problemfarang

3 hours ago, NanLaew said:

These sort of questions are always being asked for 'a friend'.

 

I guess we're just lucky and don't know how difficult it is to sign up on the forum these days.

So this is how you made 29k messages? A big lol to you.

Maybe you are not aware but some people are not good at computers as you. Plus it doesnt matter its a friend,its you or its me, does it?

43 minutes ago, BritManToo said:

She doesn't have any choice but to carry the loan, unless she can sell the house.

I'm playing this game with my second Thai lady now.

 

First one was a gf, I lived in her house, and paid her mortgage direct to the bank, I even negotiated the repayment amount direct with the bank, they were happy to deal with anyone that would make repayments. (they wanted 10k/month, I paid 7k/month).

 

Second was a wife, I'm still living in the house, just lowered the repayments from 11k/month to 9k/month. The bank already repossessed 20% of the 250 homes on the housing estate.  No way for her to sell, bank thinks 9k/month is better than nothing a month. I view it as rent, but am happy to move elsewhere, could probably move next door(empty for the past 4 years) for 8k/month. 

Someone told me if they sign a new contrqct with the bank we can continue the loan of the house. Actually 2 people told me this. 

So its like go to the bank and tell them will be new contract and the payment will continue on others name

Need to contact bank

Thanks again to all..

I will tell all suggestions to him. 

Thanks..

It seems not easy. There is no way can get a new loan of 2million.. 

Hope he can solve the problem

4 minutes ago, Peterw42 said:

Firstly, name in house book is nothing to do with ownership.

The house belongs to the bank until the mortgage is paid up, look at the back of the chanote it will have the banks name as the mortgagee and the wifes name as the mortgagor.

The only name you can change is who has a mortgage, and foreigners cant have a mortgage.

 

There are only a couple of choices, sell the house and pay off the mortgage, someone else gets a new mortgage.

 

Hi.

So, there is no way like she will tell the bank that she cannot pay anymore and she wants to give or sell this house to another one. But the other person will continue paying the bank loan and will be the this person name

14 minutes ago, tonray said:

Yes....it's called selling the house. But the loan was made to her based upon her history/income. A new buyer would need either to assume the loan or get a new loan with the bank vetting their history and income before approving.

Hi again.

So are you saying that.. a thai person can take the house with the house loan still paying. I mean the person taking the house will accept to pay the loan of the house like normally they do monthly payment. I didnt mean the person will take a new loan to pay the house loan.. i mean the person will take the house with the loan on it. And continue the payment to the bank the rest of the loan??

Its like the house owner (she) will tell the bank she cannot pay anymore and want to give this person the house and the loan. So name will be this person and continue doing the payment house loan.

By saying assuming the loan, do you mean that a person can accept the loan and continue payment? Then can change the name? No taking new loan from the bank

Hi guys, a question for a friend:

Well this couple was married and bought a house together using bank loan. Of course he is paying the house but house name and bank loan is on her name. 

They got divorced and problems started. First she said you keep the house just do the payments to her bank account. But after 1 year she said she doesnt want to carry this loan on her so she said she is ready to change the house name to him or other thai person. 

Probably cannot be on his name. So will be other thai person name. The law is they cannot change the house name for 3 years. Its already 2 year so they must wait another 1 year for the change. But of course she asked him to pay the whole loan around 2 million baht. Impossible to pay that in 1 year. 

So is there any way that a thai person can take the house name (i mean name on the house book) with the bank loan too?

If not can a lawyer help? Need to contsct bank?

Any suggestions, help, advices please..

Thanks..

UPDATE:

Bank cofirmed my car loan. I will get the car in 3 4 days.

Thanks everyone for suggestions and advices

41 minutes ago, n8sail said:

This is very true...  If you look at it from a business perspective, those of us hearing "MUST have 25% down minimum, Gov't employee etc." has got to be for a reason:

 

The banks are not selling cars, they are selling a loan.  It is in their interest to collect as much up-front as possible.  So, of course the loan salespeople are going to say "25% is the minimum for farang, must pay us 25%."   I would do the same if I were them.  Make the falang (and Thai co-signing) believe that is the only way, so you don't go shopping for other loans.

 

Very good that OP has been able to do it for 10% down and 0% for 7 years.  That is amazing, and I admit that I'm little jaded and jealous.  I'd have my new EV, a lot more money in my pocket NOW, and pocketing even more each month from my car stipend if I had gotten those figures.  ????    My girlfriend is no dummy, and even she was duped into thinking this 25% is the RULE, by 2 banks!

 

Anyways, OP, absolute best of luck, hope your passport issue works out and please update us when the deal is done.  Personally, I never bought a brand-new car in my life before coming to Thailand, and it is a very nice experience, I hope you get to enjoy this also!

thank you. 

Mazda arranged a meeting with the bank on this sunday (18 Jul) Krungsri also called me and prepare my 6 month bank statement, last 3 month salary slips, real passport, and a letter mentioning my salary and position from my employer. thats all. And she told me they can do the process and when ready can see my real passport when they are ready to put the money in my bank account. 

Thanks again for your kind words. But again i will not get excited till im holding the keys. Even though this time it seems everything ok, you know... this is thailand.

I will update after sunday bank meeting again.. 

UPDATE:

Mazda contacted Krungsri bank and they ok with 10% down payment.

Bank will prepare the paper work with me on monday.. will update

UPDATE:

bank called us and said i must pay 20% if want on my name. 

So its confirmed now that farang can get car loan but must pay 20%

9 hours ago, canthai55 said:

Yes. No Gov't job required. No Mrs. required to have a Gov't job

Percentage down payment will be up to the bank.

Ours thru Krungsri

I really dont think any foreigner can get any loan from the bank. I tried a year ago just by myself. They told me its not possible at all. And yes i tried all banks. 

Now for the car loan, foreigner can get it, its clear. Whats not clear is something like my case. Which is we have to pay something to the bank because we are farang or no need to pay as the bank lady told me. I can answer this in 2 week time. 

House loan... thats also impossible. 

How it can be possible. You can only co-sign with your thai wife. Thats how i bought my new home. They told me if i wqnt my name on the house book i must pay half of the house in cash. Then i can have only 49% of the house. Rest belongs to my wife. 

Car can be fully on my name if i can provide them with my work address. 

9 hours ago, canthai55 said:

Why would you believe anonymous posters on a public internet forum - proven wrong countless times - over the word of the bank who is loaning you the $$$ ?

With all the respect thailand and people.. you really cannot trust what they say or promise to you. Like my case.. the lady from the bank who did my papers told me there wont be any problem if i take it on my name.. i asked her 3 times of i have to pay anything to the bank for the loan or not.. she confidently told me no need. I called her every day and asked the same question.. 3rd day she told me she will send my paper work to the bank HQ. Now.. this means all the things that lady from the bank who did all my paper work said will change. Why, because all paper work will go to HQ. That means other people and other opinions. Like i said with all respect this is thailand. All my 14

 Year experience in thailand thought me that the situation i wrote you means all the things she told me is nothing. Thats why i just cannot trust her. 

So thats why im asking to forum. And.. tbh 80% whatever they replied is... correct

Although all comments here are really useful, i still cant see the real answer im looking for. Bank will ask some money in cash OR its really as the bank lady told me, no need anything and same as thai person... 

well it seems we will see in 2 week time...

39 minutes ago, 4MyEgo said:

Most new car sales come with one year "complimentary insurance", this must be renewed every year, when the time comes, shop around and don't go without 1st class insurance because you will still owe money on the car and if it is ridden off in an accident or stolen they they will pay out the bank.

 

With regards to warranty, you must keep taking it to them during the 3 years, in other words, if you don't, you will lose the warranty, so for the sake of a few thousand baht each time it's best to keep taking it to them until the 3 years is up, I mean if you change the oil yourself to save a few thousand baht, and blow a gearbox or motor for arguments sake, you will have to pay for it as your warranty will be null and void, take it as extra insurance so to speak.

 

Enjoy the car in the meantime.

ohh sure i will use the warranty at its best ???? im aware of that. thanks again

1 hour ago, 4MyEgo said:

Naturally Mazda will provide you with 3 years warranty or 100,000 kilometres which ever comes first.

 

Have you taken into consideration how much each service will cost you around every 15,000 kilometres, add to that insurance. Also, you cannot take the car to someone else, and if you miss the service, your warranty is over.

 

I am old school, in other words, if you can't afford to buy a car cash, you can't afford the car, simple, now if you want to get yourself into debt, well join the rest of society, the only thing I will tell you is that when I purchased my new car with cash 6 years ago, I knew that once I would take depreciation and other costs into account that I would lose over 10,000 baht a month for the privilege of owning a new car, that's money down the drain for owning a new car, now you will of course have to add the interest on top of that, so the repayment are one thing to look at, but don't forget the total loss on the vehicle.

 

I use my car a lot, e.g. 32,000 kilometres per year so it pays me to lose the 10,000 baht per month on the car for the usage.

 

Perhaps you should reconsider, especially in this climate with the pandemic, people losing jobs, cars being repossessed by banks and finance companies, the 2nd hand market with cars under 5 years old looks good at the moment.  

Hi,

Thanks for the advices.

I really dont worry about my job. Im working for the thai air force. And they dont have the power to cancel or finish my job. So there is no problem there.

About car expenses.. yes i kinda calculate them. This promotion has 1 year best insurance you can get and car garantee 3 years or 200k km. So not that bad.

Im not sure about how to lose car insurance conditions. But the seller told me if i upgrade car i will lose all. Thats all. No other things she mentioned.

I also have a small basic garage in my home with car fixing stuff. I really enjoy and like doing small things. I can easily change the oil or do basic engine fixes. But i will not touch it at least 1 year. 

Also thnx to your advices i will ask her some details again..

I would listen BritTim, thats what i was going to suggest...

just go some more.. smaller place and try.

1 hour ago, n8sail said:

As I understand it, you must have a work permit AND a Thai guarantor (can be anyone does not need to be any relation to you)

 

 

It can be your wife. Now things changes if you co-sign with your wife.

Car will be under 2 names. 

Thai government employee guarantor is only needed if you are farang, have work permit and want it in your name. thats what TBB bank lady told me that day at mazda meeting. 

26 minutes ago, vinny41 said:

If That is the case I would cancel the paperwork and ask Mazda for the deal that they offer to Goverment employees as that deal should be better than the deal that is a general promotion

I have seen where a number of brands offer maximum discount 70,000 and when you try to press for more they ask are you a Goverment employee as we can offer different deals but only to Goverment employees

or goto a different Mazda showroom as see what sort of deal that you will be offered as a Goverment employee

As you can see many brands offer 0% interest and zero down payment and 7 years installment plans for Goverment employees only as you are considered less risky than other occupations

here is an example

https://www.hondaleasing.co.th/special-occupation

Hi,

sorry for the misunderstanding. What i mean is that if its on my name, bank want a government employee as my guarantor. And its a must. They want a guarantor and must be working in government. They are not ok with some other thai person has a normal work. Thats the only way a farang can get a car loan from the bank. 

I also checked the special promotions for government employees because as i said im working for the thai air force. Its not that big deals for cars. Big deals are for houses. When buying my home they made 200K discount. 

Mazda's promotion will end at the end of this month. So i really hope my passport will be ready before that. 

9 minutes ago, vinny41 said:

On the link provided there is a MAZDA CX-30 100TH ANNIVERSARY EDITION 0% interest down payment 25%, installment for 48 months

All brands have special offers and terms for government workers and those offers and terms are different from what non-government workers receive

Its a general promotion from the showroom im buying or trying to buy. I already signed the papers and paid 0 baht. My quarantor is thai government employee. Thats all bank wants. A thai GOVERNMENT employee

48 minutes ago, n8sail said:

As I understand it, you must have a work permit AND a Thai guarantor (can be anyone does not need to be any relation to you)

But, I was wrong about a 0% loan for 7 years, if in fact the OP's saleswoman is not pulling one over on him...  as the link provided for the 'deal' is as stated above, 25% down etc.

 

OP, keep us updated even after the 2 weeks to get your passport back.  These things are useful to know for all farangs here.

 

 

Hi,

Yes i will update. 

Also as the link says 25% i already posted about that. Its just a standard text stays there whatever it happens. Important is to read the notes on the car pics. 

Also as i said i alreqdy signed the papers and didnt paid 1 baht. So its real

2 hours ago, Sophon said:

Your link clearly states that the promotion on the CX-30 is for finance over 5 years with 25% down payment and 0.99% interest. Maybe the lady you talked to can get you an extra special offer, but that is what the official promotion is. 

Hi,

If you go to mazda they will tell you that the thing on the website is general rule for 48months. Every showroom has their own promotions. The one im using is 0 down price or else. Like i said i already signed the paper work and downpayment is 0. I didnt pay anything. So its for real.

5 hours ago, mikecha said:

Credit  in Thailand is always a risk  .

i would think hard     about doing this as you will be stuck for 7 years for pay back plus the big intrest

  What happens if yourwork permit does not get  a new year 

in these times of covid 19  no body know s where and what wil happen 

i would keep risks to a minimun but of course it is not my Business what you do 

 

Like many say here what u buy or invest in Thailand be prepaired to walk away  and forget  ,

Thanks for the heads up

16 hours ago, brianthainess said:

OP You will always be in negative equity, interest is around 6% (interestingly BKK bank do not publish their rates in English)  and lets hope for you nothing will affect your personal ability to spend 7 years paying it off, one would take a big loss if you ever need/want to sell.  I hope you take into consideration service costs on top of the loan. It will never be yours until paid for in full.

Hi..

Mazda service is not that bad. Ford is killing me. Like i said im planning not to sell it.. thats why im going for the top options and all for cx30

Thanks