Buying Bikes On Installments

[innerspace]

Whats the deal with buying motorbikes on installments here?

I know lots of the Thai's do it, how easy is it for a Farrang? I have a business and WP if it helps.

Is it best going to an independent dealer or an official Honda shop?

And on an 80k bike what would be expected in terms of deposit, monthly installments and interest?

[katabeachbum]

with a WP buying a cheap 80k baht new bike, you are better off talking to your bank. Most offer 0,99% a month, while dealers are in the 2-3% month range and do not like finance out of province residents or foreigners

in addition some dealer finance is baseball repos, while banks run a cleaner business

[biker Bob]

with a WP buying a cheap 80k baht new bike, you are better off talking to your bank. Most offer 0,99% a month, while dealers are in the 2-3% month range and do not like finance out of province residents or foreigners

in addition some dealer finance is baseball repos, while banks run a cleaner business

I don't know what is best, but i did not have a problem getting finance at the local Honda dealer.

[thaicbr]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

[vel_tins]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

so you pay 28440 Bt just for interest....wow...

79.000 open ---> 1.5 % interest ---> 1185Bt --->*24 months --->28440 Bt.......

All together:

79.000 + 28440 = 107400

ohooo..

Edited January 18, 2012 by vel_tins

[thaicbr]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

so you pay 28440 Bt just for interest....wow...

79.000 open ---> 1.5 % interest ---> 1185Bt --->*24 months --->28440 Bt.......

All together:

79.000 + 28440 = 107400

ohooo..

And your point is?

On a SCB easy loan it is 24.9% per year so 19,671b per year..39.342b for 2 years....so 118,342b.....oohooo

[JohanBKK]

How do you calculate guys ? When you refund something you can't add interest on it. You need to calculate the amount minus what you have refunded.

[vel_tins]

And your point is?

On a SCB easy loan it is 24.9% per year so 19,671b per year..39.342b for 2 years....so 118,342b.....oohooo

There is always worse.

My point is, don't buy motorbikes on finance. It's a complete rip-off

How do you calculate guys ? When you refund something you can't add interest on it. You need to calculate the amount minus what you have refunded.

No, not in Thailand.

I can only speak from motorbike/car finance, but usually you pay 2-3 % interest every month on the financed amount.

Regardless how much you have already refunded.

TIT

Edited January 18, 2012 by vel_tins

[ignis]

Look around for deals.......' Aeon ' was offering .79% on any Honda bike.

[katabeachbum]

Look around for deals.......' Aeon ' was offering .79% on any Honda bike.

and available for anyone with WP, 6 months cashflow through TH bank account and clean creditcheck

obviously approx half of honda dealer finance

[katabeachbum]

How do you calculate guys ? When you refund something you can't add interest on it. You need to calculate the amount minus what you have refunded.

Nope, when you sign your loan, its fixed whatever happens. Interest up, interest down, sell bike before paid off, total loan amount does not change

On cars, with higher loan amounts, remaining interest can sometimes be refunded with half

[Semper]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

so you pay 28440 Bt just for interest....wow...

79.000 open ---> 1.5 % interest ---> 1185Bt --->*24 months --->28440 Bt.......

All together:

79.000 + 28440 = 107400

ohooo..

So, he pays 1185 Baht/ per mont interest. Big deal, just skip a couple of nights out per month and he would be even

[katabeachbum]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

so you pay 28440 Bt just for interest....wow...

79.000 open ---> 1.5 % interest ---> 1185Bt --->*24 months --->28440 Bt.......

All together:

79.000 + 28440 = 107400

ohooo..

So, he pays 1185 Baht/ per mont interest. Big deal, just skip a couple of nights out per month and he would be even

couple of nights out at 1185 baht, where do you go? 7eleven

[thaicbr]

Look around for deals.......' Aeon ' was offering .79% on any Honda bike.

and available for anyone with WP, 6 months cashflow through TH bank account and clean creditcheck

obviously approx half of honda dealer finance

really. last time I asked Aeon they said 'falang can not '.

that was a promo stand in big c. maybe I will try again at the headquarters.

[katabeachbum]

Look around for deals.......' Aeon ' was offering .79% on any Honda bike.

and available for anyone with WP, 6 months cashflow through TH bank account and clean creditcheck

obviously approx half of honda dealer finance

really. last time I asked Aeon they said 'falang can not '.

that was a promo stand in big c. maybe I will try again at the headquarters.

they always say farang can not

until you find someone with experience

[Kwasaki]

me neither. i found it A LOT easier getting finance at a dealer than the thai banks. they just were NOT interested.

i got a Cbr250. 109,000b. 30,000b down rest over 2 years. at 1.5% per month. not the best but on par with most bank Apr's i found.

so you pay 28440 Bt just for interest....wow...

79.000 open ---> 1.5 % interest ---> 1185Bt --->*24 months --->28440 Bt.......

All together:

79.000 + 28440 = 107400

ohooo..

Just over a 1000 a month, is not bad.