2nd hand car/truck prices

Post by **Irish Alan** » November 19, 2007, 3:38 pm

Anybody contemplating buying a second-hand truck (like I am or was) might reconsider especially if you want long-term finance. I was thinking of paying a minimum deposit spreading the payments to possibly 6 years.

It seems amazing that dealers will offer finance on ten-year-old cars and trucks (or older) over 5 years. I’m not sure what the interest rates would be for the dealers on second-hand vehicles but with interest rates as low as 1.79% and below (0% over 3 years for Mazda) second-hand has lost its appeal.

Most dealers seem to look for a minimum deposit of 15% and finance over 6 years as maximum but Mazda will take 5% deposit and stretch the repayments to 7 years if you so wish.

Buy a Mitsubishi Triton Single Cab 2.5L over 6 years (cash price: 639,000 Baht) with 15% down and the APR is 4.80%. Monthly repayments: 9,714 Baht.

Buy a Nissan Navara individual Cab 2.5L over 6 years (cash price: 629,000 Baht) with 15% down and the APR is 4.20%. Monthly repayments: 9,297 Baht.

Buy a Mazda BT 50 2.5L over 6 years (cash price: 632,900 Baht) with 10% down and the APR is 1.79%. Monthly repayments: 8,761 Baht.

I mention APR though on the financing sheets it just lists a percentage rate… I presume this really is APR as opposed to flat rate interest right?

P.S. I’m warming to that Mazda more and more by the day...

Post by **Maligator** » November 19, 2007, 11:24 pm

Sure looks freaky with the steering wheel on the other side....

Post by **Irish Alan** » November 20, 2007, 12:25 pm

That is why I posted the right-hand drive... For British and Irish it is on the correct side...

Post by **Irish Alan** » March 5, 2008, 3:51 am

I want to go to the Lan Nissa (sp.) second-hand car dealer for a look around and a lady that works near my g/f is very keen to accompany me. It seems if I buy there she will get a commission from the sale. As car rental is her business I can understand this.

However as my g/f is not this ladies number 1 fan she does not want me to go with her but take her friend instead. My g/f's English is limited so it is a toss of a coin between the 2 as I need a good English speaker for haggling and explaining documentation details etc...

My g/f says if I go with the old bird she (let's call her Sawt-Lu-Sawt-Hen) gets all the commission but if I go with my g/f's friend (Noi) she will get 2,000 Baht and split this 50/50 with my g/f.

I just thought it an interesting phenomenon that the used car dealership gives commission to ANY Thai person for introducing a customer.

Post by **Aardvark** » March 5, 2008, 4:43 pm

My wife speaks perfect English and is willing to introduce anybody for Money

We arrive on the 3rd of April

Post by **handsome-Dane** » March 5, 2008, 5:23 pm

I want a 2nd hand Ferrari.

In my eyes never buy 2nd hand. always new and in cash.

Post by **aznyron** » March 5, 2008, 10:23 pm

in the USA the steering is on the left I got use to driving on the right side in thailand
now I think I would have train my brain all over again if I went back to USA
how much for the MAZDA

Post by **Irish Alan** » March 6, 2008, 12:05 am

handsome-Dane wrote:In my eyes never buy 2nd hand. always new and in cash.

No and No.

aznyron wrote:how much for the MAZDA

Cash price: 632,900 Baht and with 10% down (APR is 1.79%) monthly repayments: 8,761 Baht.

Post by **beer monkey** » March 6, 2008, 12:11 am

I think nyazron meant to 'buy' his BT-50 mazda if he returned to the states IA.
make him an offer he can't refuse.

Post by **Irish Alan** » March 6, 2008, 12:24 am

beer monkey wrote:I think nyazron meant to 'buy' his BT-50 mazda if he returned to the states IA. make him an offer he can't refuse.

Oh...

Would need to see it. And would want to make payments on the drip...

Post by **aznyron** » March 6, 2008, 1:01 pm

sorry folks not for sale at this time I paid 620K financed for 48 months put 124K down my payment is 12K a month I made 19 payments I think I will hang in there for awhile I have a gut feeling the baht will weaken to at least 36 if I am correct life here will get back to what I came here for
OH & the interset rate is 3.9 I was at toyota the other day with my nephew he is looking to buy a car with his G/F they % rate was 4.6 if I remember but they did say if you put 100K down they can get you 3.0

Post by **UdonExpat** » March 7, 2008, 1:27 pm

Don't take the interest rate at face value. A common practice in Thai car financing is to base the interest rate on the complete value of the sale, not on the balance after the down payment.

Total up the amount of your payments and down payment. This will be what you are paying. Compare it to the sales price. It may surprise you.

In fact, if you sit down with a calculatior you may find that your down payment is not even figured into the financing agreement. This is common practice in the used car business, although I'm not certain that it is so in the new car business. This is why if you need to finance, it may be cheapest to do it with the minimum down.

Dealers like large downpayments as it basically amounts to a gift to them. They also receive commissions on any financing packages. Paying cash is nearly always the cheapest way to go.

This is not the USA where there are standard financial disclosure laws that make it relatively easy to understand a contract sales agreement.

Don't assume that business practices are the same here. They aren't

Post by **aznyron** » March 7, 2008, 1:33 pm

Udo you are correct except for the D/P they charge % rate on the amount being financed for the full term of the loan example if you finance it for 4 yrs you pay the same amount of % money for all 4 yrs even thos the balance go down year after year you still pay the amount the full % rate of the finance amount I hope I explained my self correctly

Post by **BKKSTAN** » March 7, 2008, 1:40 pm

The interest is paid first.

Post by **parrot** » April 6, 2017, 10:38 am

Scenes like the one I saw yesterday remind me why I'd never buy a used truck in Thailand. The front wheels of the truck were hardly making contact with the pavement.......floor tiling and Qblocks
t.i.t.

Post by **minimiglia** » April 6, 2017, 2:17 pm

That is what pickups are made for.

Post by **747man** » April 6, 2017, 3:52 pm

minimiglia wrote:That is what pickups are made for.

And Here's Me thinking they were for carrying 15 Passengers in the back bed,That DON'T Want to use their seatbelts !!

Post by **sometimewoodworker** » April 6, 2017, 6:05 pm

BKKSTAN wrote:The interest is paid first.

When you get an "interest" rate on a loan in Thailand don't expect that you can relate it to a western interest rate. In the rest of the world the total amount of interest you pay will drop if you pay off the loan early. In Thailand it should really be called a loan arrangement fee of x% of the loan amount with a 0% interest loan

Post by **Fatone** » April 7, 2017, 9:50 am

We used to call this flat rate interest when i sold cars in my youth, as distinct from reducible, it became illegal to quote in oz a long time ago

Post by **FrazeeDK** » April 7, 2017, 9:53 am

used car and truck prices here are ridiculous.. My nephew's sister-in-law found a used truck on-line at a local dealer. The asking price was 160K.. They went and put 10K baht down on it sight unseen.. Neither he nor his sister-in-law could tell me exactly how old the truck was, other than "it's old" nor how many kilometers were on the clock.. The nephew asked me to take him to see the truck so we drove up on the Nong Khai highway to the dealer. It was a 16 year old Isuzu that had 450,000 kilometers, was beat up, dirty, and had a pile of trash in the bed.. I took one look at this bald-tired, piss-poor excuse for transportation and told him he shouldn't waste another satang.. He lost the 10K deposit... Oh, BTW, he's 54 years old, doesn't have a license, has never driven a truck or car but feels he "needs" to have one...

2nd hand car/truck prices

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2nd hand car/truck prices

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