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How much salary is enough to afford the first car?

Sep 21 , 2026 อ่านแล้ว 231 ครั้ง

How much down payment and how many years to pay for the first car to be worthwhile?

1. How much salary is needed to buy a car?

What is used to measure is the debt-to-income ratio. The commonly used method is:

Car payments should not exceed 15–20% of net monthly income (net monthly income is the total income in one month after deducting expenses).
All debts combined (house, car, credit cards) should not exceed 40% of income, which is the level financial institutions use for consideration.

Simple calculation example: For a salary of 30,000 Baht
Car payment at 15% is 4,500 Baht | Car payment at 20% is 6,000 Baht

Net Income/Month	Recommended Installment (15–20%)/Month	Estimated Car Price
20,000 Baht	3,000–4,000 Baht	Used car (may have hidden costs) or Eco Car (requires high down payment)
30,000 Baht	4,500–6,000 Baht	Eco Car / City Car
50,000 Baht	7,500–10,000 Baht	CROSSOVER / Small EV like LUMIN
80,000 Baht	12,000–16,000 Baht	SUV / PPV / Mid-size EV like TESLA MODEL Y

* Depends on down payment, interest, and number of installments

2. Hidden costs of owning a car

The true cost of owning a car is not just the installments.

Item	Frequency	Estimated Cost
First Class Insurance	Once a year	~15,000–30,000 Baht (first year often included from dealer)
Compulsory Motor Insurance (for sedans not exceeding 7 seats)	Once a year	645.21 Baht
Annual Car Tax	Once a year	1,200 cc car ≈ 1,200 Baht / 1,500 cc ≈ 1,650 Baht
Fuel or Charging Costs	Monthly	Depends on distance traveled
Scheduled maintenance / Maintenance costs	Every 6 months–1 year	Thousands to tens of thousands Baht
Parking / Tolls	Monthly	Depends on residence and workplace

How to calculate car tax

First 600 cc: 0.50 Baht per cc
601–1,800 cc: 1.50 Baht per cc
Over 1,800 cc: 4.00 Baht per cc
Electric vehicles are taxed based on vehicle weight instead.

3. Choose the right car type for your usage

Usage	Suitable Car Type	Highlights
Driving in the city, alone or with one passenger	Eco Car / City Car	Economical, easy to park
Small family, occasional long-distance driving	Sedan / Crossover	Comfortable, better sound insulation
Large family of 6–7 people	MPV / PPV / 7-seater SUV	Spacious, high ground clearance
Trade, transporting goods	Pickup truck	Durable, inexpensive to repair
Can charge at home, not driving far daily	Electric Vehicle (EV)	Low energy cost per kilometer

4. Gasoline, Hybrid, or Electric Car: Which is suitable for beginners?

Gasoline car (ICE): Not very high starting price, service centers nationwide, easy to resell, but higher fuel costs.
Hybrid (HEV): Fuel efficient in the city, no charging needed, higher price than regular gasoline cars (ICE).
Electric car (BEV): Low energy costs, low maintenance (unless battery or software is damaged), but requires convenient charging access. Should study insurance, battery warranty, and resale value.

If you can charge at home or work and drive no more than 100–150 km per day, an electric car is interesting.
If you often travel long distances or don't have charging access, a hybrid or gasoline car will be more convenient.

5. How to calculate car installments

The more you put down, the smaller the loan amount, and the lower the total installments and interest. For a first car, a down payment of 15–25% is recommended.

Formula for calculating installments (Fixed Interest / Flat Rate)

Loan Amount = Car Price − Down Payment
Total Interest = Loan Amount × Annual Interest Rate × Number of Years
Monthly Installment = (Loan Amount + Total Interest) ÷ Number of Installments

Example (Car price 700,000 Baht, 20% down payment, 2.5% interest, 60 installments)
Loan Amount = 700,000 − 140,000 = 560,000 Baht
Total Interest = 560,000 × 2.5% × 5 years = 70,000 Baht
Installment = 630,000 ÷ 60 = 10,500 Baht/month
(If including 7% VAT, it will be approximately 11,235 Baht)

Installments	Monthly Installment (before VAT)	Total Interest
48 installments	12,833 Baht	56,000 Baht
60 installments	10,500 Baht	70,000 Baht
72 installments	8,944 Baht	84,000 Baht
84 installments	7,833 Baht	98,000 Baht

* A Flat Rate interest of 2.5% does not mean the actual cost is 2.5%. The effective interest rate will be almost double because interest is calculated on the full loan amount throughout the contract. Ask the finance company to state this figure before signing every time.

** Actual interest rates depend on the brand, campaign, down payment amount, and borrower's credit. You should request "es from multiple finance companies and compare them.

Try calculating it yourself at Car Loan Calculator

6. Is it worth buying a car at Motor Expo?

Very worthwhile. The advantages are being able to see actual cars from many brands, sit in them, compare prices and campaigns immediately, and many brands offer exclusive promotions at Motor Expo.

Preparation before attending the event

Choose 2–3 models of interest to see and test drive, and set your personal budget.
Compare "es from 2–3 dealers of the same brand but different branches, and request "es that specify all freebies and conditions.
Bring your ID card and income documents in case you want to book and apply for finance, and allow time to inquire and read the finance conditions.