pervaud Posted October 12, 2020 Share Posted October 12, 2020 Hi All, I'm newbie here, lived in Bangkok and looking to buy used card with financing arrangement. Been to 5-7 car dealer but all of them said financing companies will require Thai guarantor. Tell them i'm willing to pay 50% of deposit if neccesary, but still no luck I have work permit & married to foreigner as well. We are looking a way to get car financing without Thai guarantor. Is there any recommendation of dealer/finance company who are easy on this? Link to comment Share on other sites More sharing options...
Popular Post colinneil Posted October 12, 2020 Popular Post Share Posted October 12, 2020 OP reason for them wanting a Thai guarantor is, if foreigner dont pay, can just leave the country. With a Thai guarantor, foreigner dont pay, they just go after the Thai guarantor. 4 Link to comment Share on other sites More sharing options...
Mattd Posted October 12, 2020 Share Posted October 12, 2020 I have financed 5 cars without a Thai guarantor, 40% deposit / down payment, never an issue, last one was with SCB bank. 2 Link to comment Share on other sites More sharing options...
pervaud Posted October 12, 2020 Author Share Posted October 12, 2020 1 hour ago, Mattd said: I have financed 5 cars without a Thai guarantor, 40% deposit / down payment, never an issue, last one was with SCB bank. Hi, i been told for the 1st car purchase it always require Thai guarantor. Do you mind PM me the dealer name or bank contact on your case? Link to comment Share on other sites More sharing options...
Anders W Ferslev Posted October 13, 2020 Share Posted October 13, 2020 i got loan for 2 cars direct from toyota, min 30% down payment, then the dont need thai-guarantor 1 Link to comment Share on other sites More sharing options...
Popular Post nickmondo Posted October 13, 2020 Popular Post Share Posted October 13, 2020 i was told by the dealer here (wont say which one - but major car dealer) that a guarantor would be arranged for me for 30,000 baht. the price went down to 20,000 baht after i declined i did not do this though, because god knows what the contract would say and maybe i would not end up owning the car 3 Link to comment Share on other sites More sharing options...
9a9a Posted October 13, 2020 Share Posted October 13, 2020 I bought a new ford wildtrack, vehicle in my name and no guarantor, 25% down and finance through Tisco bank no problem. Link to comment Share on other sites More sharing options...
Mattd Posted October 13, 2020 Share Posted October 13, 2020 21 hours ago, pervaud said: Hi, i been told for the 1st car purchase it always require Thai guarantor. Do you mind PM me the dealer name or bank contact on your case? A lot depends on where you are located. First one was at Toyota Pattaya, loan was arranged by them with Tisco I then got 3 different BMW, all three were financed via BMW Financial Services, dealer was German Auto (Bangna) Last one is a MB from the dealer in Pattaya, financed through SCB arranged via the dealer. Suggest you shop around. 2 Link to comment Share on other sites More sharing options...
natway09 Posted October 13, 2020 Share Posted October 13, 2020 The average second hand dealer is a different story to buying new direct from the manufacturer 1 Link to comment Share on other sites More sharing options...
scorecard Posted October 13, 2020 Share Posted October 13, 2020 On 10/12/2020 at 4:15 PM, colinneil said: OP reason for them wanting a Thai guarantor is, if foreigner dont pay, can just leave the country. With a Thai guarantor, foreigner dont pay, they just go after the Thai guarantor. Agree, the banks/finance institutions are practicing basic risk management. Nothing to stop the foreign guarantor from leaving Thailand and then no chance of getting the guarantor to pay. On the other hand they can sue a Thai guarantor in the Thai courts. Just common sense. Are you aware that Thai banks/finance institutions have high rates of non performing loans (at any time) therefore they try (as they should) to limit the risk. 1 Link to comment Share on other sites More sharing options...
pervaud Posted October 19, 2020 Author Share Posted October 19, 2020 Hi All, Thanks for all the input. Finally we decide to go to new car showroom and one of them allow me to do financing without Thai guarantee as long as down payment is 30%. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted October 19, 2020 Share Posted October 19, 2020 It seems there is a difference between a guarantor and a guarantor. I twice financed motorcycles. Both times they asked for a Thai contact. Both times I gave them the name and phone number of my girlfriend. They called her but she never had to sign anything. I don't know how usual or unusual that is. Link to comment Share on other sites More sharing options...
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