Vehicle Loans / Finance In Bangkok

[yahana99]

Hi there,

I really need some help!

Im thinking about buying a car.

Im wondering if a Farang is able to otain a loan for a car through a bank or get Finance for a car.

Does anyone know of the best people to speak with?

Please help, I need some info on this matter.

Thanks.

[gerrryuk]

Hi there,

I really need some help!

Im thinking about buying a car.

Im wondering if a Farang is able to otain a loan for a car through a bank or get Finance for a car.

Does anyone know of the best people to speak with?

Please help, I need some info on this matter.

Thanks.

<{POST_SNAPBACK}>

Any loan is totally dependant on 1) ability to repay. 2) good credit ratings that can be checked over the last several years. 3)ability to find/contact at place of permanant abode of which proofs (at least 2) can be given. 4) possibly proof of employment. 5) whether the bank/loan company want to trust you.

I bank with the Bangkok Bank (although I live in England) so of course you need to have a bank account. banks are without doubt the best to apply

If however, you are buying a new car, try the manufacturers loan company (Toyota Finance; Ford Credit etc) through the dealer

[yahana99]

Hi there,

I really need some help!

Im thinking about buying a car.

Im wondering if a Farang is able to otain a loan for a car through a bank or get Finance for a car.

Does anyone know of the best people to speak with?

Please help, I need some info on this matter.

Thanks.

<{POST_SNAPBACK}>

Any loan is totally dependant on 1) ability to repay. 2) good credit ratings that can be checked over the last several years. 3)ability to find/contact at place of permanant abode of which proofs (at least 2) can be given. 4) possibly proof of employment. 5) whether the bank/loan company want to trust you.

I bank with the Bangkok Bank (although I live in England) so of course you need to have a bank account. banks are without doubt the best to apply

If however, you are buying a new car, try the manufacturers loan company (Toyota Finance; Ford Credit etc) through the dealer

<{POST_SNAPBACK}>

Thanks for the info.......

[Digger]

Hi there,

I really need some help!

Im thinking about buying a car.

Im wondering if a Farang is able to otain a loan for a car through a bank or get Finance for a car.

Does anyone know of the best people to speak with?

Please help, I need some info on this matter.

Thanks.

<{POST_SNAPBACK}>

Any loan is totally dependant on 1) ability to repay. 2) good credit ratings that can be checked over the last several years. 3)ability to find/contact at place of permanant abode of which proofs (at least 2) can be given. 4) possibly proof of employment. 5) whether the bank/loan company want to trust you.

I bank with the Bangkok Bank (although I live in England) so of course you need to have a bank account. banks are without doubt the best to apply

If however, you are buying a new car, try the manufacturers loan company (Toyota Finance; Ford Credit etc) through the dealer

<{POST_SNAPBACK}>

Gerry I think your applying too much common sense here. e.g:

Ability to repay - not at all, just have enough for the down payment - if its 40% or more no guarantor required for a Thai buyer and little checking done on the abilty to determine if you can repay.

Good credit ratings: From whom? All though there is a credit reference agency in Thailand, hardly anybody bothers to check it.

Place of permanent abode: Sure, take the original ID card from the jungle and draw a map - does not matter if the person is registered in Nakon Knowhere and is buying a car in BKK, its the map of the house address where your registered that they want. No need for the car to be there, as they find out when they try and repossess it.

Proof of employment: Just get a friend to write a letter saying you work for them and salary is whatever you want it to be, paid in cash. No further questions asked.

Trust the buyer: Does not come into it, if they fit the correct answers, the money is there for the taking.

By the way none of this applies for foreigners - getting credit for a car purchase is very difficult and near on impossible without a Thai guarantor.

[yahana99]

Hi there,

I really need some help!

Im thinking about buying a car.

Im wondering if a Farang is able to otain a loan for a car through a bank or get Finance for a car.

Does anyone know of the best people to speak with?

Please help, I need some info on this matter.

Thanks.

<{POST_SNAPBACK}>

Any loan is totally dependant on 1) ability to repay. 2) good credit ratings that can be checked over the last several years. 3)ability to find/contact at place of permanant abode of which proofs (at least 2) can be given. 4) possibly proof of employment. 5) whether the bank/loan company want to trust you.

I bank with the Bangkok Bank (although I live in England) so of course you need to have a bank account. banks are without doubt the best to apply

If however, you are buying a new car, try the manufacturers loan company (Toyota Finance; Ford Credit etc) through the dealer

<{POST_SNAPBACK}>

Gerry I think your applying too much common sense here. e.g:

Ability to repay - not at all, just have enough for the down payment - if its 40% or more no guarantor required for a Thai buyer and little checking done on the abilty to determine if you can repay.

Good credit ratings: From whom? All though there is a credit reference agency in Thailand, hardly anybody bothers to check it.

Place of permanent abode: Sure, take the original ID card from the jungle and draw a map - does not matter if the person is registered in Nakon Knowhere and is buying a car in BKK, its the map of the house address where your registered that they want. No need for the car to be there, as they find out when they try and repossess it.

Proof of employment: Just get a friend to write a letter saying you work for them and salary is whatever you want it to be, paid in cash. No further questions asked.

Trust the buyer: Does not come into it, if they fit the correct answers, the money is there for the taking.

By the way none of this applies for foreigners - getting credit for a car purchase is very difficult and near on impossible without a Thai guarantor.

<{POST_SNAPBACK}>

Digger, thanks for that. I didn't think it was that hard to obtain credit.........it makes me wonder how alot of the Farangs get vehicles on credit with no guarantor........

[GuestHouse]

it makes me wonder how alot of the Farangs get vehicles on credit with no guarantor........

My guess is most farangs buy their vehicles cash.

The problem with credit, if you are buying with funds from overseas, is that you are suceptible to fluctuations in the currency markets.

An improvement in the Bht against your currency could substantially increase your payments.

OK it works both ways, but the risk is significant and if you are buying cash you can choose when to exchange.

There is also the other problem of breaking the golden rule. Don't invest more in Thailand than you can afford to loose.

I assume that if you are borrowing to buy, then this is money you don't have and hence the commitment of a debt is money you can't afford to loose.