Starting to pay off Monthly re-payments for car....

[richy2201]

Sorry for being a pain with all the new threads/topics but I'd like to ask any TV member who has purchased a new vehicle with financing how they (started) to pay off their monthly installments?

I have taken possession of my new Toyota on finance (30% deposit paid a week ago) and car received last Saturday however it has just occured to me that Ive been given no instructions on how or even when to start paying off the monthly installments (Thanachart Bank finance is with).

Anyone with advice on this and on setting up direct debit with Thai bank account?

As always thanks in advance!

[jbrain]

You will receive a letter from the bank with the payment slips and/or a document for your bank if you want to make automatic payments.

Can take about a month.

[lemoncake]

You will receive a card, looks like a credit card, it will have your name, some bar codes and account number. Last digits would be the repayment amount.

Depending on the bank, some will require payment only at the bank and some will allow payment at 7-11 also, just show the card and pay the money.

[richy2201]

Thanks for all replies! Greatly appreciated!

[siam2007]

How can a foreigner actually get a car financing ? requirements/ conditions ?

[thaicbr]

How can a foreigner actually get a car financing ? requirements/ conditions ?

differs from bank to bank. but generally you need a work permit or a long term visa with extensions..

Just go to a dealer and choose the car you want . then sit down and do the paperwork.. wait a week or so to get an answer..done!

[lemoncake]

How can a foreigner actually get a car financing ? requirements/ conditions ?

Thai guarantor and 25% deposit.

Many say if have WP is sufficient, from my experience it was not.

Have used Tanachart and Krungsi Bank and both wanted WP plus Thai guarantor.

[stevenl]

How can a foreigner actually get a car financing ? requirements/ conditions ?

Thai guarantor and 25% deposit.

Many say if have WP is sufficient, from my experience it was not.

Have used Tanachart and Krungsi Bank and both wanted WP plus Thai guarantor.

I needed a Thai guarantor only for the first car loan, on all subsequent loans there was no requirements anymore for a Thai guarantor.

[lemoncake]

How can a foreigner actually get a car financing ? requirements/ conditions ?

Thai guarantor and 25% deposit.

Many say if have WP is sufficient, from my experience it was not.

Have used Tanachart and Krungsi Bank and both wanted WP plus Thai guarantor.

I needed a Thai guarantor only for the first car loan, on all subsequent loans there was no requirements anymore for a Thai guarantor.

Same bank? i have 2 loans from 2 different banks

[stevenl]

How can a foreigner actually get a car financing ? requirements/ conditions ?

Thai guarantor and 25% deposit.

Many say if have WP is sufficient, from my experience it was not.

Have used Tanachart and Krungsi Bank and both wanted WP plus Thai guarantor.

I needed a Thai guarantor only for the first car loan, on all subsequent loans there was no requirements anymore for a Thai guarantor.

Same bank? i have 2 loans from 2 different banks

Yes, every time the same bank (Tanachart).

[NanLaew]

Tisco wanted 25% down and a WP, no Thai guarantor asked for. By the time they had approved me, the WP had gone away but they went ahead anyway.

For the OP, pretty much the same as others have posted, once you pay the deposit and sign all the paperwork at the dealership, you get the keys and drive off. About 3-4 weeks later, the payment paperwork comes in and depending on the finance company, monthly pay-in slips. Once again, depending on the finance company, you can pay at their branch, their ATM's, any other bank listed on the payment notice or online with your bank if they have the finance company listed as an online payee.

I recommend you make a separate note of the 2 numbers associated with your loan (it's in the paperwork and plastic card) and appears as "Ref1" and "Ref2" on pay-in slips in case you ever become separated from the latter or a payment comes up missing and you need to make an emergency payment.

[mogandave]

I was approved for a car loan without a guarantor, but ended up paying cash in the end because it was just too expensive.

I have a work permit and a couple of credit cards. I think if you get a credit card and develop a history it’s much easier.

[WarpSpeed]

What's a "re-payment"? Is that paying back double??