Car Finance

[battersea]

Just wondered what the requirements were for getting car finance. Is it possible to get car finance on an Education visa with a large downpayment ?

[chris2004]

I have tried many times to get car finance but was turned down. They want you to have a work permit or a thai person to guarantee the loan.

[katabeachbum]

bunch of existing threads on this, but yes

6 months good monthly cash flow in Th bank account needed

up to 50% down needed for a 4x4 pickup/suv without WP and TH guarantor

I got a mazda2 in december with 20% down, no wp, no th guarantor, no Non Imm visa, my 4th financed car

I will get a mazda bt50 3,2auto 4x4 at a million baht within a few months, same as above but 25% down required, already approved

[battersea]

Thanks everyone for your replies.

Katabeachbum....how did you manage it ?

i wanted to buy a second hand Honda Civic (or the equivalent) and will only have an Ed visa.

I get money from overseas (100,000 baht per month).....

What are the steps i need to take ? (I can get a guarantor but would rather do it on my own).

Do i just transfer the UK funds regularly too a Thai bank account for 6 mths, rent a condo in my name ??? anything else ?

Can you also recommend a good finance company ?

[katabeachbum]

Thanks everyone for your replies.

Katabeachbum....how did you manage it ?

i wanted to buy a second hand Honda Civic (or the equivalent) and will only have an Ed visa.

I get money from overseas (100,000 baht per month).....

What are the steps i need to take ? (I can get a guarantor but would rather do it on my own).

Do i just transfer the UK funds regularly too a Thai bank account for 6 mths, rent a condo in my name ??? anything else ?

Can you also recommend a good finance company ?

my first financed car had TH guarantor, 25% down on a 4x4 4 door pickup, all in Tanachart

the rest as above, 100k baht a month, same date every month

In addition I recomend getting a secured TH creditcard, in yellow bank ayudhya they require 80k baht secured deposit to issue 64k baht limit gold card. pay balance every month before or on due date, and you get creditscore every month

[battersea]

Thanks very much indeed.....

[battersea]

Sorry to trouble you again....but where is the best place to look for a car ?

Did you buy brand new cars ?

Is it possible to get finance on a second hand (2 or 3 year old ) car ?

[katabeachbum]

Sorry to trouble you again....but where is the best place to look for a car ?

Did you buy brand new cars ?

Is it possible to get finance on a second hand (2 or 3 year old ) car ?

secondhand cars in TH are risky, I have bought new only

any secondhand car dealer provides finance, if brought from private just bring car and docs to the financecompanies and they tell you how much they think its worth, and how much they will lend you

[transam]

bunch of existing threads on this, but yes

6 months good monthly cash flow in Th bank account needed

up to 50% down needed for a 4x4 pickup/suv without WP and TH guarantor

I got a mazda2 in december with 20% down, no wp, no th guarantor, no Non Imm visa, my 4th financed car

I will get a mazda bt50 3,2auto 4x4 at a million baht within a few months, same as above but 25% down required, already approved

If you don't pay the payments, do they go after the Thai guarantors assets or take back the motor and press all sides for any money difference.?

I ask cos my wife's daughters bloke wants to buy a new Fortuner, he's got a good job but he has had business probs in the past and can't open a bank account so everything they do is in her name. She asked my mrs to be guarantor, she said no, the blokes dodgy and his own family should be used. I said to the mrs, do you want to loose our house if this bloke doesn't pay the near 1,400,000 bht.

[katabeachbum]

bunch of existing threads on this, but yes

6 months good monthly cash flow in Th bank account needed

up to 50% down needed for a 4x4 pickup/suv without WP and TH guarantor

I got a mazda2 in december with 20% down, no wp, no th guarantor, no Non Imm visa, my 4th financed car

I will get a mazda bt50 3,2auto 4x4 at a million baht within a few months, same as above but 25% down required, already approved

If you don't pay the payments, do they go after the Thai guarantors assets or take back the motor and press all sides for any money difference.?

I ask cos my wife's daughters bloke wants to buy a new Fortuner, he's got a good job but he has had business probs in the past and can't open a bank account so everything they do is in her name. She asked my mrs to be guarantor, she said no, the blokes dodgy and his own family should be used. I said to the mrs, do you want to loose our house if this bloke doesn't pay the near 1,400,000 bht.

yes they do, your wife is wise