finance for a car

auserb Active member

26POSTS

10 years ago

can anyone tell me how to get finance to purchuse a vehicle -car without having Thai nation to be a guarantor , and have to have work permit

See also

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Can you recommend a financial advisor in Pattaya - 0 Reply

cthierrymk ViP

1418POSTS

10 years ago

Bank does聽 not borrow to foreigner if they don't have income here, or an amount equivalent to the loan deposited in an account like Fixed Deposit.

A Thai national, for example a wife ( even not working ) will have access to loan more easily with a foreigner ( for example her husband ) as a guarantor, I know this can look weird.

Same for credit card, house mortgage, etc....

Best way is to sit with your banker and discuss this, as each bank can have some specificities, if you arrive to convince them it will be fine.

Now if it is a loan provided by a financial institution the car dealer propose to you, sometimes it can be ok if you pay a huge down payment, like 30-50%

auserb Active member

26POSTS

10 years ago

Thanks very much my dear friend , that is what expected to here, I do have a regular income from overseas, I tried everything possble but not to avail. I just simple get the same answer , Thai nation and work permit . I do not have neither apart from condo and regular income of 40.000 THB..No wife to

cthierrymk ViP

1418POSTS

10 years ago

Maybe try in your home country a loan, or maybe a bank can borrow you here with your condo as a guaranteed, after in Thailand there is the dark side of loan ( shark loan ), but interest rate can be very high and risky if you are not able to payback, but many Thai which can not get loan and are in debt have no others choices than to follow this way to survive.

marcinpattaya Member

23POSTS

10 years ago

Moderated by Priscilla 10 years ago
Reason : No free ads here please + register in the business directory
We invite you to read the forum code of conduct

auserb Active member

26POSTS

10 years ago

Hi Marc

thank you for your e-mail, I will most certainly try and will get in touch with him
I hope it is a ok, Thank you sooooo much again and I will let you know the outcome

cthierrymk ViP

1418POSTS

10 years ago

Be careful of people trying to provide you loan by unofficial route ( not a bank or financial institution ), the contract you will get will have no value, you can loose your money and the car, and it will be difficult to pursue legally this kind of shark loan in Thailand, often this finish with gun or intimidation for those who are not able to re-pay... avoid this ( often they will say loan provide by owner .. or something similar ).. remember in Thailand foreigner scam foreigner more easily

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auserb Active member

26POSTS

10 years ago

Thanks mate I've tried they do not want to be in it

auserb Active member

26POSTS

10 years ago

Thank you kindly for your advise, I surely will take extra caution towards borrowing money for a vehicle, but this guy sims to be very honest

blackjack2010 Serial expat

267POSTS

10 years ago

#10

you are all聽 right as it is difficult to get a loan
if you get one be careful of the hidden charges
ie. loan for 2.5% per year x 4 years however the loan does not reduce each month - the interest is on the whole 4 years or 48 months - in my book this is wrong
also - they may want 50% down and then the buyer has to have insurance for the period of the loan

This is added to the loan and charged at the same rate. so you end up paying a lot more for the car

geoffbrit New member

7POSTS

10 years ago

#11

There is a great company in Pattaya who will finance a car or motorbike for you. They only do this for foreigners. You will need your passport with a current visa and some cash. I have a Toyota from them since October and make monthly payments. First class insurance is arranged for you. You can rent the car that you are interested in for a week and if you choose to but it, they will deduct the week from your purchase.
Let me know if you need more info.

blackjack2010 Serial expat

267POSTS

10 years ago

#12

at what interest rate?

Kevin Kwas Member

1POSTS

10 years ago

#13

Hi
I was interested to find out about this great finance co in pattaya myself
I am in process of buying a car at present. No work permit, no income, but can put a substantial deposit down.
Can you please advise details of this company in pattaya
Thank you very much
Kind regards
Kevin
***
Ps: I am married to a Thai national and we both own a house in chonburi

Moderated by Priscilla 10 years ago
Reason : Do not post your personal contact details on a public forum for your own security

geoffbrit New member

7POSTS

10 years ago

#14

auserb wrote:
can anyone tell me how to get finance to purchuse a vehicle -car without having Thai nation to be a guarantor , and have to have work permit

All I had to take was my passport/visa and deposit, which in my case was 32000 baht. Contract between 12 and 48 months. Don't know interest rate off hand.***

geoffbrit New member

7POSTS

10 years ago

#15

They will not rent to Thais. They have had too many problems. Owners are Belgian.

cthierrymk ViP

1418POSTS

10 years ago

#16

Lease a car with a deposit over 48 months or longer period and at the end you will own the car, transfer of paper will be done in your name but this as nothing to do with a loan, as all your money is lost ( used to rent the car ) not to puechase it if you stop the contract.

If you rent on 1 year and own it after you will have pay minimum 20-30% on the cash price, often used car they have in stock.... What you will have is a rental contract with a clause at the end to purchase it, with or without balloon, any car dealer will propose this to business with insurance, maintenance cost, etc included, but you will end up paying the car very very expensive....

geoffbrit New member

7POSTS

10 years ago

#17

This is getting more complicated than is necessary. It's almost impossible to get a bank loan as a farang without involving a Thai who has to give all their personal bank info. on your behalf.
***. Yes it will cost you more, but you will have a car, all the documentation is taken care of and after it is paid off the car is yours.

Moderated by Priscilla 10 years ago
Reason : No free ads here please
We invite you to read the forum code of conduct

cthierrymk ViP

1418POSTS

10 years ago

#18

When you rent a house 20,000 THB the owner get around 5-6% ( house worth around 4,000,000 THB ).

Now when you rent a car for the same amount 20,000 THB, this used car does not worth more than 800,000 THB, the owner get a return on investment of 30% even more, and the value of the car will decrease during the rental period ( house price will go up )

You can see how people can do easy money by renting car as they need less initial capital than for buying a single house ( for the same price of the house above in the example they can buy 5 cars and do their business, obviously only for farangs.... 5 times 20K = 100K they got per month for the 5 cars instead of 20K for the house for same initial amount invested.....

auserb Active member

26POSTS

10 years ago

#19

Please Geof,
can you provide me with the phone number of the finance company and rental comp.
regards
Bob

colbamumbai Active member

60POSTS

10 years ago

#20

You have to pay cash, no financing, only for Thais. We are not wanted, but needed here.

geoffbrit New member

7POSTS

10 years ago

#21

Moderated by Priscilla 10 years ago
Reason : No free ads here please

auserb Active member

26POSTS

10 years ago

#22

Can you please give me the name number of company or address please my email聽聽***聽 P. H. ***聽 thanks again geof

Moderated by Priscilla 10 years ago
Reason : do not post personal contact details here for your own security

geoffbrit New member

7POSTS

10 years ago

#23

XXX. Google them
Only need passport, and cash with proof of address. Philippe or Aoy. They only do in house finance for farangs. Or send me your email and I will send you a link
Regards, Geoff

Moderated by Julien 10 years ago
Reason : advertising is not allowed on the forums : please recommend the professionals you appreciate in our business directory
We invite you to read the forum code of conduct

auserb Active member

26POSTS

10 years ago

#24

Well, who ever said that farlang can not get a finance for the car, he is mighty wrong. I just purchased a Nissan Almera , and paying it of on monthly basis. You want one too?-[

el escondido ViP

1351POSTS

10 years ago

#25

Interesting but....who's the owner of the car until payment is completed? you or the lease company ???

auserb Active member

26POSTS

10 years ago

#26

tell you what I bought many cars over the years in my country on HP (higher purchase and car always belongs to finance company untill it is paid of

Who ever said that ..when you buy a car on HP is yours immediately is a big bull...
Buy it on finance like in any country in the world , car bilongs to financial institution you borrowed money from

auserb Active member

26POSTS

10 years ago

#27

Kevin Kwas wrote:
Hi
I was interested to find out about this great finance co in pattaya myself
I am in process of buying a car at present. No work permit, no income, but can put a substantial deposit down.
Can you please advise details of this company in pattaya
Thank you very much
Kind regards
Kevin
***
Ps: I am married to a Thai national and we both own a house in chonburi

Please get in touch with me I will give you necesery聽 information in private my email is聽聽***

Moderated by Priscilla 10 years ago
Reason : Do not post your personal contact details on a public forum for your own security

Priscilla ViP

42358POSTS

10 years ago

#28

@ auserb > If you have information to share, maybe you should consider posting them on the forum so that they are accessible to everyone.

Thank you,

Priscilla

auserb Active member

26POSTS

10 years ago

#29

Priscilla, Surely you are aware of the facts that we are not allowed to post any ads that contains phone No. e-mails and so on , due to a private policies of this forum

marcinpattaya Member

23POSTS

10 years ago

#30

I can publish my name and that is Marc Heylen. Just put that on Google and you find me, just put that on Google pictures and you see me...... private policitis in 2016.. a joke

auserb Active member

26POSTS

10 years ago

#31

Marc, She is a moderator of this forum, why did she say that then? please tell me

marcinpattaya Member

23POSTS

10 years ago

#32

On the many WHY questions in Thailand are many time NO answer

auserb Active member

26POSTS

10 years ago

#33

Ouch, that is too much for me Marc,

Priscilla ViP

42358POSTS

10 years ago

#34

Hi everybody,

As this thread has been created for advertising purposes, we are closing this thread.
Please note that advertising is not allowed on 大咖福利影院 according to the code of conduct. First of all, we are here to help each other and to help members in their expatriation procedures.

I am therefore closing this thread.

Thank you for your understanding,

Priscilla

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