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Posted

My missus has a vehicle on finance with about 2 1/5 years to go. The trouble is she wants a mortgage so getting rid of the Bt16,000 a month liability would be a good thing.

The vehicle is financed by Siam Commercial Bank's leasing department and they say that the redemption figure is only marginally less than the total of outstanding payments so there is no benefit in paying it off in one go.

What I'd like to do is have it transferred to myself with the outstanding finance. I pay the monthly premium anyway. The trouble is that I don't have a WP or job so I want to know how I could convince Siam Leasing to go for it ?

Anyone have any ideas ?

I guess we owe 30 * 16,000 = 480,000

Vehicle value - 680,000

Posted

The only way you can do this is with Thai guarantor or work permit. I am talking from personal experience. Back in 2004 I bought brand new car and Sisko finance actualy issued the loan on my name. Dealer himself who happens to be my friend acted as guarantor, loan approved within 48 hours. I never had work permit, non-O visa only (based on marriage).

Posted

When we bought it the garages in Pattaya (Toyota and Isuzu) said that with a hefty deposit it would not be a problem irrespective of WP or guarantor in my name.

Now if that figure was say 40% on 800k it would be 320k and we are at that figure now with us owing 480k on original 800k (actually less because the 480k owed includes the interest as well).

We went through it but wanted to put down a lower deposit.

From my side, if I were able to communicate effectively, I would suggest that the only way they would get the rest of the money would be to transfer it and take the risk. Saying that she could no longer service the loan or something.

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