Can I Use A (Foreign) Credit Card To Help Buy A Car? Or Choose Monthly Financing?

[Foxhound]

I went to Toyota showroom today and was told I need a Thai guarantor even if I put 50% down and have a valid WP. The Thai guarantor must be earning a salary which is double of the monthly instalment. Interest is at 2.8% per annum, Toyota will provide first year free first class insurance but interest rate goes up to 3.8%. The financing is by Toyota Leasing, min 25% down payment.

From Tanachat Bank, they told me for foreigner who owns a Company seeking for car financing, the business must be at least five years! Min 50% down payment and require a Thai guarantor.

[stevenl]

I went to Toyota showroom today and was told I need a Thai guarantor even if I put 50% down and have a valid WP. The Thai guarantor must be earning a salary which is double of the monthly instalment. Interest is at 2.8% per annum, Toyota will provide first year free first class insurance but interest rate goes up to 3.8%. The financing is by Toyota Leasing, min 25% down payment.

From Tanachat Bank, they told me for foreigner who owns a Company seeking for car financing, the business must be at least five years! Min 50% down payment and require a Thai guarantor.

There are big differences between first time buyers and buyers with credit history. For first time buyers the re are more restrictions..

[Foxhound]

I went to Sure, Toyota Certified Car Dealer, and placed a deposit for a 2011 Toyota Vios, priced at 519,000 after discount. Odometer displayed 2x,xxx km. Is this a good buy?

Minimum 10% down payment and up to 72 months instalment, interests ranges from 2.8% to 4.2%, depending on car model, price and number of years of instalment. They require a Thai guarantor for car financing, and immigration to certify residential address in Chiang Mai. If, at the end of the day, Toyota Leasing does not approve the car financing application, the deposit will be refunded.

The loan amount does attracts 7% VAT!