Jump to content
BANGKOK
Sign in to follow this  
scorpio1945

New Car Purchase

Recommended Posts

Ah, well then I double misspoke, and my apologies! :)

I guess the consolation is that 3.3% interest rate is still a very attractive one...I envy you as I am single with no Thai co-signer for a loan.

I have to pay cash 100% up front.

Enjoy your new car!

No apology needed. I learned something. That is never a mistake.

Haven't got the loan yet. I know that nothing in Thailand is an automatic.

Also, car buyers note that there is a 50% penalty on the unpaid interest if you want to pay the loan off early. Lots of tricks to the Thai system.

Only 50%? I wanted to pay the loan and had to pay more than I would have paid every month. When paying in time I got a deduction every month from about 30% of the interest. When trying to pay in one time they "forget"this deduction. Thieves are these private banks!

Finally I decided not to pay anymore because the money I had to pay to the bank would be the same or more of what the garage would give me. I stripped the car and called them. They picked it up within 24 hours... So far My adventure.

Now I have a new one with a normal bank and If my uncle or aunt dies and I can pay the whole amount I don't need to pay interest for the money not loaned.

Share this post


Link to post
Share on other sites

So, whats the most popular car here in Chiang Rai.

I'm thinking of trading in my 21 yr old mazda for something nice and comfortable.

Share this post


Link to post
Share on other sites

I bought a Mazda 2 six months ago and love it. Put 11,000KM on it in the first few months, not many since then. It was about 580 with lots of extras, most of which I paid for. They threw in the window tint, first year insurance, and a few other odds and ends (nothing memorable).

I am very happy with the purchase, especially the gas mileage. My first Mazda. Great car!

I decided not to buy the Mazda based on the CVT transmition which I do not find places the best emphasis on fuel economy.

In 1992, the United States outlawed the use of "Rule of 78s" interest in connection with mortgage refinancing and other consumer loans over five years in term. Certain other jurisdictions have outlaw ed application of the Rule of 78s in certain types of loans, particularly consumer loans.

Do not think I am talking about the same thing. Interest in the US is based on a declining balance. Here they take the interest rate times the loan amount times the number of years divided buy the number of months to come up with your monthly payment. The declining balance is no factor. Easy to calculate but not the TRUE interest rate. Makes it look very good till you find out the truth.

Correct. The ADVERTISING gives a deceptive rate, 2.95% in my case. But, your loan paperwork will have the Actualized rate. Basically double the advertised rate. So, my 2.95% is really a 5.9% loan... still good, but darn deceptive.

As pointed out above, they multiply the full balance borrowed, with the interest rate, over the full term. Then this amount is added to the loan, 60,000THB in my case (if I recal correctly). On a traditional loan, the interest paid is on a declining scale, and by the final payment, the only interest paid is on the last few hundred. The THAI way above, collects the same amount of interest every month, based on the full value of the loan, even to the last payment. That's the scam.

I guess the consolation is that 3.3% interest rate is still a very attractive one...I envy you as I am single with no

If you have the dealer financed loan, your 3.3 is really closer to 6.6%. Sorry to break your bubble.

Also, car buyers note that there is a 50% penalty on the unpaid interest if you want to pay the loan off early. Lots of tricks to the Thai system.

This may be the case on bank loans. But NOT on the typical car loan, dealer financing, or TIsco, etc. You pay the full term of interest on the first payment. I've never heard of any discount. The balance remaining is the balance remaining.

PLEASE CORRECT ME IF I AM WRONG>>>> thanks.

Share this post


Link to post
Share on other sites
So, whats the most popular car here in Chiang Rai.

I'm thinking of trading in my 21 yr old mazda for something nice and comfortable.

Depends how much you want to spend. The new Ford Focus is easily the best in class, if something smaller then Mazda 2, Fiesta or Yaris are all good and if smaller still then the Mitsubishi Mirage, Honda Brio or Suzuki Swift. My student's family own CNY auto import and they showed me some of their cars recently, very nice but very expensive! Personally I prefer a pick-up as the roads are so bad here and loads of choice there too, good luck deciding!

Sent from my GT-I9003 using Thaivisa Connect App

Share this post


Link to post
Share on other sites

Off topic, nit picking and bickering posts removed, can we stop this nonsense now please!!

  • Like 1

Share this post


Link to post
Share on other sites

That is the whole point. The deleted stuff had nothing to do with buying a car. Just as your followup comment and mine, have nothing to do with buying a car.offtopic2.gif

Share this post


Link to post
Share on other sites

I agree with skybluestu on this one.

The Ford Focus seems to be "the" car in it's class at the minute.

They also have some 1.6 models due in January next year for 759 000 Baht.

For some of the cheaper models like the Suzuki Swift and Nissan March,

there seems to be long waiting periods so that should be taken into account.

The Swift is really popular and I've read the waiting period is up to 12 months.

Other than that, you have your Honda's, Toyota's and Mazda's etc.

IMO, unless you want to spend mega-bucks, you're only going to get something

reliable and pretty basic here in Thailand for your money.

Regards

Will

Share this post


Link to post
Share on other sites

I have always considered maintenance and resale as part of the total cost of owning a vehicle. A quick look at the used car market will give you an idea what holds its value and is easiest to sell.

The tax structure favors pickups, they are more functional and hold up better on some of the rougher roads in the countryside. Most of them run on diesel which is much cheaper than petrol, as well. Not everyone has the same driving habits or needs but the only viable alternatives for me are a pickup or an SUV.

Share this post


Link to post
Share on other sites

I like my ute/truck even though I don't usually favor larger vehicles.

I get about 43 mpg in diesel out of it... 65litres/100km.... which is pretty good, and you've got that extra bulk protecting you in the event of a collision.

Plus there's all that extra family you get in the back on outings. thumbsup.gif

Share this post


Link to post
Share on other sites

late to the thread but am very interested in buying a new car here in CR; would like to know if the larger vehicles, ie, Toyota Camray, Nissan Altima, Honda Accord, Mazda ?, are available and if so pricing and availability.

James

Share this post


Link to post
Share on other sites

Looks like we are all doing our best to emulate your Lao Tza saying on your popup.wink.png

All these manufacturers have online sites and telephone numbers with numerous sales staff interested in making a sale. I would doubt you will find any takers if your request is to run around to four different car dealer to negotiate terms for you.

Pricing and availability fluctuates over time so without a quote from the dealer, not sure how accurate hearsay might be. Buying a car necessitates a certain amount of legwork and I suggest you find the time to visit the dealers in question, after first checking online.

Edited by villagefarang

Share this post


Link to post
Share on other sites

Four door Isuzu D-Max are still under 900,000, call into Isuzu on the Super Highway just north of the airport turn off for a look. They have an SUV model which is a bit more.

Their service is excellent, have a look at the service area out the back before you decide to buy.

Share this post


Link to post
Share on other sites

Four door Isuzu D-Max are still under 900,000, call into Isuzu on the Super Highway just north of the airport turn off for a look. They have an SUV model which is a bit more.

Their service is excellent, have a look at the service area out the back before you decide to buy.

I bought the new mazda BT50 Pro and its the best vehicle I have ever bought. I change my vehicles every two years(get a good trade in price) and this one might stay with me a bit longer. I can rave on about it but all I can say its the best. You only have to look on the road now as they are everywhere and Sintanee say they have many orders outstanding.

Share this post


Link to post
Share on other sites

Four door Isuzu D-Max are still under 900,000, call into Isuzu on the Super Highway just north of the airport turn off for a look. They have an SUV model which is a bit more.

Their service is excellent, have a look at the service area out the back before you decide to buy.

I bought the new mazda BT50 Pro and its the best vehicle I have ever bought. I change my vehicles every two years(get a good trade in price) and this one might stay with me a bit longer. I can rave on about it but all I can say its the best. You only have to look on the road now as they are everywhere and Sintanee say they have many orders outstanding.

The motoring folk at Bangkok Post agree with you as it was number 1 in a recent test, I have the Ranger which is built in the same factory and very happy with it.

<< Link to Bangkok Post removed as per forum rule 31: http://www.thaivisa.com/forum/index.php?app=forums&module=extras&section=boardrules >>

Edited by metisdead

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...