I've been denied entry to Thailand - Now What ! ?

[monty1412]

Soon to arrive LOS.

Want to take opportunity to get car Ive always wanted. Have cash to pay for it but don't want to tie some of my capital like this.

any way I can lodge funds in some sort of interest bearing account and the bank with security over that lends me the money to buy the car ,of course with interest.

Reason why I want to do this in this manner is I get a car allowance from company which I can use to service the loan.

Company will not enter into a lease in Thailand.

Would be happy to lodge 100% of car value in the account but don't want the capital tied up in actual purchase of the vehicle.

Ideas/ thoughts

Rgds Monty

[Nisa]

Where are you going to be located in Thailand? The reason I ask is if you are in BKK, you may want to consider pocketing the car allowance and avoid all the additional headaches and costs associated with having a car in Bangkok.

[REM]

Where are you going to be located in Thailand? The reason I ask is if you are in BKK, you may want to consider pocketing the car allowance and avoid all the additional headaches and costs associated with having a car in Bangkok.

Agreed. Often times in BKK, having a car is more of a burden, with expensive tolls and gasoline prices. Plus, the constant traffic jams can what would be a 20 minute train ride turn into a two hour car ride!!!! Definitely wouldn't recommend a car for BKK, people have no regard for others on the road. If you have a driver, then it would be different, or if your not in BKK!!!

[monty1412]

Where are you going to be located in Thailand? The reason I ask is if you are in BKK, you may want to consider pocketing the car allowance and avoid all the additional headaches and costs associated with having a car in Bangkok.

Agreed. Often times in BKK, having a car is more of a burden, with expensive tolls and gasoline prices. Plus, the constant traffic jams can what would be a 20 minute train ride turn into a two hour car ride!!!! Definitely wouldn't recommend a car for BKK, people have no regard for others on the road. If you have a driver, then it would be different, or if your not in BKK!!!

Thanks REM and NISA, I will be in BKK and had those thoughts as well. However have girlfriend at Pattaya and want to travel a fair bit and one time in my life now Im free of wife / mortgage I can get something I really like. Even though good cars in Thailand are ridiculously priced, like to look at something like a Porsche/ BMW/ Merc SL and buy it almost as investment.

I doubt I would be driving in BKK much and getting onto highways is easy ( at times) as I live in Soi 24.

the other mid life crisis thing Im doing is buying a motorbike.

cheers and thanks for the thoughts

[Nisa]

Where are you going to be located in Thailand? The reason I ask is if you are in BKK, you may want to consider pocketing the car allowance and avoid all the additional headaches and costs associated with having a car in Bangkok.

Agreed. Often times in BKK, having a car is more of a burden, with expensive tolls and gasoline prices. Plus, the constant traffic jams can what would be a 20 minute train ride turn into a two hour car ride!!!! Definitely wouldn't recommend a car for BKK, people have no regard for others on the road. If you have a driver, then it would be different, or if your not in BKK!!!

Thanks REM and NISA, I will be in BKK and had those thoughts as well. However have girlfriend at Pattaya and want to travel a fair bit and one time in my life now Im free of wife / mortgage I can get something I really like. Even though good cars in Thailand are ridiculously priced, like to look at something like a Porsche/ BMW/ Merc SL and buy it almost as investment.

I doubt I would be driving in BKK much and getting onto highways is easy ( at times) as I live in Soi 24.

the other mid life crisis thing Im doing is buying a motorbike.

cheers and thanks for the thoughts

Sounds like your financial situation is not a big concern but if you are going to be paying to park a car all week you don't use often, maybe you should think about renting a car when needed. I have a friend who rents a lot but I personally am not sure of the best places to rent. He says he has never had a problem and it is inexpensive ... he goes up north a couple times a month. But what I was thinking is there might be a place where you can rent high end vehicles. In addition to being cheaper and avoiding headaches of having a car you rarely drive, might be fun to drive a different high-end car every week-end.

Be sure to check into purchasing vs. lease since you say your company will not pay for a lease. There was another recent thread where a Mod swore up and down that the finance agreements you see in Thailand are actually leases that act as purchases in terms of owning the vehicle at the end of the lease.

[katabeachbum]

It is more easy for WP holders than non WP holders to be approved for car finance.

Most financecompanies require to see your cash flow in Thai bank account past 6 months. If you dont have such, get started asap. In addition you should get yourself a Thai creditcard, and make sure balance is paid couple of days before due each month. Then you have a Thai credit score.

also good to get yourself a checking account, as some financecompanies require checks for each of the 12 first terms to be issued on delivery of car

If you do not qualify for car finance at this point, you can rent a car for initial 6 months, and then apply again. Some rentalcompanies will buy exactly the car you want, for you to make a long term agreement. Have a look in engish language bkk newspaper for rental ads

[Nisa]

<br />It is more easy for WP holders than non WP holders to be approved for car finance.<br /><br />Most financecompanies require to see your cash flow in Thai bank account past 6 months. If you dont have such, get started asap. In addition you should get yourself a Thai creditcard, and make sure balance is paid couple of days before due each month. Then you have a Thai credit score.<br /><br />also good to get yourself a checking account, as some financecompanies require checks for each of the 12 first terms to be issued on delivery of car<br /><br />If you do not qualify for car finance at this point, you can rent a car for initial 6 months, and then apply again. Some rentalcompanies will buy exactly the car you want, for you to make a long term agreement. Have a look in engish language bkk newspaper for rental ads<br />

<br /><br /><br />

My understanding is, if you put 20% down you are approved to finance. Now, I am not sure how that applies to a Farang but it is true for Thais.

[random]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

[Soutpeel]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

For first car will need Thai guarantor after that, companies like Thanachart dont require it,if you have financed through them previously on my 3rd car with them, only needed the guarantor on the first.

@Nisa....could be 20%, coud be 30% depends on the vehicle ie 4 X4's generally require 30% down....this applies to both Thai's and farangs

[random]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

For first car will need Thai guarantor after that, companies like Thanachart dont require it,if you have financed through them previously on my 3rd car with them, only needed the guarantor on the first.

@Nisa....could be 20%, coud be 30% depends on the vehicle ie 4 X4's generally require 30% down....this applies to both Thai's and farangs

Thanks for that info, I thought I would need guarantor every time, on another note regarding deposit, I didn't actually pay one, they built it into the finance on a used car, i guess instead of discount they used that discount as the deposit.

[beano2274]

There are travel fairs at QSNCC on the 18th to 21st August, why not try getting deals there for rental cars, save the money for something else and rent when you really need it.

[katabeachbum]

<br />It is more easy for WP holders than non WP holders to be approved for car finance.<br /><br />Most financecompanies require to see your cash flow in Thai bank account past 6 months. If you dont have such, get started asap. In addition you should get yourself a Thai creditcard, and make sure balance is paid couple of days before due each month. Then you have a Thai credit score.<br /><br />also good to get yourself a checking account, as some financecompanies require checks for each of the 12 first terms to be issued on delivery of car<br /><br />If you do not qualify for car finance at this point, you can rent a car for initial 6 months, and then apply again. Some rentalcompanies will buy exactly the car you want, for you to make a long term agreement. Have a look in engish language bkk newspaper for rental ads<br />

<br /><br /><br />

My understanding is, if you put 20% down you are approved to finance. Now, I am not sure how that applies to a Farang but it is true for Thais.

20% down is doable for a Thai national with 6 months bank statement showing ability to live and pay for car, but expect Thai guarantor required. For a foreigner 20% down will require additional WP and Thai guarantor.

It also depends how keen they are to sell, creditapproval more easy on slow selling brands

[katabeachbum]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

For first car will need Thai guarantor after that, companies like Thanachart dont require it,if you have financed through them previously on my 3rd car with them, only needed the guarantor on the first.

@Nisa....could be 20%, coud be 30% depends on the vehicle ie 4 X4's generally require 30% down....this applies to both Thai's and farangs

Thanks for that info, I thought I would need guarantor every time, on another note regarding deposit, I didn't actually pay one, they built it into the finance on a used car, i guess instead of discount they used that discount as the deposit.

used car finance is more easy to get, as interest is much higher, thus more willing to go risky. several of the used car finance companies are small companies with crushed knee style repos

[Nisa]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

For first car will need Thai guarantor after that, companies like Thanachart dont require it,if you have financed through them previously on my 3rd car with them, only needed the guarantor on the first.

@Nisa....could be 20%, coud be 30% depends on the vehicle ie 4 X4's generally require 30% down....this applies to both Thai's and farangs

To be clear, I never purchased a car in Thailand but was considering it last year. I went with my wife (thai) and they simply said 20% and there basically would be no issue with credit. Who knows if they were being honest but I actually got the feeling they didn't even run any kind of credit check. But in the end it just didn't seem like a worth while venture living in Bangkok.

[katabeachbum]

I have finance on my car, through Thanachart, showed bank statements for 6 months, wp etc, however always need a thai guarantor I believe for foreigners,

As mentioned I got Thai credit card first and built up credit rating, just pay on time and keep a good credit rating,

For first car will need Thai guarantor after that, companies like Thanachart dont require it,if you have financed through them previously on my 3rd car with them, only needed the guarantor on the first.

@Nisa....could be 20%, coud be 30% depends on the vehicle ie 4 X4's generally require 30% down....this applies to both Thai's and farangs

To be clear, I never purchased a car in Thailand but was considering it last year. I went with my wife (thai) and they simply said 20% and there basically would be no issue with credit. Who knows if they were being honest but I actually got the feeling they didn't even run any kind of credit check. But in the end it just didn't seem like a worth while venture living in Bangkok.

in reality they will say 20% for a max 900k baht car and 25-30% for a pu/suv 4x4, but when creditcheck is completed by financecompany this will change according to you credit score and cash flow in Thai bank account

on the other hand I am after 3 cars/ 4x4 trucks financed in my name, approved for 10% down without thai guarantor

[Nisa]

in reality they will say 20% for a max 900k baht car and 25-30% for a pu/suv 4x4, but when creditcheck is completed by financecompany this will change according to you credit score and cash flow in Thai bank account

on the other hand I am after 3 cars/ 4x4 trucks financed in my name, approved for 10% down without thai guarantor

Although I tend to believe you over a car salesperson ... this doesn't make a lot of sense. 20% is 20% in speaking of relative risk regardless of the price of the car. The same would be true on a house purchase. If you can cover 20% of the actual value then your stake is still the same as is the banks risk. The amount financed maybe more but the relative risk of each party remains equal. I wonder if it has more to do with a 4x4 losing its value more quickly. However, we were looking at the new Honda that was priced around 675k, and not vehicles over 900k as you mention.

The other thing that seems odd is they "appeared' to be willing to take my deposit to order the car and bring it to the showroom without doing any kind of credit check but again this may be because I have a Thai wife.