Thai Fiancee Wants Isuzu

[tinytot]

My Thai fiancee who is living with me in Australia wants to et finance for new Isuzu when we go back Thailand next week, All she has is letter from Australian Government saying she get a fortnightly payment which starts first payment on 28 september, We have 150000 baht deposit and she wants to go to Isuzu showroom to get new pickup, I am not sure with the deposit and letter saying what her payments are from Government if that will be enough for them to give her finance, Please let me know if anyone has any info.. thanks...tinytot

[siamcrut]

my thai wife and me bought a Isuzu dmax in april 2007. she works in thai gov. ,we didntnt need any garantie. 300,000 down and 3 year credit 2.3 %

maybe you can use your, her thai property (as a security) to get a good rate. don't forget to visit toyota, mitsu, nissan and the rest (....tata).....for their % rate....

!!

[robblok]

my thai wife and me bought a Isuzu dmax in april 2007. she works in thai gov. ,we didntnt need any garantie. 300,000 down and 3 year credit 2.3 %

maybe you can use your, her thai property (as a security) to get a good rate. don't forget to visit toyota, mitsu, nissan and the rest (....tata).....for their % rate....

!!

If you put down 300k then you dont need a garantee. I mean what is the point they don't risk a thing then. Even a farang could buy a car on finance if he did 300k down.

[JohnLeech]

"we go back Thailand next week, All she has is letter from Australian Government saying she get a fortnightly payment which starts first payment on 28 september"

What exactly do you mean by a "fortnightly payment"? Are you talking about some sort of Government welfare payment, or do you mean a salary?

If its a salary, then working for two weeks before returning to Thailand doesn't seem that impressive. If she is returning to Australia to continue working there who will be responsible for the loan in Thailand? If remaining in Thailand, then she will obviously not have any salary in Australia.

If its a welfare payment (just a thought, probably wrong, but the Baby Bonus is paid fortnightly, 13 payments of about AUS$384 per fortnight!) then its duration may be less than the term of the loan and it may also be to you jointly. Give the finance companies credit for a little intelligence if that is the case.

[MoonRiverOasis]

Every Thai bank/finance company requires either 3 or 6 months of Thai banking history to back-up your income claims (even if properly documented by letters, Thai income tax receipts etc), and also require that you have been gainfully employed for a minimum of either 6 or 12 months. (times depend on amount borrowed, and individual lender policy).

Given this, if your only source of documented combined income is the payments that will start in a couple of days time, I would be very surprised if you were successful, regardless of deposit paid or the amount of the payments to be received.

Do note however that as a married couple, there are some banks that will have no problems assessing the loan based on mutual income. So if you've been employed and/or receiving ongoing payments for the required time-frame, this may be the way to approach it.

The Farang + married-couple-combined-income friendly banks are Bank of Ayudyah, Siam Commercial Bank, and Thanachart.

Edited September 25, 2010 by MoonRiverOasis

[tinytot]

"we go back Thailand next week, All she has is letter from Australian Government saying she get a fortnightly payment which starts first payment on 28 september"

What exactly do you mean by a "fortnightly payment"? Are you talking about some sort of Government welfare payment, or do you mean a salary?

If its a salary, then working for two weeks before returning to Thailand doesn't seem that impressive. If she is returning to Australia to continue working there who will be responsible for the loan in Thailand? If remaining in Thailand, then she will obviously not have any salary in Australia.

If its a welfare payment (just a thought, probably wrong, but the Baby Bonus is paid fortnightly, 13 payments of about AUS$384 per fortnight!) then its duration may be less than the term of the loan and it may also be to you jointly. Give the finance companies credit for a little intelligence if that is the case.

Well we are not married in Thailand or Australia.. She gets the money from Aus Government for family assistance, If we went to thai banks as you have stated would we be lucky enough or not? I am working for company which i have for 12 months so i was going to bring pay slips weekly ones and print out from my bank with my account, So 30percent would be effecient or any deposit to get finance you think? Ok let me know i will check back tommorow as we are leaving on wednesday to come back...tinytot

[MoonRiverOasis]

Well we are not married in Thailand or Australia.. She gets the money from Aus Government for family assistance, If we went to thai banks as you have stated would we be lucky enough or not? I am working for company which i have for 12 months so i was going to bring pay slips weekly ones and print out from my bank with my account, So 30percent would be effecient or any deposit to get finance you think? Ok let me know i will check back tommorow as we are leaving on wednesday to come back...tinytot

A prerequisite for lending from one of the major banks is that you need regular deposits into a Thai bank account to backup your income claims (without this it doesn't matter what supporting documentation you have), and that money has to have been deposited for a requisite period of time, and of course needs to be enough to repay the amount financed comfortably (Thai banks will typically lend up to ~40% of income).

If you're not yet married, you won't be able to guarantee the loan unless you have a Thai Work Permit and an appropriate B or O visa.

If your fiance has no recent income history other than the payments that start tomorrow, she won't qualify.

if you're not legally married (and with appropriate O visa with 1-year stamp), you cannot apply on the basis of combined income.

All of the above are set-in-stone rules with the major lenders, so on the surface it sounds like you and your fiance wouldn't be successful. That doesn't mean you're out of options though..

Perhaps she has a family member (employed Thai national) that can apply on your behalf?

Perhaps you could look at something you can afford to buy cash instead?

Perhaps borrow from a loan shark at higher interest?

Perhaps you can just rent a car until such a time as you/your fiance finally fit the prerequisites?

[siamcrut]

my thai wife and me bought a Isuzu dmax in april 2007. she works in thai gov. ,we didntnt need any garantie. 300,000 down and 3 year credit 2.3 %

maybe you can use your, her thai property (as a security) to get a good rate. don't forget to visit toyota, mitsu, nissan and the rest (....tata).....for their % rate....

!!

If you put down 300k then you dont need a garantee. I mean what is the point they don't risk a thing then. Even a farang could buy a car on finance if he did 300k down.

Well, my advise was quit simple!! the bigger the down., the less costs you the car at the end!! that easy (short credit time, less interests % rate) but of course there are still plenty of costumers still buying cars and trusting the high gloss brochure!!!.....on promotion days infronf tesco, dont forget your calculator! if u cant handle it with out it

otherwise try http://www.one2car.com/

or many others, but "rawang maak"