Buying A Car On Finance

[tixe]

Hi all.

I'm looking at selling my 'older' car and I want to buy a car (second hand VIGO maybe 500K ish) on finance. I understand that it's hard for the westerner. I am married to a southern Thai and have a work permit. People say that to buy a car or pick-up in Phuket then the Thai national must be from Phuket also...though my wife is not. Any ideas as to how to get around this one? Any and all thoughts would be very helpfull.

Thanks.

[N47HAN]

Hi all.

I'm looking at selling my 'older' car and I want to buy a car (second hand VIGO maybe 500K ish) on finance. I understand that it's hard for the westerner. I am married to a southern Thai and have a work permit. People say that to buy a car or pick-up in Phuket then the Thai national must be from Phuket also...though my wife is not. Any ideas as to how to get around this one? Any and all thoughts would be very helpfull.

Thanks.

You mention you have a work permit . If this is through your own company should have no problems at all as long as you meet all the standard credit checks.

( we have bought 2 vehicles through Thanachart Bank with no troubles at all )

[tixe]

The work permit is not through 'my' company but througha Phuket company I've worked for many years.

Thank you, I will go and have a chat with the bank.

[LivinginKata]

The work permit is not through 'my' company but througha Phuket company I've worked for many years.

Thank you, I will go and have a chat with the bank.

Your Phuket employer would need to be guarantor, or any Phuket registered resident (Thai) could be guarantor. That's the only 2 options I can think of ...

[katabeachbum]

Hi all.

I'm looking at selling my 'older' car and I want to buy a car (second hand VIGO maybe 500K ish) on finance. I understand that it's hard for the westerner. I am married to a southern Thai and have a work permit. People say that to buy a car or pick-up in Phuket then the Thai national must be from Phuket also...though my wife is not. Any ideas as to how to get around this one? Any and all thoughts would be very helpfull.

Thanks.

I have bought 2 cars with finance in my name. No work permit, but a substantial amount of money in thai bank (which was used to buy property).

Bring your wp, taxpayments and bankbooks, and you should be approved. Long time thai creditcard is also good.

Beware that a second hand car finance is rather expensive. High interest and ad 7% vat on the purchaseprice. You may be better off (paying the financecompany less) with a new pickup.

If you need a name at Toyota-pearl dealer, who can push the financecompanies, send me a pm.

[tixe]

Thanks for the replies folks. It looks like I've found a bank in Phuket Town that will finance Westerners for car loans. Will be speaking with them this week and will report back details. Thanks again.

[LivinLOS]

Dont forget when Thais quote interest they quote simple interest which makes it about 2x the interest rate as a western interest number..

I had a guy telling me in a bar how it was great as he had 4% interest.. I then walked him through the payments and made him understand why it wasnt the deal he thought it was.. Spoilt his afternoon (gee aint I a stinker)..

[Damaz6052]

Thanks for the replies folks. It looks like I've found a bank in Phuket Town that will finance Westerners for car loans. Will be speaking with them this week and will report back details. Thanks again.

What was the name of the bank what conditions interest, down payment etc

Cheers

[HDRIDER]

Hi

Some of the dealers now sell with no interest for up to 5 years, i think it is

[steelepulse]

Any firm info on this HDRIDER?

[katabeachbum]

Any firm info on this HDRIDER?

BMW 320D. 0% 48 months. Just recieved a text message from BMW Phuket.

Nissan 0,99% 48 months. Mazda same, starting at 5.999 a month for 2+2 pickup.......

Check out the dealers yourself.

[HDRIDER]

Hi

Also heard Ford and Mercedes do the same but yes check it out

[steelepulse]

Thanks all.  Looking to pickup an accord or camry, but I really doubt these models will be offering low financing.  

[katabeachbum]

Thanks all. Looking to pickup an accord or camry, but I really doubt these models will be offering low financing.

Camry could be because its time for a new model soon. Accord still hot, like 3,75 now. You can take over my one year old Accord 2,4 at 2,75% interest. Thats 28.000 baht month for 36 more months pluss a negotiable downpayment. I need a suv or stationwagon.PM if interested

[tixe]

What was the name of the bank what conditions interest, down payment etc

Cheers

Actually, i planned to meet with the finance guy but he didn't show up! Will have to try and contact him again. The name of the bank is an odd one, can't recall at present but when i get it I'll post it along with the finance details.

[katabeachbum]

What was the name of the bank what conditions interest, down payment etc

Cheers

Actually, i planned to meet with the finance guy but he didn't show up! Will have to try and contact him again. The name of the bank is an odd one, can't recall at present but when i get it I'll post it along with the finance details.

When you buy a car on finance, the finance company is the owner of the car until its payed in full and transfered to you. During the last financial crisis some financecompanies whent bancrupsy, and all their cars where sold at auctions. If you wanted to keep your car you had to pay for it one more time.

Tisco and Tanachart are large public companies with a chance to survive present crisis.