# 100,000 bht cash back on new cars



## Grennor (Nov 27, 2008)

Just over 2 years ago my Girlfriend bought a new car and took advantage of the government 100,000 bht cash back, we would like to trade in for a new car but are told that she would have to refund the 100,000 if changing before 5 years have passed , to me this seems ludicrous , as the original idea behind the cash back scheme was to help the industry to sell cars , yet they don't want us to change for 5 years ? Surely if trading in for a new car everybody wins , maybe General Prayup needs to look into this backward move ? Has anyone heard differently ?


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## tod-daniels (Dec 1, 2013)

Well, I hate to be the bearer of bad news BUT that scheme was cooked up so people would BUY new cars not so they could trade 'em in after two years AND after receiving what ever rebate they got!

Here's a blurb on how the scheme worked;



> According to the scheme, car buyers eligible for tax refunds must be at least 21 years old. They must hold ownership of the cars for at least five years. Their vehicles must not be worth more than one million baht, with engine capacity not exceeding 1,500 cc. The cars must also be manufactured in Thailand, excluding those produced with imported used parts. The refund will be made from 1 October 2013 onwards.
> 
> The Ministry of Finance reported that the car buyers would be refunded the actual amount of tax they have paid but the ceiling of the refund is set at 100,000 baht per unit. Another requirement is that the cars must be purchased from 16 September 2011 to 31 December 2012.


You can see by this that she's gotta hold onto it for 5 years. End of story.. Just an FYI; this scheme was suicide for the thai auto industry and the government tax coffers too! The number of people who defaulted on the loans went thru the roof!

I'd tell your g/f to suck it up, keep the care another three years to honor the rebate contract, or dig into hers/your pockets and cough up the 100K rebate she got..

Like I said, hate to be the bearer of bad news. Hate the message if you want not the messenger...


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## Grennor (Nov 27, 2008)

Thanks Tod , and yes it s**ks , but it was only open to 1st time buyers , so can't see the sense in encouraging them to keep the same car for ,5 years??? Crazy logic


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## tod-daniels (Dec 1, 2013)

Hey, I checked with some thaiz about this.

It would appear that there's no restriction on your g/f selling the car second hand to a private party (not trading it in at a dealer), using that money to pay off the outstanding balance on it and keeping the 100K rebate she got..

Or at least that's how it was explained to me in thai by a thai who did it..

I'd check with someone but it would appear that's the consensus. They said it was a pretty common thing.


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