Buying a New Car

[Chongalulu]

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

You are right about this not being APR (or the interest you'd get on deposit in the bank) . To equate it to that ,the equation is a little complicated ,but the real rate is almost double the quoted amount. The reason being they are charging interest on the total amount borrowed over the full loan period which doesn't take into account that especially towards the end of the period you'll have paid most of the capital back but being charged interest on the full amount . Unless you know the person or the history of the second hand car it is a much bigger risk than in farang land so with the absurdity high secondhand prices I decided to buy new which I've never done in uk.

[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

You are right about this not being APR (or the interest you'd get on deposit in the bank) . To equate it to that ,the equation is a little complicated ,but the real rate is almost double the quoted amount. The reason being they are charging interest on the total amount borrowed over the full loan period which doesn't take into account that especially towards the end of the period you'll have paid most of the capital back but being charged interest on the full amount . Unless you know the person or the history of the second hand car it is a much bigger risk than in farang land so with the absurdity high secondhand prices I decided to buy new which I've never done in uk.

The other side of the argument is that if you pay it off early you can in many cases organise that they deduct the remaining interest.

[JaseTheBass]

Always buy new, but only ones that are made here in entirety, not rip-off stuff like Beemers & Mercs.

[seedy]

Flaming post removed

[Cook my sock]

A lot to be said for buying a new car, esp a Honda. If you get finance you'll be able to negotiate great deals on insurance which will negate some of that interest.

If I were buying this year, I'd try and wait for the new civic hatch 1.5 turbo. Its resale value will be rock solid.

[Gary A]

Interest on car loans is add on. You will be paying the same amount of money per month for interest until the final payment. Once in a while you can find a zero interest loan. That would be the way to go. If you can afford to pay 800,000 for a used car you should certainly be able to afford a new car with a full warranty. Buying a second hand car is like playing Russian Roulette. Cars are never the same after a major accident. Accidents don't show on dealer records.

[ardokano]

Interest on car loans is add on. You will be paying the same amount of money per month for interest until the final payment. Once in a while you can find a zero interest loan. That would be the way to go. If you can afford to pay 800,000 for a used car you should certainly be able to afford a new car with a full warranty. Buying a second hand car is like playing Russian Roulette. Cars are never the same after a major accident. Accidents don't show on dealer records.

to afford a new car with a full warranty.

I thought as well. before I bought a new Fportuner in Thailand few year ago..

Now I'm sure that it was not the best idea.

Better I bought Harrier or Crown even 5 year old ...

Edited May 30, 2016 by ardokano

[Nearlynam]

A lot to be said for buying a new car, esp a Honda. If you get finance you'll be able to negotiate great deals on insurance which will negate some of that interest.

If I were buying this year, I'd try and wait for the new civic hatch 1.5 turbo. Its resale value will be rock solid.

Any idea when this is coming?

[Cook my sock]

I've read it's def launching in Thailand. In the US it launches in the 3rd quarter of this year, so judging by the sedan launch gap it'll be out in LOS at the end of the year hopefully.

Edited May 30, 2016 by Cook my sock

[Ace of Pop]

They are popular in the USA.. look rather stylish too alongside Fords Jellymoulds...Dealer improved Mazdas also catch ones eye in that range, so do US prices.!!.. Dealers here never do an in house Limited Edition.

[Cook my sock]

This review of the sedan RS gives you a good idea how the hatch will be. It'll have virtually the same interior, with Apple CarPlay.

Maybe the sedan will ride better on its longer wheelbase but the hatch shd be a touch faster and more agile.

http://www.wheelsmag.com.au/reviews/1605/2016-honda-civic-rs-review/

Edited May 30, 2016 by Cook my sock

[Ace of Pop]

Honda told me they can do a real fancy upgrade of the dead black interior for 13 K..Tried the RS yesterday but the black I can't live with.its sure got superb power though,needs Mich rubber as do most Hondas.Il way for the 2door,it looks nicer to me

[Cook my sock]

The coupe is coming out in Thailand ?

[Ace of Pop]

The rumours say 50/50,,so they have no idea realy i recon ,much the same as turbo HRV.

[Cook my sock]

Then they would have to make it here, it's possible I guess

[Wiggy]

Honda told me they can do a real fancy upgrade of the dead black interior for 13 K..Tried the RS yesterday but the black I can't live with.its sure got superb power though,needs Mich rubber as do most Hondas.Il way for the 2door,it looks nicer to me

Any details of the interior upgrade, Ace? What does it entail? Thanks.

[Ace of Pop]

Doors n Seats, you can mix n match your personal leather preference.Takes 2 days max.

[Wiggy]

Doors n Seats, you can mix n match your personal leather preference.Takes 2 days max.

Thanks. Sounds interesting, and not too pricey.

[Lion777]

it`s not very good deal)

[prestburypark]

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"?

Getting on, nearly fifty? Last new car you will ever buy? You joking, right?

[JaseTheBass]

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"?

Getting on, nearly fifty? Last new car you will ever buy? You joking, right?

Could be. It's possible no one will own cars in 10 years time. We would just pay an automated car for the journey we use it for and it would then go off and be used by someone else.

[Cook my sock]

Pretty sure the HRV will get the 1.5 turbo for its midlife update. Probably end of next year.

[ardokano]

Doors n Seats, you can mix n match your personal leather preference.Takes 2 days max.

Wow . sounds good I guess it's

best deal in Thailand for sedan near 1m

near 8 sec and some personalisation..

Good looking car

well doing interior

a lot space for tall people

[dezy1801]

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?

i dont think many people here understand his posts. Edited June 6, 2016 by dezy1801

[Cook my sock]

My wife says new civics are having a major reliability issue but unfortunately not sure what the fault is. Possibly radiator related

[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..

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?

I don't understand most of this but thanks for the reply! Must be an English teacher then, right?

[Wiggy]

My wife says new civics are having a major reliability issue but unfortunately not sure what the fault is. Possibly radiator related

Do your or your wife have a source for this? I wouldn't mind reading up on it. Thanks. The only problem I found was on a site named Jalopnik, where some issues with the 2.0 model in the US regarding piston rings were mentioned. All other sites so far have between 4 and 5 star ratings for reliability. Still, Honda will put it right if there is an issue I'm sure of that.

[Cook my sock]

I think it's on the Facebook Thai HRV page and affects civics in Thailand. I don't have a link unfortunately

Edited June 6, 2016 by Cook my sock

[lostinisaan]

I think it's on the Facebook Thai HRV page and affects civics in Thailand. I don't have a link unfortunately

If anybody on this forum would rely on something that's written on a facebook page then the end of this world seems to be tomorrow.

M.M.2016