aside from the fact there's a new model coming soon, once you're outside of BSI and warranty it gets stupidly expensive to maintain.

General rule before taking car condition into consideration is are you paying cash upfront or financing the purchase? If cash second hand is ok, but if on finance buying new is the only way to go.

The interest rate is so high on a second hand car that after the loan period it could end up costing the same as a new car equivalent. Depreciation is lower than compared to the west so if you are offered a car of reasonable age and condition at a big reduction from the original selling price alarm bells should be ringing.

Example 320d Sport/Luxury currently 2.7m with 5years 0%

If offered a 2year old 2nd hand 30k mileage one with 3 years BSI left, I'd say fair price is 1.9-2.1 depending on desperation of seller. interest rate over 5 years will be at least 20% so you can add 400k+ to that amount.

If they offer it for 1.5m walk away.

Hope that helps

[bt2017]

Buying a used car can be advantageous financially and there are some good deals out there. I bought a 3 year old Toyota Yaris with 21,000klms.from Toyota Sure which had a full I year manufacturers warranty and they were happy to fix any problems which ran to a new window winder motor and 2 new front suspension struts as one proved faulty

I still own the car and have had absolutely zero problems it's now done 47,000k's most important is regular servicing especially oil changes. BMW's are a nice car but even if you buy used at a reasonable price you will always be paying a high price for parts and servicing as it's an expensive vehicle.

Best of luck.

[Fairynuff]

"Firstly I would not buy anything on credit, but keep it to a level I can afford to pay cash for."

Why pay cash when some dealers are offering 0%. Bought my Honda on 0% for 4 years and my cash has been earning interest for 4 years

[casualbiker]

How old are you sawan? If u can afford it, try a new car at least once a life tym

Actually I am getting on - nearly 50 so was thinking that a new car could be the last one I ever buy, apart from for my kids.

So 2.95% is quite high?

Does anyone know the interest rates if buying a second hand car from a "tent"?

2.95% is reasonable. The others are trying to tell you that is the yearly interest not APR. So basically you have the total car cost less the deposit. Say 500k financed over 3 years. So 2.95% for each year. As far as I'm aware it's not a reducing rate. So interest would be 14,750baht per year x by number of years (3) = 44,250b interest

[casualbiker]

"Firstly I would not buy anything on credit, but keep it to a level I can afford to pay cash for."

Why pay cash when some dealers are offering 0%. Bought my Honda on 0% for 4 years and my cash has been earning interest for 4 years

agreed

[kannot]

I would go for the new car.

Buying a 5 year old car in Thailand is like buying a 20 year old car anywhere else.

and its history could be very dubious

[ardokano]

I would go for the new car.

Buying a 5 year old car in Thailand is like buying a 20 year old car anywhere else.

Yes and No.

Thailand many owner not realy takecare about car. But Lux car can find in good condotion.

I just few week ago looked CLS even 11 year. But in great condition. On ODO even not have 80k.

Its must be from first owner car, whe get big chance get good condition car.

[ardokano]

better buy second hand japanese brands, which will be easier and cheaper to maintain here

You have experience?

My friend had z350. I am in past have TT

I cant say japan car cheapest cost.

Another two friend had 330 and i know price for some repair for G35.

I am even not talk about price car japan some times even double price.

[Sawan Chan 7]

I have had both a used car, and new car in Thailand.

Firstly I would not buy anything on credit, but keep it to a level I can afford to pay cash for.

Second hand cars are often priced very high in Thailand – presumably due to low labor costs in maintenance – making a new car worth considering; however you may find a fair priced "dream car", like I did.

I think that buying a second hand car in Thailand is like buying a second hand car anywhere, check as much as you can and have a good feeling with seller/shop – don't expect to be able to return for any kind of complain.

When selling a used car you can expect to get a higher price, than a similar would be in your home country (may be depending where you come from).

For you own safety, make sure you can get a full insurance (driver + passengers) on the second hand car, so you cover yourself as much as possible in case of accident.

I was very happy with my second hand car, had it for some 9 years, and got 40% of my initial investment back when I sold it.

I bought a new Toyota MPV (very family friendly), reasonable priced, and includes first years full insurance, and free service as specified in the warranty (X years and/or Y kilometers).

The shop took care of everything with registration, and it was possible to bargain a bit for extras.

2½ year after I'm still very satisfied with both car and service.

Wish you good luck with your next car...

Thanks, that is very useful.