Can an expat on retirement extension get a secured loan using their car as collateral

[RegularGuy77]

Can I go to a local bank with my car blue book and get a secured loan against the car that I own?

 

What is the process and turnaround time?

 

Thanks in advance

 

 

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[CharlieH]

Probably not, but there are several companies around that do that kind of thing, suggest you try them. They do it same day more or less for Thais with Cars & bikes etc but not heard of a farang using them, worth exploring I would think.

[Kwasaki]

1 hour ago, RegularGuy77 said:

Can I go to a local bank with my car blue book and get a secured loan against the car that I own?

I guess you bought car cash and not through a finance company.

 

This one in English so it must be for falangie too, they keep the book until your paid up, they want to see the car & take pix, check kilos, check it's No.1 insured,

 

https://www.krungsri.com/bank/en/PersonalBanking/LoanProducts/AutoLoan/Krungsri-Car-4-Cash.html

[RegularGuy77]

I guess you bought car cash and not through a finance company.
 
This one in English so it must be for falangie too, they keep the book until your paid up, they want to see the car & take pix, check kilos, check it's No.1 insured,
 
https://www.krungsri.com/bank/en/PersonalBanking/LoanProducts/AutoLoan/Krungsri-Car-4-Cash.html

Thanks
Yes I did pay cash.


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[theoldgit]

One of the bullet points in the ad says “No Guarantor required (Thai national applicants only)”, not sure if the Thai national only just applies to the no guarantor required or to the whole offer?


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[Kwasaki]

1 hour ago, theoldgit said:

One of the bullet points in the ad says “No Guarantor required (Thai national applicants only)”, not sure if the Thai national only just applies to the no guarantor required or to the whole offer?

 

A good observation maybe the brown envelope will be of help to either party who that will be.

 

[rwill]

14 hours ago, theoldgit said:

One of the bullet points in the ad says “No Guarantor required (Thai national applicants only)”, not sure if the Thai national only just applies to the no guarantor required or to the whole offer?


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And when you open the qualifications section it says you need a work permit, so retirement visa excludes that.

• Foreigners are required to submit passport and work permit issued for a period of more than 3 months and remain valid for more than 6 months
•  

[HHTel]

20 hours ago, RegularGuy77 said:

Can I go to a local bank with my car blue book and get a secured loan against the car that I own?

 

What is the process and turnaround time?

 

Thanks in advance

Why not walk into a bank and ask them.  Not difficult surely.

[Pib]

1 hour ago, rwill said:

And when you open the qualifications section it says you need a work permit, so retirement visa excludes that.

• Foreigners are required to submit passport and work permit issued for a period of more than 3 months and remain valid for more than 6 months
•  

But at the same time above contradicts where they said earlier for Thai national only. 

 

Clear as mud bank info.  TIT

[natway09]

Cars are not an asset ,,, they are a liability

[chilli42]

A bank won’t touch this with a barge pole.  You will need to pursue one of the options that offer this kind of thing as their line of business.  There are plenty of them.  High interest rate and zero tolerance for missed payments ... they will jack your car if they have to.

[emptypockets]

What do you want to buy using the car a collateral? I can lend you a pair of shorts, thongs and a freshly laundered singlet if you're going to a wedding. Bring your own undies (optional).