Buying A car from a Thai that has a loan

[atpeace]

Assume I go to the bank with the owner and payoff the loan.  We will need a purchase contract and ID's.  The Thai seems like a nice guy but with too many cars 😉 He is a little clueless so I want make sure I get it right on my end.  

 

I live in Ubon and the car is in Sri Racha which means I will have to catch a flight and don't want to spend days finalizing this ownership transfer.  I have another flight to America later this week.  

 

Does the bank send the updated car book to me after paying it off?

I will get the appropriate docs from the seller to switch provinces.  Sales contract, copies of house book, ID, and seller power of attorney.  Am I missing something?

 

Thanks

[Henryford]

Don't do it. Only buy a car with a clean title.

[Ralf001]

find out the payout amount.

go to bank and get a cheque for that amount.

go to finance company with seller and settle the account.

give finance company your documents.

finance company wil provide book in your name.. process take 2 to 4 weeks.

pay seller the outstanding purchase price amount.

[SAFETY FIRST]

41 minutes ago, atpeace said:

Assume I go to the bank with the owner and payoff the loan.  We will need a purchase contract and ID's.  The Thai seems like a nice guy but with too many cars 😉 He is a little clueless so I want make sure I get it right on my end.  

 

I live in Ubon and the car is in Sri Racha which means I will have to catch a flight and don't want to spend days finalizing this ownership transfer.  I have another flight to America later this week.  

 

Does the bank send the updated car book to me after paying it off?

I will get the appropriate docs from the seller to switch provinces.  Sales contract, copies of house book, ID, and seller power of attorney.  Am I missing something?

 

Thanks

The finance company will have the blue book. 

You will have to go together to the finance company pay off the loan but then you'll need to go to the DLT and change names in the book. 

 

Are registered with immigration in Ubon, you will need a CofR. 

 

Lots of problems and challenges, I'd avoid the experience unless it's a great buy. 

 

Look at one2car for similar cars and pricing 

 

Edited 1 hour ago by SAFETY FIRST