Investing in a new car, advice needed

[lkn]

Earlier this year I was at the Bangkok motor show where a cute sales girl showed me the new Kia Optima luxury car.

It is only 1,200,000 baht and I have always wanted to have my own car so I am considering buying it but have a few questions.

I hear a lot about high prices and as I may grow tired of Thailand in 5-10 years, I may not need the car at that time. Do you think I can sell it for at least what I paid plus inflation?

Also, the nice sales girl suggested that if I am not staying in Thailand all year round, I can easily rent out the car with a good profit. This made me think that I should actually invest in two cars so that one of them can pay for the other.

But as my budget is limited, I am thinking to find a cheaper car than the luxurious Kia to invest in, any advice?

Edited August 27, 2016 by lkn

[Crossy]

A car is never an investment. Period. (OK, unless it's a rare classic)

 

Cars do hold their value here better than in the West, but don't expect to get anything like your outlay plus inflation even after 1 year let alone 5 or 10.

 

Let's move this to Motoring for directed advice.

 

 

 

 

[Don Mega]

sell it in 5 to 10 years time for the original purchase price plus inflation, sure you can. Everyone does.

[chiang mai]

Shakes head in amazement!

[DipStick]

I understand that a new car will depreciate by 30% in the first year, then possibly 10% per year there after

[lkn]

1 hour ago, Crossy said:

Let's move this to Motoring for directed advice.

 

I think real estate forum would be better, as that’s where I got my idea from… 

[Don Mega]

2 minutes ago, lkn said:

 

I think real estate forum would be better, as that’s where I got my idea from… 

sell it in 5 to 10 years time for the original purchase price plus inflation, sure you can. Everyone does.

[topt]

53 minutes ago, DipStick said:

I understand that a new car will depreciate by 30% in the first year, then possibly 10% per year there after

Based on what - western market experience or what someone told you?

Do you have any Thai experience of buying or selling motors.............?

[DipStick]

To be honest, when I bought cars in Singapore, Hong Kong, Manila, I only bought second hand, in Thailand my employing company gave me a car,, later in Thailand I.e three years ago I bought another second hand SUV from a TV member, who due to cancer was forced to repatriate back to the uk, he told me what he was offered for this nice SUV, which he said was the now market price . The car was well looked after and in pristine condition and to me the market price was laughable, and because of his illness I paid him 15% more than he asked and NEVER REGRETTED AT ALL.

the only two new cars I have bought was in China one BMW X6 and a Hyundai SUV and yes they have depreciated as expected.

if you actually own a car from new in Thailand take it to one of the second hand car merchants which are usual under tent like affairs and see how much they will offer you. That way one of us will be proven wrong won't we ?

 

[Lefty]

If you plan to resell there are only two choices -Honda and Toyota which depreciate the least and have a good demand for a used car.

Lefty

[malt25]

1 hour ago, lkn said:

 

I think real estate forum would be better, as that’s where I got my idea from… 

How about the medical forum. Might be a bit more appropriate.

[1FinickyOne]

1 hour ago, lkn said:

 

I think real estate forum would be better, as that’s where I got my idea from… 

 

Aha.. A wind-up car post... cute... 

[rijit]

For the reasons lefty said and also the are unbelievably reliable stick to japanese with honda and toyota at the top of the pile.

[williamgeorgeallen]

have you ever owned a car before? buying 2 cars and using the capital appreciation from one to pay for the other? anyway most insurance companies devalue a car by 10% per year but it is probably a bit more of the first couple years. this is one of the weirder post i have read here.

[umbanda]

To buy a new car for investment is like to marry a bar girl for love.... Insane!

[JacChang]

A new car is a great investment. You get to receive dividends every month, and every year you can set up a meet up where people drive the same car as you do. I think it's called an annual general meeting. You discuss how to increase the return on capital of your cars and how putting stickers on the paint can increase your horsepower.

[grumbleweed]

Invest in a car?

"Sell for what I paid plus inflation" 

"Also the nice sales girl said... " (She didn't see you coming did she?) 

Call me psychic but I would hazard a guess that rocket science isn't a hobby of yours. Unless of course this is a wind up. No one could be this dumb... could they?

[SOUTHERNSTAR]

3 hours ago, Crossy said:

A car is never an investment. Period. (OK, unless it's a rare classic)

 

Cars do hold their value here better than in the West, but don't expect to get anything like your outlay plus inflation even after 1 year let alone 5 or 10.

 

Let's move this to Motoring for directed advice.

 

 

 

 

Lets move it to the loony bin.

[cruisemonkey]

The OP is either a troll or the most naive person in the world.

[williamgeorgeallen]

4 minutes ago, cruisemonkey said:

The OP is either a troll or the most naive person in the world.

maybe his bargirl told him it was a good investment as long as it is in her name, like the house he is looking at buying.

[Naam]

3 hours ago, chiang mai said:

Shakes head in amazement!

[DSJPC]

In the first place, a new car is definitely not an investment!...to think that in 5-10 years you can sell it for the original price plus interest is ludicrous!!!...and to think that two cars will double your investment is insane...

 

I got some desert land near El Paso to sell you...a super investment...pls phone me (collect!)...

[Crossy]

41 minutes ago, SOUTHERNSTAR said:

Lets move it to the loony bin.

 

Health it is then

 

My spider-sense is tingling, this could, just possibly, be a troll!

 

"Like" if you agree

 

[dotpoom]

Listen, not sure if your having a laugh with us or what but realize this.......5 minutes after you buy a car it has lost it's value...why?....when you bought it it was new, when you drive out the door it is second hand.

[AlexRRR]

What sort of logic is that?

 

If your considering a Kia you got no idea of cars, and to expect to keep it for 10 years and get what you paid for it my god.....mate give up.....

 

Kia is a brand that is only just beginning to make inroads in OZ, me id steer clear off, much better brands around, if you must buy a car stick to local manufactured and preferably Japanese if you have deep pockets which you havent go German, meanwhile dont listen to salespeople at least in OZ you could take them to task over bad advice there is no comeback there.

 

And your not a rental company so dont even bother with what you wrote you would end up loosing big time.

[MANFROMBOCA]

you cant be serious  have you ever owned a car before  your money back plus inflation,,, a better investment is the brooklyn bridge its repalcement value goes up every year. my sons the broker for it if your interested

[csabo]

It's impossible to invest in a new car. It's an oxymoronic statement.

[seedy]

Troll posts removed

[Naam]

2 hours ago, MANFROMBOCA said:

you cant be serious  have you ever owned a car before  your money back plus inflation,,

 

yes i did, twice. needless to say both were vintage cars.

[bazza40]

Korean cars such as the Kia Optima have a major disadvantage compared to the Japanese distributors. To save money, they hold stock of stuff such as panels in Korea. So if you prang the car, you have a long wait until the replacement part arrives.

 

Evidently the pretty girl forgot to mention this to the OP.