How Do They Afford It?

[feffejonsson]

I could´t agree with you more. However it continues to bother me. In my experience almost all the really nice, honest and hardworking thai people comes from the lower classes preferably farmers. In my opinion the farmers are the backbone of the thai society.

Nice speeking to you Coventry.

Cheers!

[Travel2003]

How do they afford these late model Isuzus?

They can't.

It is a matter of fact that the priority of what to spend the money at, vary from country to country.

Thailand belongs to one of the countries where "show off" is an important factor.

We especially see this when it comes to new gadgets (as mobile phones, etc), and cars.

A Thai will easily borrow money from the bank with a 30-40 years down payment plan, in order to purchase a fancy car.

Same goes for the mobile phones. Quite normal that people borrow money (worth 3-4 months salary) just to buy the latest mobile phone.

Who has'nt experienced having neighbours that drive new and very expencive cars, which the monthly payment to the bank is 3-4 times as much as what they pay for their appartment/condo/house per month.

I have discussed this numerous of times with my thai friends, and they just laugh and say this is how it is.

They all are aware of what their friends have in salaries. And they all are also aware of the fact that all the cars they drive are in fact owned by the banks.

This is just how it is.

[torrenova]

My missus got a loan for a truck just by pushing some money through a couple of bank accounts for a few months and showing them the bank books. Borrowed somewhere around Bt650,000 over 4 years. She has no job (they didn't ask where the money came from) and there is no security apart from the truck itself. From Siam Commercial Bank.

[colino]

We got our pick up through Nissan 113.000 baht down (3% intrest) then 8,700 baht a month for 4 years father in law and his wife had to go garantor's and the finance company were ok about the wife being a house wife

madness but hey its not in my name lol

[torrenova]

Could have done it in my name with a much bigger deposit and guarantor else WP and all kinds of documents. Easier in her name.

[feffejonsson]

If you put 40% down you don´t need to have any garantor.

[corkman]

Every household in issan has at least 1 farang taking care as the girls like to put it,some have a lot more than one,i have girlfriends in pattaya who tell em they have atleast 20 plus farang sending them money monthly..straight to western union and the money is forwarded to issan for trucks,land and lending,then its back to whisky n gambling until the next shipment of cash from a nice so called good hearted farang arrives,if he only knew where is money went..

Sadly or not - depending on your perspective or opinion - this is pretty true for alot of cases. But I think its a stretch to say that "every household" in Isaan has a farang "sponsor" shall we say. Certianly there are quite a few - but my wife's village is still very poor indeed - and there are only half a dozen or so farang sponsored families.

I don't think it is a stretch however to say that a very large percentage of new expensive cars (and homes) are a result of farang input - be it through marriage to a farang, or through "pooled sponsorship"....... as you describe above.

Generally though, as Travel 2003 put it - alot (probably most) thai's will invest ridiculously disproportionately large amounts of money in "show off" items - cars probably being the ultimate. Take for exmaple your average thai family that is trying to sell the idea that they "need a truck" to their western sponsors - if say "ok, we'll go get you a good second hand one", they'll turn their nose up at it - they'd rather have no truck than drive around the village in a "used" one - because the typical villager response would be "look at them, trying to sh1t like an elephant, but they cannot even afford a NEW truck, they have to use an OLD one"..... in spite of the fact that the criticising party probably can't afford a motorbike...... your typical thai family would rather a "spare" NEW motorbike than a second hand car or truck..... its ridiculous, as we see it, but its their way.

If I spent as much of my income on my vehicle, I would be driving around in a Bentley or Rolls...... LOL.....

[Travel2003]

Every household in issan has at least 1 farang taking care as the girls

Maybe a bit too much.

In my wife's home town (prox 30 000 people), I believe it is 3-4 families connected to "farangs".

[Thaddeus]

Generally though, as Travel 2003 put it - alot (probably most) thai's will invest ridiculously disproportionately large amounts of money in "show off" items - cars probably being the ultimate.

Sad, but unfortunately true..... nice shiny truck outside the house, sod all in the fridge.

[abdulrahman]

If you put 40% down you don´t need to have any garantor.

True.For a Thai.For a Farang a little more difficult,but may be done.

For my pick-up I paid 50% front,the rest in 4 years,0% interest;but the dealer is a friend