Buying a car on finance on a Retirement Visa.

[scargil]

Hi All

I am looking to buy a New Car on Finance to be registered in my name, I am on a Retiremenrt Visa and in a house on a 30 year Lease (no book).. Point is I have only until now heard of Toyota letting a Farang have a new car on finance in their name. Does anyone know of other makes that do the same or is it down to the particular showroom?

Cheers.

[aussiebebe]

All dealerships may give you a standard hire-purchase finance agreement (down payment + monthly payments) if you have a Thai national willing to act as a guarantor. It depends not on the dealership but on the finance companies such as banks that they work with. Whether you get a loan will depend on your ability to meet the various terms and conditions of each company such as the size of the down payment. Shorter loan periods with higher down payments result in preferential interest rates and vice versa.

For example, the finance company will want to see your passport, visa, bank books and perhaps the lease agreement and from the Thai national they'll need to see their ID card and house book. It varies between different companies. The car will be registered in your name and the finance agreement will also be in your name.
Obviously, if you go to dealerships used to dealing with foreigners (such as in or around popular retirement destinations like Chaing Mai) the staff will be more helpful and will complete the process in a couple of days. Away from these areas, staff may give you blank stares - you may be their first non-Thai customer wanting finance, who knows.

[stevenl]

All banks will give you a finance deal. Main consideration is going to be your age.

[ThaiBob]

I have asked this question before and I found out the hard way. If you are 65 or older you can not get financing through the dealerships here. A Thai guarantor will not work. You will have to make some other arrangement.

[puuchai299]

Unless you can show an income that comes from work in Thailand,many lenders won't entertain giving you finance,and normally the car won't get registered to you until you've paid for it in full.and as said,if your 65 or over,forget finance..