Is there any way to buy a new bike on monthly payments as a foreigner in Thailand?

[TheLaughingMan]

Just curious if there is a way to do this, I'm a big fan of monthly payments ????  I'm assuming no but thought Id ask.  I am not in Thailand yet but will be there soon so just looking at options.

[KhunLA]

Guessing, but can only think of 2 possible ways:

... if having work permit

... borrowing from bank, using your savings as collateral

2nd being a bit silly to do, since at best, savings getting ~1%

Loan surely would be more, so negative interest on your

savings than you now can't withdraw.  

 

Just pay cash as they aren't expensive (50k THB), unless going 

big bike, larger than 125cc here.

Edited August 12, 2022 by KhunLA

[Henryford]

Believe me you don't want to with 2% interest per MONTH.

[stoner]

48 minutes ago, TheLaughingMan said:

Just curious if there is a way to do this, I'm a big fan of monthly payments ????  I'm assuming no but thought Id ask.  I am not in Thailand yet but will be there soon so just looking at options.

when you get to bkk. head down to nana soi 4. ask for som. she will help you out and make sure everything goes smooth. 

[Bill97]

11 minutes ago, stoner said:

when you get to bkk. head down to nana soi 4. ask for som. she will help you out and make sure everything goes smooth. 

Yeh just hang out on that street calling out “Som, Som, Som” every 5 minutes or so and somebody will take care of you.

[Gottfrid]

If we say that Som can´t help you. Then you can always try Pui. A professional that really knows how to help people. Have been doing it for 20 years, and today she is larger than life.

Your other options is to get a work quicker than you need the bike, and then go motorbike shop and make the deal there. There will be a 70/30 change, with the larger amount representing a NO!

As a last option, you can consider it like this. If a person can´t afford to buy a motorbike, or transport, in a country they wish to settle down in. Then, one might think the change of live is not the right one or being made at the wrong time. 

[Swiss1960]

Taking out a loan and pay interest on it does ONLY make sense if either you can't afford to pay cash OR if your money gives you more interest than you'll have to pay.

 

Given the high interest rates in Thailand (15% or more) and the current investment climate, that seems highly unlikely, therefore your idea of getting motorbike on loan is either a desperate act or outright stupid 

[TheLaughingMan]

29 minutes ago, Swiss1960 said:

Taking out a loan and pay interest on it does ONLY make sense if either you can't afford to pay cash OR if your money gives you more interest than you'll have to pay.

 

Given the high interest rates in Thailand (15% or more) and the current investment climate, that seems highly unlikely, therefore your idea of getting motorbike on loan is either a desperate act or outright stupid 

Ya seems like its just a bad idea, cash it is.  For the rest of you jokers, I lived in Thailand for 13 years previously, I know enough Soms dont need to know any more.

[kickstart]

On 8/12/2022 at 10:08 AM, Swiss1960 said:

Taking out a loan and pay interest on it does ONLY make sense if either you can't afford to pay cash OR if your money gives you more interest than you'll have to pay.

 

Given the high interest rates in Thailand (15% or more) and the current investment climate, that seems highly unlikely, therefore your idea of getting motorbike on loan is either a desperate act or outright stupid 

I do not think a Farang can get a bike on the never-never, if you can, you will need a wife or girlfriend to act as an guarantor a lot of hassle .

I know most Thais buy a bike on HP ,interest is about 30%, say Wave 125 cash is now 60 000 baht, put say 3000 down as a deposit ,2000 /baht month  over 3  years , a realistic term for buying a new bike. then at the end of it another 1500 baht , for "Own"Thai for getting the log book.76 500 baht,in total. and the wife has said they could a life insurance on top of that.   

 

[kiteman9]

I just waited and Santa brought me a bike for Christmas.

[Derek B]

As a foreigner I paid cash with a Thai bike licence AND a certificate of residence from immigration. Job done.

 

However had to take Thai gf along as no one in sales spoke good enough English. Needless to say she wanted it in her name - LMAO.

[kickstart]

On 8/22/2022 at 4:19 PM, Derek B said:

As a foreigner I paid cash with a Thai bike licence AND a certificate of residence from immigration. Job done.

 

However had to take Thai gf along as no one in sales spoke good enough English. Needless to say she wanted it in her name - LMAO.

Yet again, different rules for different shops,I brought a  new bike cash ,just copy of passport ,and visa, and yellow house registration book, no immigration certificate.

The joys of speaking Thai ,I went on my own ,it is all in my name. 

[FriendlyFarang]

41 minutes ago, kickstart said:

Yet again, different rules for different shops,I brought a  new bike cash ,just copy of passport ,and visa, and yellow house registration book, no immigration certificate.

Same rules everywhere, either yellow house book or certificate of residence from immigration or embassy. (Afaik only exception is Chonburi where the yellow house book is not accepted for DLT matters)

[TheLaughingMan]

On 8/23/2022 at 8:02 AM, FriendlyFarang said:

Same rules everywhere, either yellow house book or certificate of residence from immigration or embassy. (Afaik only exception is Chonburi where the yellow house book is not accepted for DLT matters)

Wait so as a tourist I cant even just slap down the full amount in cash and buy a motorcycle?  You have to own property or certificate of residence and have the proper visa?

[eisfeld]

8 minutes ago, TheLaughingMan said:

Wait so as a tourist I cant even just slap down the full amount in cash and buy a motorcycle?  You have to own property or certificate of residence and have the proper visa?

You certainly can slap down cash and take your motorcycle with you. What you can't do without address proof is actually getting the bike registered and use it on public roads. You certainly do *not* need to own property (no one said so). I've registered big bikes on a tourist visa + certificate of residence from immigration.

[TheLaughingMan]

2 minutes ago, eisfeld said:

You certainly can slap down cash and take your motorcycle with you. What you can't do without address proof is actually getting the bike registered and use it on public roads. You certainly do *not* need to own property (no one said so). I've registered big bikes on a tourist visa + certificate of residence from immigration.

Do you really believe registering the bike is necessary to drive it on thai roads?

[eisfeld]

4 minutes ago, TheLaughingMan said:

Do you really believe registering the bike is necessary to drive it on thai roads?

Yes unless you want to get hassled by police and pay fines every now and then. It's easy and cheap so why wouldn't you want to register it? Without registration there's also no insurance of course.

Edited September 2, 2022 by eisfeld

[TheLaughingMan]

Just now, eisfeld said:

Yes unless you want to get hassled by police and pay fines every now and then. It's easy and cheap so why wouldn't you want to register it?

Ya... my thinking before when I lived in Bangkok was the police are going to extort me anyway so why bother, but this time around I'll register it and see how much of a difference it makes.

[eisfeld]

5 minutes ago, TheLaughingMan said:

Ya... my thinking before when I lived in Bangkok was the police are going to extort me anyway so why bother, but this time around I'll register it and see how much of a difference it makes.

They can't take money from you if you got your stuff in order. Have a license, wear a helmet, don't have a stupidly loud exhaust, have up2date road tax etc. I have not paid any fines in many many years. Only people who can't be bothered to follow some simple rules get "extorted". I have a buddy of mine who behaves that way and paid already a multiple in fines over time than it would have cost to get his stuff in order. ¯\_(ツ)_/¯

[Ralf001]

On 8/13/2022 at 9:07 PM, kickstart said:

I do not think a Farang can get a bike on the never-never, if you can, you will need a wife or girlfriend to act as an guarantor a lot of hassle .

I know most Thais buy a bike on HP ,interest is about 30%, say Wave 125 cash is now 60 000 baht, put say 3000 down as a deposit ,2000 /baht month  over 3  years , a realistic term for buying a new bike. then at the end of it another 1500 baht , for "Own"Thai for getting the log book.76 500 baht,in total. and the wife has said they could a life insurance on top of that.   

 

I have a big bike on the never never.

25% down over 48 months.

No Thai guarantor.

[TheLaughingMan]

3 hours ago, Ralf001 said:

I have a big bike on the never never.

25% down over 48 months.

No Thai guarantor.

I was shocked to see that when you finance in Thailand you turn a 200k baht bike into a 300k baht bike.  They really make it not worth it.

[Ralf001]

1 hour ago, TheLaughingMan said:

I was shocked to see that when you finance in Thailand you turn a 200k baht bike into a 300k baht bike.  They really make it not worth it.

480k floor price

120k deposit.

8350 x 48.

520k all in.

 

 

 

[FriendlyFarang]

7 hours ago, Ralf001 said:

480k floor price

120k deposit.

8350 x 48.

520k all in.

 

 

 

Big bikes are usually cheaper to finance than small bikes.

But you still pay 20% interest per year though....

 

[Ralf001]

1 hour ago, FriendlyFarang said:

Big bikes are usually cheaper to finance than small bikes.

But you still pay 20% interest per year though....

 

Break out your calculator and tell me what interest iam paying.... it aint 20%

 

[kickstart]

37 minutes ago, Ralf001 said:

Break out your calculator and tell me what interest iam paying.... it aint 20%

 

I  make it 7 1/2%, not bad at all .

As a big bike is a lot more expensive than your average Wave ,and a more limited market ,interest rates will have to be low ,or no one would buy one .

What would interest rate be for a imported BMW or Harley on HP.

Surprised no guarantor needed for a big bike on HP ,must be different rules ??than a small bike ,have you got the log book yet ?

[eisfeld]

27 minutes ago, kickstart said:

I  make it 7 1/2%, not bad at all .

I was just waiting for someone to give it a try and get it wrong. At least you came closer ????

Edited September 3, 2022 by eisfeld

[DrJoy]

On 8/12/2022 at 7:17 AM, TheLaughingMan said:

looking at options

If you get a WP later on, u can get a motorbike loan

[TheLaughingMan]

12 hours ago, Ralf001 said:

480k floor price

120k deposit.

8350 x 48.

520k all in.

 

 

 

I guess Ive been doing alot of browsing on facebook marketplace and the bikes up for sale there all offering financing are at terrible rates and land up raising the total cost of the bike way too much.

[JeffersLos]

On 9/3/2022 at 3:50 AM, TheLaughingMan said:

Wait so as a tourist I cant even just slap down the full amount in cash and buy a motorcycle?  You have to own property or certificate of residence and have the proper visa?

Amazing, isn't it.

 

I'm sure a.... let's say Kenyan, can arrive in my country on a tourist visa valid for 30-60 days, and on Day 2 buy a car and have it legally registered in his name.

 

I'm also pretty sure that not too long ago they would have be eligible for social welfare payments. 

[richard_smith237]

On 8/23/2022 at 9:19 PM, kickstart said:

On 8/22/2022 at 4:19 PM, Derek B said:

As a foreigner I paid cash with a Thai bike licence AND a certificate of residence from immigration. Job done.

 

However had to take Thai gf along as no one in sales spoke good enough English. Needless to say she wanted it in her name - LMAO.

Yet again, different rules for different shops,I brought a  new bike cash ,just copy of passport ,and visa, and yellow house registration book, no immigration certificate.

The joys of speaking Thai ,I went on my own ,it is all in my name. 

The rules and the requirements are exactly the same whether you speak Thai or not !!! 

You just switched out the residence certificate from Immigration for your Yellow House book as proof of address.....