Does anyone know of a Thai bank that has a reasonable policy toward loaning money to farongs? I recently tried to borrow B470.000 from Bangkok bank to buy a car. I offered to use the B800.000 I have IN MY BANGKOK BANK account as a guarantee on the loan plus allow them to take the monthly payments from my US government pension payment that is automatically sent every month to my Bangkok bank direct deposit account. They actually rejected the loan because A. - I am 64 and the limit is 65 [close!?] and B. - I don't have a work permit. What possible difference could those things make if the guarentee cash is already deposited in THEIR BANK!! This is the stupidist bank policy I could possible imagine! I'm some of you out there have been through this....any ideas?

Here is a follow-up to my original post. I went back to BKK determined to make this happen and found out if my Thai wife signs for the loan they will give it to me and the car can still be in my name personally. Doesn't matter that she has no job, no income and no credit, only that she is Thai. As so many have said before in this forum......amazing Thailand!!!

Here is a follow-up to my original post. I went back to BKK determined to make this happen and found out if my Thai wife signs for the loan they will give it to me and the car can still be in my name personally. Doesn't matter that she has no job, no income and no credit, only that she is Thai. As so many have said before in this forum......amazing Thailand!!!

Same can be and is done for condo's / houses / land - loan in Thai lady's name but all guaranteed by farang's income - easy

JH

Here is a follow-up to my original post. I went back to BKK determined to make this happen and found out if my Thai wife signs for the loan they will give it to me and the car can still be in my name personally. Doesn't matter that she has no job, no income and no credit, only that she is Thai. As so many have said before in this forum......amazing Thailand!!!

I don't understand why you find this 'amazing'?

You as a foreigner can skip the country in a heart beat and leave the bank with a depreciated asset with extremely difficult recourse to chase you down for your debts to them.

Your wife, with an ID card and a house registration, can be relatively easily be forced into bankruptcy or face stripping of her assets to debtors.

Good point, samran, I'm sure debt recovery is hard enough with Thais so there is no incentive for banks to lend to foreigners.

Farang usually cannot borrow. G.E. Capital are ok but there must be a Thai on the paper. The nay way you get finance from a bank here is 50% deposit on new vehicles only (in my experience). My present financed vehicle is solely in my wife's name and I am the registered owner. Weird. Good luck but yes, the prejudice continues against us good paying people.

Farang usually cannot borrow. G.E. Capital are ok but there must be a Thai on the paper. The nay way you get finance from a bank here is 50% deposit on new vehicles only (in my experience). My present financed vehicle is solely in my wife's name and I am the registered owner. Weird. Good luck but yes, the prejudice continues against us good paying people.

Not clear by what "usually" implies and "nay way"? means?

Is it possible to purchase a new vehicle, with bank loan at a given down payment?

On retirement visa, with proof of income as means for visa.

Would like to keep personal money and use bank money for items that will not be liquid for myself.

Thanks

Farang usually cannot borrow. G.E. Capital are ok but there must be a Thai on the paper. The nay way you get finance from a bank here is 50% deposit on new vehicles only (in my experience). My present financed vehicle is solely in my wife's name and I am the registered owner. Weird. Good luck but yes, the prejudice continues against us good paying people.

Not clear by what "usually" implies and "nay way"? means?

Is it possible to purchase a new vehicle, with bank loan at a given down payment?

On retirement visa, with proof of income as means for visa.

Would like to keep personal money and use bank money for items that will not be liquid for myself.

Thanks

Yes but you will need a Thai signatory to co sign for you on your first car, once a credit history is built up, you can purchase in your own right