Monthly Installments?

[jt936]

I HAVE A WORK PERMIT AND WANT TO BUY A CAR. I AM NOT MARRIED AND HAVE MONEY FOR A DOWNPAYMENT, BUT WANT TO PAY MONTHLY INSTALLMENTS. CAN I DO THIS IN THAILAND???

THANKS.

[ajahnlau]

I HAVE A WORK PERMIT AND WANT TO BUY A CAR. I AM NOT MARRIED AND HAVE MONEY FOR A DOWNPAYMENT, BUT WANT TO PAY MONTHLY INSTALLMENTS. CAN I DO THIS IN THAILAND???

THANKS.

Sure, but first try the search engine and don't use CAPS.

[Cuban]

Easier if you have a history with a Thai Bank to talk to them directly, this would get the lowest rate but you might need to try different branches even of the same bank as they apply their rules differently. They will loan a percentage of the value of the car and probably seek a Thai guarentor (at least a letter from your employer), you say you are not married - but if in a ralationship this might help depending on your partner's financal status (teachers or other 'government' employees has very easy access to credit). If buying a new car the main dealerships will have their finance departments offer you a 'deal' - suggest you try a few to see what the going rate is for your status before you arrive bright eyed with empty pockets at your prefered mark. Other sources of 'loans' exist within Thailand, but the rates are high and they will probably want to hold your passport, work permit as well as a couple of limbs to ensure payments are made.

Strongly suggest that you consider the real life figures involved with owning a car in Thailand if you are unsure that you will be keeping the vehicle for the life of the loan (1,3,5 years) and what your expectation of sellng value is when you come to sell it. Hire when needing a car is cheaper for some people.

HTH.