What Can I Get Finance On With 200K Deposit

[corkman]

Ok guys - I was all set, and could well afford a fortuner, but I ain't got a 25% deposit (some would argue that if you don't have 100% deposit you can't afford it, but getting away from idealism).

So, assuming that as a farang I have to put down 25% deposit in order to get finance, then 200k deposit = 800 THB car.

I want something that is as large as possible and:

Safe

Family friendly

sensible (in terms of not buying something that devalues very quickly)

comfortable

Suggestions please? (2 adults 2 kids).?

[MoonRiverOasis]

Have you or your wife ever financed a car or house in Thailand?

Do you have a Thai family member or friend or boss that would be able to go guarantor for you (well, your wife)? (they would need sufficient income to cover the repayments).

If yes to either of these, you should be able to get finance with 20% down, which brings your buying power up to 1M Baht.

(I'm assuming your wife is Thai and you've got a non-immigrant visa or residency).

[Hssl]

basic rule of thumb is that the person acting as guarantor should be earning double the monthly repayment per month or more and not have had 'bad credit' and remember if YOU default the finance company comes looking for the guarantor!

[MoonRiverOasis]

The other option to increase buying power is to apply any discounts on offer against the downpayment rather than the purchase price. To get up to 900K-1M baht with 25% down, it'll probably take a tier 2 brand (so not Toyota or Honda) to get a meaningful enough discount though. Given that whatever vehicle you buy will need at least first class insurance and tabien rot/por ror bor, the max. discount left over @ 900K-1M Baht would be ~30-40k Baht - if this were applied off the downpayment, it'd hit or get very close to the OP's 200K budget.

If the OP wants to go this route, he may be able to get himself into a base model MU-7, Pajero Sport or Everest (was originally looking at Fortuner), or a higher model in the B segment..

At 800K people-mover options would include Thairung, Proton and Avanza.

[katabeachbum]

basic rule of thumb is that the person acting as guarantor should be earning double the monthly repayment per month or more and not have had 'bad credit' and remember if YOU default the finance company comes looking for the guarantor!

or be a public employee like nurse, police, clerck etc. My first financed car was guaranteed by a Police officer with monthly salary 12k and payments where 20k month

[billd766]

When I bought my Ford Ranger back in 2001 I was working in Thailand, paid offshore, had a Thai guarantor and still had to put 50% down.

Hopefully times have changed for the better even though the exchange rate has changed for the (much) worse.

[MoonRiverOasis]

When I bought my Ford Ranger back in 2001 I was working in Thailand, paid offshore, had a Thai guarantor and still had to put 50% down.

Hopefully times have changed for the better even though the exchange rate has changed for the (much) worse.

Depends largely on finance company used. Siam Commercial Bank, Bank of Ayudhya and Thanachart are more farang-friendly than others, and will do as low as 15% down for married farang with a good credit history, or 25% down for married farang on first finance. Bangkok Bank will always want 50% from farang, Kasikorn won't lend to a farang period and won't take farang husband's income into account if wife is borrowing etc.

Even though, if on a retirement visa OR not married to a Thai national, most will still want 35-50% down.

[Forethat]

Kasikorn won't lend to a farang period and won't take farang husband's income into account if wife is borrowing etc.

This is completely incorrect, Kasikorn Bank do lend to farangs.

[MoonRiverOasis]

Kasikorn won't lend to a farang period and won't take farang husband's income into account if wife is borrowing etc.

This is completely incorrect, Kasikorn Bank do lend to farangs.

Interesting.. under what conditions? (e.g. downpayment %, work permits/visas/marital status, gaurantors etc)

[corkman]

Have you or your wife ever financed a car or house in Thailand?

Do you have a Thai family member or friend or boss that would be able to go guarantor for you (well, your wife)? (they would need sufficient income to cover the repayments).

If yes to either of these, you should be able to get finance with 20% down, which brings your buying power up to 1M Baht.

(I'm assuming your wife is Thai and you've got a non-immigrant visa or residency).

Thanks MRO, and everyone else.

Update - got a gaurantor, so the garage reckons they can swing 20% deposit - so on consideration I reckon its worth the stretch.

No bad credit or anything...... wife is Thai, I have a B visa and work permit...... its just our first finance in LOS.