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Posted

Hi,

I am thinking of buying a motorcycle. if it´ll gonna be second hand or new is not decided , yet.

i got an offer of a dealer that is selling lots of new and second hand motorcycles. for second hand ones he is offering just THB 3000,- downpayment and a monthly payment of about THB 1.200. i forgot the length of the agreement. But probably it´ll be about two years to get good money out of the deal for him.

That doesn´t really matter. due to my high expenses through moving here i don´t want to spend any more money at once . so about THB 1.200 for two years and the option to pay it of full whenever I want, is pretty ok with me.

The only thing is, if I can get it done on my name. I got a girlfriend for a long time already, but I am very careful in having anything on her name. Especially in this time, when we are starting to have a lot of fights and it seems that the relationship won´t hold much long.

Therefore I want to have it on my name. Hope you can help me out if that is possible and if so what is needed.

thanks alot...

Posted

To put the bike in your name, you will need a letter from Immigration stating where you live. You will need to provide Immigration with proof of residency in order to get this letter.

You will usually need a Thai gaurantor.

You will more than likely be asked to make a 50% down payment.

If you are looking for a bike in the 50,000 baht range, a 50% deposit should not be too bad. Your monthly payments will be lower as well. The interest rate on bikes is very high.... dopuble check on this but something in the order of 18-24% / annum.

Posted

Well, I could be wrong but, at this point the only thing in your name will be the finance/loan agreement. No one is going to allow you to register the bike in your name until it's paid for in full.

Posted
To put the bike in your name, you will need a letter from Immigration stating where you live. You will need to provide Immigration with proof of residency in order to get this letter.

You will usually need a Thai gaurantor.

You will more than likely be asked to make a 50% down payment.

If you are looking for a bike in the 50,000 baht range, a 50% deposit should not be too bad. Your monthly payments will be lower as well. The interest rate on bikes is very high.... dopuble check on this but something in the order of 18-24% / annum.

Yep - definetly be careful on the interest rates a shop will gouge, i mean charge, you. I'm buying a Fino for the daughter - 45,000 baht. Offered 25 down, they were happy to finance the other 20 over 12 months - at 2,500 per! I'm no math genius, but I think thats 30,000, or +33%. I declined their offer, and will pay cash at end of the month.

Posted

I recently bought a new CBR150 at 64,500B. They traded my old CBR for 27000. The balance I got, (after some weeks of negotiations) payable over 4 months. The bike registered in my name (Farang) and no guarantor. I could have paid cash no problem, but I enjoyed the "game" (which is what I made it) of negotiations.

So if you are patient it can be done ok. Longer pay off period of course may be different, although I think?? I could have got over 6 months with a bit more effort..

The service Ive had since having the bike is exceptionally good, as now on first name terms with most of the staff.

Posted
nd the option to pay it of full whenever I want

Be very careful about exactly what "the option to pay it of in full whenever you want" means. Normally it just means that you can give them the remaining payments before they are due, meaning that you will get no discount on the interest initially calculated. So you would be paying full interest for the agreed two years, even though you are paying the loan off early - not a good deal.

Sophon

Posted

Listen to Sophon!!

Once you sign the agreement for X payments of X amount, you will have to pay that amount no matter what!!

If you want to leave Thailand and sell the bike, you will have to make all of the payments including the interest on them, whether or not the time has past for the interest to accrue!!

BEWARE!!!

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