No Loan For Over 60?

[tcris52]

I was looking for a car loan. I was going to put 25% down on a new Yaris, Vois or Jazz. I went to Thanachart Bank since I was told they were among the better places for auto financing. I gave the loan officer my contract (I'm a teacher at a university) and my work permit. She left for a while. When she returned she said everything was great but they do not give loans to people over 60. Has anybody had this experience?

Thanks.

Tony

[Magoomba]

If you have plenty of collateral, I can give you the name of a money lender here in Burriram that lends at 5% a month.

[tcris52]

If you have plenty of collateral, I can give you the name of a money lender here in Burriram that lends at 5% a month.

And I thought front-loading all the interest was bad.

[rixalex]

I was looking for a car loan. I was going to put 25% down on a new Yaris, Vois or Jazz. I went to Thanachart Bank since I was told they were among the better places for auto financing. I gave the loan officer my contract (I'm a teacher at a university) and my work permit. She left for a while. When she returned she said everything was great but they do not give loans to people over 60. Has anybody had this experience?

Thanks.

Tony

As i understand it though, don't they usually require a bigger deposit for foreigners? Something in the region of 50 %. As for not accepting people over 60, have never heard of that. What period of repayment were you looking at?

[jingjoke]

I was looking for a car loan. I was going to put 25% down on a new Yaris, Vois or Jazz. I went to Thanachart Bank since I was told they were among the better places for auto financing. I gave the loan officer my contract (I'm a teacher at a university) and my work permit. She left for a while. When she returned she said everything was great but they do not give loans to people over 60. Has anybody had this experience?

Thanks.

Tony

As i understand it though, don't they usually require a bigger deposit for foreigners? Something in the region of 50 %. As for not accepting people over 60, have never heard of that. What period of repayment were you looking at?

Canada's Bank of Nova Scotia has acquired 49% of Thanachart. Best to give Scotia's Bank in Bkk a phone call and inquiry as to age discrimination: age discrimination is a big No-No in Canada.

[TexasRanger]

I think it depends on the repayment period, they don't want to risk lending to older people in case they don't get their cash for health or other reasons. I was told the same by a friend who was getting a mortgage from BKK bank (he was Thai too).

[TopDogger]

I know someone over 60 whos just been given a loan last week, not sure which finance company though..

[Fun2Fun]

Aslong as you put down a min. of 50% most finance companies will happily accept it.

[Soutpeel]

I was looking for a car loan. I was going to put 25% down on a new Yaris, Vois or Jazz. I went to Thanachart Bank since I was told they were among the better places for auto financing. I gave the loan officer my contract (I'm a teacher at a university) and my work permit. She left for a while. When she returned she said everything was great but they do not give loans to people over 60. Has anybody had this experience?

Thanks.

Tony

As i understand it though, don't they usually require a bigger deposit for foreigners? Something in the region of 50 %. As for not accepting people over 60, have never heard of that. What period of repayment were you looking at?

Canada's Bank of Nova Scotia has acquired 49% of Thanachart. Best to give Scotia's Bank in Bkk a phone call and inquiry as to age discrimination: age discrimination is a big No-No in Canada.

Hey Toto....the OP is not in Canada...he is in Thailand and Scotia Bank only has a minority stake...therefore unable to set policy

At the end of the day, a bank, or any financial institution can set what ever criteria they want, after all its "their" money they are loaning out....