riclag Posted March 30, 2017 Share Posted March 30, 2017 Is it possible to buy repossessed cars at banks or dealerships here ? Link to comment Share on other sites More sharing options...
pianoman Posted March 30, 2017 Share Posted March 30, 2017 It is my understanding that most banks will not loan money for car purchases using the cars as the security for the loans... They seem to want Land rather than the vehicles, so they do not have to deal with selling Repo'd cars... Pianoman Link to comment Share on other sites More sharing options...
riclag Posted March 30, 2017 Author Share Posted March 30, 2017 (edited) 43 minutes ago, pianoman said: It is my understanding that most banks will not loan money for car purchases using the cars as the security for the loans... They seem to want Land rather than the vehicles, so they do not have to deal with selling Repo'd cars... Pianoman So what happens to the cars when they can't make the payments. Somebody must confiscate them ? I'm more inclined to buy one of these? Edited March 30, 2017 by riclag Link to comment Share on other sites More sharing options...
TheFishman1 Posted March 30, 2017 Share Posted March 30, 2017 Go to car auction I bought a really nice car still under factory warranty for 306000 bht Link to comment Share on other sites More sharing options...
The Deerhunter Posted March 30, 2017 Share Posted March 30, 2017 (edited) 3 hours ago, riclag said: So what happens to the cars when they can't make the payments. Somebody must confiscate them ? I'm more inclined to buy one of these? If the. creditor takes the land and house for the debt the debtor will need and will still have the car to live in. Yes there are auctions and also hundreds of thousands of used cars and trucks spread around the thounds (tens of thousands????) of brand new car yards that have sprung up all over the kingdom over the last 3 to 5 years, coinciding perhaps with the fallout of Yinglucks cheap car finance bribe. Several folk in my family have to borrow the principal from anywhere they can every year to pay it back in full and reborrow it again 2-4 days later. Then rush back to the loan shark or rich auntie to give the money back again. Repeat next year.!!!! Edited March 30, 2017 by The Deerhunter Link to comment Share on other sites More sharing options...
ResandePohm Posted March 30, 2017 Share Posted March 30, 2017 4 hours ago, riclag said: So what happens to the cars when they can't make the payments. Somebody must confiscate them ? I'm more inclined to buy one of these? I tried to do this a couple of years ago. When repossessed they are sold at auction. However the auction seemed to be rigged by prices being agreed and fixed before hand between the auctioneer and car dealers. Doesn't matter what you bid a dealer will out bid you even if the price is more than the car is worth. If you want a repossessed car try asking a dealer. Link to comment Share on other sites More sharing options...
riclag Posted March 30, 2017 Author Share Posted March 30, 2017 1 hour ago, ResandePohm said: I tried to do this a couple of years ago. When repossessed they are sold at auction. However the auction seemed to be rigged by prices being agreed and fixed before hand between the auctioneer and car dealers. Doesn't matter what you bid a dealer will out bid you even if the price is more than the car is worth. If you want a repossessed car try asking a dealer. Thanks I'll try this.I don't want to spend 600k or more for a new car .I won't go to a auction either.I ll have to wait to get my international license first to avoid the training class and written test though .my states license wasn't good enough Link to comment Share on other sites More sharing options...
Wake Up Posted March 30, 2017 Share Posted March 30, 2017 2 hours ago, The Deerhunter said: If the. creditor takes the land and house for the debt the debtor will need and will still have the car to live in. Yes there are auctions and also hundreds of thousands of used cars and trucks spread around the thounds (tens of thousands????) of brand new car yards that have sprung up all over the kingdom over the last 3 to 5 years, coinciding perhaps with the fallout of Yinglucks cheap car finance bribe. Several folk in my family have to borrow the principal from anywhere they can every year to pay it back in full and reborrow it again 2-4 days later. Then rush back to the loan shark or rich auntie to give the money back again. Repeat next year.!!!! Are you saying they just pay the interest every year and reborrow the principal? If so they will never own the car. If not true please explain. The reason I am curious is I know an Issan girl who has a car and nothing else but she is always out of money and blames her car loan. She was one of the people who bought a car thorough the government program a few years ago. Link to comment Share on other sites More sharing options...
ujayujay Posted March 30, 2017 Share Posted March 30, 2017 Repo Cars you will find by Toyota sure. Honda, Nissan and other Brand Cars are sold by her Dealers as used Cars, mostly with warranty, but not really cheap. Dont try Auctions; many opaque Deals between Auctioneer and Cardealer. Link to comment Share on other sites More sharing options...
sinbin Posted March 31, 2017 Share Posted March 31, 2017 Anyone buying a second hand car here must be a newby. Link to comment Share on other sites More sharing options...
Pomthai Posted March 31, 2017 Share Posted March 31, 2017 7 minutes ago, sinbin said: Anyone buying a second hand car here must be a newby. Been here since 2004 this time around. On our second used car now. No issues, saved me about 700,000 baht in total buying cars between 1 and 2 years old. Manufacturers warranty honored up to the three year mark on both. Link to comment Share on other sites More sharing options...
johng Posted March 31, 2017 Share Posted March 31, 2017 Anyone buying a second hand car here must be a newby. Second hand cars hold their value much better here than in "developed" countries where it costs an arm and leg in service /maintenance ,tax and insurance, fuel and traffic fines etc.No salt on the roads during the snowy Thai winters leads to less rust.As long as they have the blue book and actually move the price never seems to drop below about 35,000 baht, even for some real old bangers that you could buy in England for 2,500 baht ! Yinglucks new car scheme did have an effect in lowering the price of newer used cars ,I think that's a good thing to have a more affordable means of transportation for Thai families instead of all 5 on a motorcycle. Link to comment Share on other sites More sharing options...
johng Posted March 31, 2017 Share Posted March 31, 2017 I'm on my 3rd used car in 17 years total for all 3 160,000 baht :) Link to comment Share on other sites More sharing options...
bazza73 Posted March 31, 2017 Share Posted March 31, 2017 4 hours ago, sinbin said: Anyone buying a second hand car here must be a newby. From the responses thus far, I'd say that premise is incorrect. I prefer to buy cars that have been owned by falangs, because their service history is less problematic.Falangs also seem to have a more realistic idea of the vehicles' value relative to its age and odometer. Buying a repossessed car almost guarantees it was owned by a Thai. There may be some bargains out there; however, the odds are pretty good a repo will have been abused. Link to comment Share on other sites More sharing options...
CGW Posted March 31, 2017 Share Posted March 31, 2017 5 hours ago, sinbin said: Anyone buying a second hand car here must be a newby. Broad statement! though I understand where you are coming from, would I buy a ten year old truck from Somchai with no service history - give me a while to think about that! - Maybe not.... Would I buy a 2 year Merc?BMW/Top line Jap car with full service history - Yes, cars are a lot more bullet proof than they used to be! problem with the repo's is you can guarantee they never had them correctly serviced as they wouldn't have had the spare money! Link to comment Share on other sites More sharing options...
sinbin Posted March 31, 2017 Share Posted March 31, 2017 4 hours ago, johng said: I'm on my 3rd used car in 17 years total for all 3 160,000 baht :) And that says what? Link to comment Share on other sites More sharing options...
sinbin Posted March 31, 2017 Share Posted March 31, 2017 4 hours ago, johng said: Second hand cars hold their value much better here Thais always ask too much for what they sell. Land is a good example. They're dreamers. Link to comment Share on other sites More sharing options...
Lamkyong Posted March 31, 2017 Share Posted March 31, 2017 On 3/30/2017 at 6:22 PM, riclag said: Thanks I'll try this.I don't want to spend 600k or more for a new car .I won't go to a auction either.I ll have to wait to get my international license first to avoid the training class and written test though .my states license wasn't good enough why do you desire to avoid the Thai driving test if somchai can pass surely you can unless you are a worse driver than the average Thai driver i find that hard to believe but their again i dont know your driving ability Link to comment Share on other sites More sharing options...
johng Posted March 31, 2017 Share Posted March 31, 2017 And that says what?It says you can have a used car/s for 17 years and only pay 160,000 baht.If you want to buy brand new for 500,000 ++++ baht then "up to you" Link to comment Share on other sites More sharing options...
whaleboneman Posted April 1, 2017 Share Posted April 1, 2017 12 hours ago, sinbin said: And that says what? It says your statement is incorrect. He's not a newbie and he buys used cars. Link to comment Share on other sites More sharing options...
riclag Posted April 1, 2017 Author Share Posted April 1, 2017 22 hours ago, johng said: I'm on my 3rd used car in 17 years total for all 3 160,000 baht :) Where have you purchased these from ?used car lot? Link to comment Share on other sites More sharing options...
riclag Posted April 1, 2017 Author Share Posted April 1, 2017 16 hours ago, Lamkyong said: why do you desire to avoid the Thai driving test if somchai can pass surely you can unless you are a worse driver than the average Thai driver i find that hard to believe but their again i dont know your driving ability 5 hour instruction class in Thai, 100 question computer test .If I can avoid that by just obtaining a IDP its a no brainer Link to comment Share on other sites More sharing options...
johng Posted April 1, 2017 Share Posted April 1, 2017 7 minutes ago, riclag said: Where have you purchased these from 2 from a used car lot and 1 from a private seller Link to comment Share on other sites More sharing options...
Lamkyong Posted April 1, 2017 Share Posted April 1, 2017 4 minutes ago, riclag said: 5 hour instruction class in Thai, 100 question computer test .If I can avoid that by just obtaining a IDP its a no brainer no brainer Link to comment Share on other sites More sharing options...
DILLIGAD Posted April 1, 2017 Share Posted April 1, 2017 5 hour instruction class in Thai, 100 question computer test .If I can avoid that by just obtaining a IDP its a no brainer But an IDP only lasts a year, right?Can you still get decent insurance without a DL?Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
ajarngreg Posted April 1, 2017 Share Posted April 1, 2017 53 minutes ago, DILLIGAD said: But an IDP only lasts a year, right? Can you still get decent insurance without a DL? Sent from my iPhone using Tapatalk I can't believe that people are able to make it to Thailand, but can't even pass a simple test. The guy seems to have some "reading difficulties?" The questions are in English not in Tinglish. If an accident happens, they usually want to see a Thai drivers license, even if an IDP is okay by law. If he can't read in English he can take somebody as an adviser. How much do you take an hour? Link to comment Share on other sites More sharing options...
Hereinthailand Posted April 1, 2017 Share Posted April 1, 2017 US license, no test for me, the only problem was they didnt have info for my license classification (car.motorcycle,truck) went home downloaded my states driving license classification chart and showed them, no problem licensed issued. Link to comment Share on other sites More sharing options...
lassebasse Posted April 1, 2017 Share Posted April 1, 2017 Kiatnakin Bank are holding car auctions in Udon Thani at least once every month. They are on the west side of the ringroad. http://www.kiatnakin.co.th/car-auction.php#top Link to comment Share on other sites More sharing options...
The Deerhunter Posted April 1, 2017 Share Posted April 1, 2017 On 30/03/2017 at 7:04 PM, Wake Up said: Are you saying they just pay the interest every year and reborrow the principal? If so they will never own the car. If not true please explain. The reason I am curious is I know an Issan girl who has a car and nothing else but she is always out of money and blames her car loan. She was one of the people who bought a car thorough the government program a few years ago. Yes many Thais have got loans that they renew each year, just paying 12 months interest and renewing the loan after paying it off for say 2-3 days with further borrowed money. Most have lodged property documents worth many times the loan value. They intend to pay it off when they win Lotto. Sad, eh? Your girl may be paying the car off. Probably one of a minority. There are about 6 car sales display places on.the road out to our village in about 18km. None of the car yards are more than 5 years old. No names or phone numbers even on the yards. Just "sale" cards on the windscreens. No obvious prices. 10 to 40 cars each yard. Did a big drive round the north and north east 18 months ago. Saw hundreds of these yards everywhere. Link to comment Share on other sites More sharing options...
johng Posted April 1, 2017 Share Posted April 1, 2017 The guy seems to have some "reading difficulties?" The questions are in English not in Tinglish.Some of the questions/answers on theory test don't make any sense in English or Tinglish...they might make sense in Thai but whoever translatedgot some of it wrong...any and everyone reading in English will have some degree of difficulty with some of the questions. Link to comment Share on other sites More sharing options...
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