Spoonman Posted October 12, 2011 Share Posted October 12, 2011 Am looking at getting into a new pickup, most probably a new colorado. The intention is to finance this and from my understanding fr finance without a local to guarantee the finance a larger initial down-payment is expected. I wish to trade my current pickup, should be worth around Bt.340,000, would this be taken as the deposit or should I sell it privately first and use the cash, trade is prefered as god only knows how long till a buyer comes along. Finance, do the banks d finance for vehicles, currently Iam with Kasikorn and have an un-secured credit card with them, should I approach them for the finance ? Link to comment Share on other sites More sharing options...
MoonRiverOasis Posted October 13, 2011 Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... Link to comment Share on other sites More sharing options...
katabeachbum Posted October 13, 2011 Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... 25% down on 4x4 seems impossible these days without guarantor for first time car finance, but should work for 2wd if you have paid your CC on time every month and have WP and yep, you should go with the dealers finance companies, as they will provide lower interest and more freebies Link to comment Share on other sites More sharing options...
WarpSpeed Posted October 13, 2011 Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... Plus the dealer has a relationship with the financier and that will help the financing in getting approved.. Use your personal finance as back up.. Link to comment Share on other sites More sharing options...
Spoonman Posted October 13, 2011 Author Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... 25% down on 4x4 seems impossible these days without guarantor for first time car finance, but should work for 2wd if you have paid your CC on time every month and have WP and yep, you should go with the dealers finance companies, as they will provide lower interest and more freebies Yeah not buying a 4x4 and my CC payments are DD so there is no probs there, might have to wait though as my WP is due f0r renewal next month so I guess it would look better with a renewed WP rather than one about to expire. Link to comment Share on other sites More sharing options...
Tattoo180sx Posted October 13, 2011 Share Posted October 13, 2011 Does anyone know if it's possible to get a first car financed without a local guarantor??? I'm talking about a 2nd hand car from a dealer. Yes WP, yes salary slips, no previous credit history in Thailand. Thanks. Link to comment Share on other sites More sharing options...
katabeachbum Posted October 13, 2011 Share Posted October 13, 2011 Does anyone know if it's possible to get a first car financed without a local guarantor??? I'm talking about a 2nd hand car from a dealer. Yes WP, yes salary slips, no previous credit history in Thailand. Thanks. yes secondhand is more kneecrush style on non or late payers, so more easy to get approved new, I signed 15% down today with tanachart with no thai guarantor, usually they require 25% according to dealers Link to comment Share on other sites More sharing options...
katabeachbum Posted October 13, 2011 Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... 25% down on 4x4 seems impossible these days without guarantor for first time car finance, but should work for 2wd if you have paid your CC on time every month and have WP and yep, you should go with the dealers finance companies, as they will provide lower interest and more freebies Yeah not buying a 4x4 and my CC payments are DD so there is no probs there, might have to wait though as my WP is due f0r renewal next month so I guess it would look better with a renewed WP rather than one about to expire. they are more focused on history than future, so old WP with tax reciepts is gold Link to comment Share on other sites More sharing options...
Spoonman Posted October 13, 2011 Author Share Posted October 13, 2011 Yes, your trade-in value can be used as deposit. Normally, you'd try to get a loan using the dealership's financier, as they'll then make a commission which will help with your bargaining power, they'll like you because you're helping them reach their sales targets, plus you'll often find that dealer interest rates are more competitive, due to factory sponsored sales campaigns. Using your own finance is like paying cash, so service levels and freebies can start evaporating pretty quickly... Generally speaking, a 25% downpayment is required to get finance w/out a guarantor, but times are changing with the 1st car buyer scheme, and default levels expected to rise... 25% down on 4x4 seems impossible these days without guarantor for first time car finance, but should work for 2wd if you have paid your CC on time every month and have WP and yep, you should go with the dealers finance companies, as they will provide lower interest and more freebies Yeah not buying a 4x4 and my CC payments are DD so there is no probs there, might have to wait though as my WP is due for renewal next month so I guess it would look better with a renewed WP rather than one about to expire. they are more focused on history than future, so old WP with tax reciepts is gold No Probs, WP/Tax receipts/Pay slips show solid employment for the past 5yrs with the same company, and is about to be renewed for another 2yrs. How do they value trade-ins ? Forgetting what a vehicle might be actually be worth, mine is insured for Bt.340,000. I expect they would not give this price as a trade and to achieve a figure closest to this selling privately might be the GO, assuming it sold in a timely fashion. Link to comment Share on other sites More sharing options...
katabeachbum Posted October 13, 2011 Share Posted October 13, 2011 No Probs, WP/Tax receipts/Pay slips show solid employment for the past 5yrs with the same company, and is about to be renewed for another 2yrs. How do they value trade-ins ? Forgetting what a vehicle might be actually be worth, mine is insured for Bt.340,000. I expect they would not give this price as a trade and to achieve a figure closest to this selling privately might be the GO, assuming it sold in a timely fashion. most do not trade in, they pass it on to tent dealers. value is often picked from the major financecompanies, like Tisco, Tanachart, Kasikorn, GE/krungsri, as they know auction price on repos Link to comment Share on other sites More sharing options...
MoonRiverOasis Posted October 13, 2011 Share Posted October 13, 2011 How do they value trade-ins ? The Redbook is the bible for this, and their 100 Baht valuation will definitely help when negotiating.. However, I do notice that the Colorado is on today's free list: http://www.redbookasiapacific.com/th/commercial/index.php?lang=en Click "try a demonstration of web lookup"... Link to comment Share on other sites More sharing options...
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