Tisco Car Finance Phuket.... Bad Sales

[lostboy777]

I recently went to buy a Toyota and was pointed to Tisco for the financing. Tisco sales person came to my house, with a blank contract asking me to sign it before they could even gaurantee the financing could be given. I never signed the blank financing contract. They said they are not sure about the financing as my Thai wife wasn't working because she is pregnant, and she was my Thai gaurantee. I said 'see if our financing clears first', then bring the contract, we sign, and take the car. The sales person was acting like I was being rude. So they took all of mine and my wifes details, and two days later they called to say that our financing had been given the all clear by head office, so my wife went to pay a deposit for the car with Toyota, then when the sales person from Tisco came to my house I noticed that the monthly payment was 360baht more than it should have been. [about 10,000baht over 3 years].....when I asked the sales person from Tisco she said it was insurance! I said insurance for what??..I dont need insurance....We called Toyota and the sales person there said it was interest!!!....Then Tisco said it was because my Thai wife couldn't really be my gaurantee as she wasn't working,,,,, but i said 'you cleared the financing with our details, and said nothing about any additional payment'......so I said if my Thai wife can't be my gaurantee then she doesn't need to sign the contract as a gaurantee....they said yeah she does. 'So what is the extra money for then?'...I asked.

The 'extra money' they had added on, wasn't added onto the contract as the total amount of the money I was borrowing, only added onto the monthly payments amount,,,, so if I didn't get my calculator out, then Tisco wouldn't even have said anything about this 'extra money'. I know it is not a large amount of money, however it is the principle......and the fact that this sales person from Tisco was trying to mis-lead us.

I asked for my documents back, and am now looking at other finance companies......or I might just borrow money from a friend, then I might not have to deal with these 'professional' finance companies.

Has anyone had a similar experience??

Or,, be careful if you do apply for financing....check the amounts..

[issanpaul]

I would of swallowed the extra 360 baht per month as i think you were extremley lucky to of passed the finance clearance

[lostboy777]

yeah, but like I said its not the money its the principle......we have other Thai people we can use as a gaurantee no problem, and we told them that from the start, but they said it should be fine for my wife to gaurantee as my salary is high anyway, and my bank account is very active with money in / out.

[lostboy777]

yeah, but like I said its not the money its the principle......we have other Thai people we can use as a gaurantee no problem, and we told them that from the start, but they said it should be fine for my wife to gaurantee as my salary is high anyway, and my bank account is very active with money in / out.

I have just had a meeting with a guy from Siam Commercial Bank financing and he seemed very nice, and straight down the line,,, I explained my previous experience to him, and he seemed shocked and said that was wrong, so hopefully I have found the right finance company now....i will see on Monday when the contracts are finalized.

[chivo]

lostboy, even though you had signed all the documents, were you easily allowed to back out? were you legally obliged in any way or liable for any cancellation fee?

can i ask what percent interest they offered you and what interest did the other bank offer?

thanks

[aussiebebe]

any resolution to this story? The OP sounds like he went with SCB, can you do this? if you don't like the finance company used by the dealership or can you switch to another or only use the company the dealership says you can?

It would have been 12,960baht for 360baht per month over 3 years. Another poster on a different thread pointed out that Chevrolet are offering 0% deals, this is through Tisco - if you used a different company they would charge a different rate, correct?

Did the Tisco salesperson back down or not?

[steelepulse]

OP's story is over 1 year old.