Buying A Car Without A Thai Guarantor.

[needacarsoon]

I just picked up an advert, written in Thai, from Cash2car car finance company.

The ad claims that foreigners can get finance with just a passport, work permit and 6 months banking history. It didn't say how much deposit is required but presumably it will be needed. Personally, I can pay up to 50% if needed but would rather not as I like to have money in the bank for emergencies and I fulfill all the other above mentioned requirements. I will pay them a visit tomorrow to check them out properly.

Has anyone used these people before? Has anyone managed to get finance recently without a guarantor and if so please let me know which company you used and if there were any special conditions.

Hope to hear back from someone soon as my last car was stolen, I can't get a Thai to guarantee me and I'm going crazy not having a set of wheels. Thanks.

[torrenova]

Back in early 2007, Toyota and Honda in Pattaya said they would be able to fix finance without a WP if I put down a significant deposit and could show some bank books (as well as ID obviously). The figure of 40% to 50% sticks in my mind.

I always presumed this was just someone fudging the finance, pocketing a kickback and hoping that the westerner didn't default.

[TopDogger]

Tanachart wouldn't do it for me recently even with a 50% deposit, apparently they don't do it at the moment due to all the problems with bad debt around the world.. At least, this is what I was told.

There was a Thai guy posting on here a while back saying he could sort it, provided it was for a Toyota. He posted his tel #.

[Soutpeel]

I just picked up an advert, written in Thai, from Cash2car car finance company.

The ad claims that foreigners can get finance with just a passport, work permit and 6 months banking history. It didn't say how much deposit is required but presumably it will be needed. Personally, I can pay up to 50% if needed but would rather not as I like to have money in the bank for emergencies and I fulfill all the other above mentioned requirements. I will pay them a visit tomorrow to check them out properly.

Has anyone used these people before? Has anyone managed to get finance recently without a guarantor and if so please let me know which company you used and if there were any special conditions.

Hope to hear back from someone soon as my last car was stolen, I can't get a Thai to guarantee me and I'm going crazy not having a set of wheels. Thanks.

My very first car was financed through Tanachart, with a 30% deposit + a Thai guarantor, subsequent cars, didnt need a Thai guarantor, just the deposit 30% through Tanachart...

On the Cash2Car, they will most certainly require a deposit from you, now seeing as the likes of Thanachart need a minimum of around 30%, would expect this company to need 30%+ at least, there is no way you will finance a car in Thailand..zero money down...

I suspect the company concerned will finance your car through another company ie the likes of Thanachart, and Cash2Car will act as "Thai guarantor" for you, and the difference in the deposit they take off you, versus the deposit they pay Thanachart would be their "profit" and guess your monthly repayments will be higher than they would be direct to a finance company and they are skimming the difference ??...

[Tywais]

I just ordered a Civic 2.0 last week and did the financial arrangements. In my case it was through Honda Finance directly, 50% down, copies of passport, work permit and my bank book. I had been asked for a copy of 6 months pay statements but the secretary had not finished it yet - when he saw my bank book, that was sufficient.

I had been told by a couple of sales persons that I didn't need a guarantor using a large down payment and a work permit. When I was filling out the forms with the finance guy, he started talking about a Thai guarantor - when I started objecting he called Bangkok and they confirmed to him I didn't need one.

Two years ago when I was considering a new car, I informed them of 40% down - they contacted finance and that was no problem either not having a Thai guarantor. So, I would recommend pushing the issue and see how low a down they will allow you without a Thai guarantor.

[sibeymai]

In 2006 I bought a new Honda through a dealer and provided my deposit was minimum 25% I didn't need a guarantor. The percentage might be more for second hand cars. Finance was through Tanachart.

[TopDogger]

Something I forgot to mention... In the end I used a Thai guaranteur and paid a 20% deposit. But during the negotiations I was told that I could use a foreigner as guaranteur provided they had been working in Thailand for 8+ years.

[snowflake]

I put 30% down on my car with no guarantor either...

I have heard that there is a higher limit if you buy a 4wd pick up truck!

[Soutpeel]

Something I forgot to mention... In the end I used a Thai guaranteur and paid a 20% deposit. But during the negotiations I was told that I could use a foreigner as guaranteur provided they had been working in Thailand for 8+ years.

Think the person who told you about 8 year thing is telling porkie pies, or just dont know what they are talking about...never heard of that one before...could we suggest making it up as they go along..

[Soutpeel]

I put 30% down on my car with no guarantor either...

I have heard that there is a higher limit if you buy a 4wd pick up truck!

Generally 25% for a car and 30% on a 4X4, so looks like you paid the 4X4 rate.....bought a Fortuna last year as was 30% down and no guarantor...

[TopDogger]

Something I forgot to mention... In the end I used a Thai guaranteur and paid a 20% deposit. But during the negotiations I was told that I could use a foreigner as guaranteur provided they had been working in Thailand for 8+ years.

Think the person who told you about 8 year thing is telling porkie pies, or just dont know what they are talking about...never heard of that one before...could we suggest making it up as they go along..

Haha.. I was supprised myself, he was liaising direct with the finaince companies (it was the Thai guy who posted his number in an earlier thread about this) and according to him was repeating what they had told him.. From what I can gather, this whole guaranteur thing doesn't really have a whole lot to do with cash when foreigners are involved, as we have to pay a 20%+ deposit, a Thai paying 10%+ wouldn't need a guaranteur?

The requirement according to Tanachart is down to the problems that may arrise if you go home to your own country, they'd need someone to help sort it all out, get the card sold, contracts sorted etc. This may be why guy's who are married to a Thai find it easier to sort guaranteur-wise than guys who aren't..

[Soutpeel]

a Thai paying 10%+ wouldn't need a guaranteur?

The requirement according to Tanachart is down to the problems that may arrise if you go home to your own country, they'd need someone to help sort it all out, get the card sold, contracts sorted etc. This may be why guy's who are married to a Thai find it easier to sort guaranteur-wise than guys who aren't..

TD, Thai nationals also need a guarantor in certain cases, know from personal experience, as my wifes sister, stays in her family home to look after their father who is seriously ill, she had the deposit for a car, but needed a guarantor, in this case my wife co-signed, but the irony was, Tanchart said I could sign as the guarantor as well if I wanted to, as I had financed cars through them before....

[redscouse]

Ford at the moment are doing expat finance without local guarantor, 25% deposit and 0% finance for 3 years. I visited the dealer on Suk soi 62 a few days back. I have contact details if anyone wants them