Loan

[Hoppyone]

can a farang get a car loan on a retirement visa,can show fortnighly income

[blackcab]

Not visa related. Moved to Jobs, economy, banking, business, investments forum.

[elviajero]

Your visa status isn’t really important. The bank will only be interested in your ability to repay. IMO it’s unlikely you’ll get a loan if you aren’t working in Thailand.

Edited May 29, 2018 by elviajero

[Lamkyong]

i think it is possible  but you will need a thai guarrantor   ie someone who has a job (proven)

[theoldgit]

I got a car loan a few years ago from Tisco to purchase a new car, I'm on an extension of stay based on retirement, I wasn't required to provide a guarantor, just proof of my income. 

 

So it can be done, though, as I say, it was a few years ago.

 

[Hoppyone]

38 minutes ago, theoldgit said:

I got a car loan a few years ago from Tisco to purchase a new car, I'm on an extension of stay based on retirement, I wasn't required to provide a guarantor, just proof of my income. 

 

So it can be done, though, as I say, it was a few years ago.

 

Ok thanks

[JoePai]

I was refused a loan because the said I was too old - am only 67    !

[Hoppyone]

4 minutes ago, JoePai said:

I was refused a loan because the said I was too old - am only 67    !

Ok thanks same age

[lungbing]

I got a car loan from Kasikorn Bank in Khon Kaen.  I've had an account with them  15 years so they know my income.  We were visited at home.  No problem.  That was 2 and a half years ago.  Only 18 months to go.  I was 68, I think.

[Hoppyone]

17 minutes ago, lungbing said:

I got a car loan from Kasikorn Bank in Khon Kaen.  I've had an account with them  15 years so they know my income.  We were visited at home.  No problem.  That was 2 and a half years ago.  Only 18 months to go.  I was 68, I think.

Thank you

[wombat]

why would you want to...no pockets in shrouds.

[catman20]

On 5/30/2018 at 8:54 AM, Lamkyong said:

i think it is possible  but you will need a thai guarrantor   ie someone who has a job (proven)

not so my Thai g.f garrenteed me no job.

[BWPattaya]

Isuzu arranged finance using my house as collateral

[keithcresswell]

My car loan was from Tisco. But my unemployed Thai wife was my guarantor. 

[joebrown]

Try Kiatnakin Bank (Pattaya Klang). I was 67 on retirement extension when they granted me a 3 year  50% loan on a nearly new pick-up. No Guarantor was needed.

[Muzarella]

Many possibilities and variations, also depends if will be a bank loan or a private lender company, and if the car is new or used.

A  private lender will be more flexible but the interest rate on the loan will be higher than from the bank

Can be done with a large down payment, about 40 to 50 %

Can be done if you own a paid-off property in your name, like a condo.

Can be done if you declare taxes in Thailand

Can be done with a Thai individual collateral with a good job or a paid off property, and a good credit record.

And... Loans in general for Thai or Farang only before 66 years of age... Example... If you are 60 years old the loan maximun term will be 6 years or less. A 30 years old Thai can qualify for a 36 years loan just showing a good job history, most for land and homes. Cars loans can be up to 6 years, but also can be refinanced after.

In some rare cases a Thai can get a loan with a Farang collateral, if they are married and the Thai have a good credit history in any former financed purchase. In that case the car will be in both names, and can be transfered in the Farang name after paid off or considered common property in case of a divorce. Same with a house under construction loan.

My case with my ex-Thai wife.

Every bank, every lender, and every lawyer, will provide different scenarios....

Edited May 31, 2018 by Muzarella

[Lamkyong]

4 hours ago, catman20 said:

not so my Thai g.f garrenteed me no job.

ok cant be correct all the time   bit like opening a bank account no consistency  between companies

[tryasimight]

Finance and risk...same everywhere. 

 

8000,000 in the bank?   Use that..... Low risk for the bank. 

No 800,000 and only monthly pension income.. Who would you lend to? 

[Hoppyone]

2 hours ago, tryasimight said:

Finance and risk...same everywhere. 

 

8000,000 in the bank?   Use that..... Low risk for the bank. 

No 800,000 and only monthly pension income.. Who would you lend to? 

50,000 baht a month guaranteed with bank statement a lot more than a. Thai 12,000 month ,not guaranteed, hmmm