sup3r1or Posted January 8, 2014 Share Posted January 8, 2014 I always wondered since I never bought one in credit, can lets say a teacher with WP get bikes in credits like Thai people do? If yes what is needed and is there any differences from Thai people? Link to comment Share on other sites More sharing options...
DILLIGAD Posted January 8, 2014 Share Posted January 8, 2014 I believe the answer is yes but you are best asking the company selling, as they may need different documents like a Cert of Residence from Immigration &/or a Thai guarantor ????? 1 Link to comment Share on other sites More sharing options...
Tywais Posted January 8, 2014 Share Posted January 8, 2014 I believe the answer is yes but you are best asking the company selling, as they may need different documents like a Cert of Residence from Immigration &/or a Thai guarantor ????? A WP works in lieu of a CR but depending on salary, down payment, etc. may require a guarantor. 2 Link to comment Share on other sites More sharing options...
NomadJoe Posted January 8, 2014 Share Posted January 8, 2014 Yes they can. I have done it twice. It's relatively easy, but different companies have different requirements. A Thai guarantor will needed but sometimes they will forgo this if you put more than 30-40% down. Finding a Thai garuntor that is willing and which qualifies will be the hardest part. Some may ask for a Thai bank account. They do not check your credit in your home country. As a farang you are automatically in the lowest default rate category. 1 Link to comment Share on other sites More sharing options...
MadMac Posted January 8, 2014 Share Posted January 8, 2014 It's ridiculous expensive. They charge like 1/3 on top of the bike price and are only happy to take it back if you fail on one rate. Would advise against it. Get a bank loan and buy the bike in cash. Or get one of the failed financed returns for half the price at an auction (google union-auction) 1 Link to comment Share on other sites More sharing options...
VocalNeal Posted January 9, 2014 Share Posted January 9, 2014 It's ridiculous expensive. They charge like 1/3 on top of the bike price and are only happy to take it back if you fail on one rate. Would advise against it. Get a bank loan and buy the bike in cash. Or get one of the failed financed returns for half the price at an auction (google union-auction) This is for all not only foreigners. This is a common CBC money making scheme. Take deposit, charge high interest, owner fails one payment usually after a couple of years near end of term. Bike gets repossessed, everything lost. I know at least one guy to whom this has happened before, twice. You ask why twice? Because really at that level of society they have little choice. Honda won't give them credit. Link to comment Share on other sites More sharing options...
bramds Posted January 9, 2014 Share Posted January 9, 2014 It is ridiculous but you need a Thai person to sign with you, in case you fail payments, they can get it from the Thai person. The Thai person of course also needs to prove they have an income. So a bargirl doesn't qualify. Link to comment Share on other sites More sharing options...
NomadJoe Posted January 9, 2014 Share Posted January 9, 2014 It is ridiculous but you need a Thai person to sign with you, in case you fail payments, they can get it from the Thai person. The Thai person of course also needs to prove they have an income. So a bargirl doesn't qualify. I put 40% down and they didn't ask for a guarantor. Link to comment Share on other sites More sharing options...
NomadJoe Posted January 9, 2014 Share Posted January 9, 2014 It's ridiculous expensive. They charge like 1/3 on top of the bike price and are only happy to take it back if you fail on one rate. Would advise against it. Get a bank loan and buy the bike in cash. Or get one of the failed financed returns for half the price at an auction (google union-auction) The rates are the same as the Thai rates. But look carefully at the terms. They calculate interest rates differently here. Link to comment Share on other sites More sharing options...
sup3r1or Posted January 9, 2014 Author Share Posted January 9, 2014 When is the new Versys out? It has been quite a few years already since they last updated it. 1 Link to comment Share on other sites More sharing options...
yankee99 Posted January 9, 2014 Share Posted January 9, 2014 It's ridiculous expensive. They charge like 1/3 on top of the bike price and are only happy to take it back if you fail on one rate. Would advise against it. Get a bank loan and buy the bike in cash. Or get one of the failed financed returns for half the price at an auction (google union-auction) This is not really the case!! I got a loan with no job or WP but with a co-signer @ 25% down. I could have done it solo with more down but used the co-signer,,,fyi the co0signer has never had a job and doesnt own anything but is my wife...the rate was very low maybe 2-3% cant remember and the bike was the same price as cash..... The financing is not simple interest so be careful....You will pay the full interest on the original amount per year for the term of the loan. Also very little in return for early payment., Link to comment Share on other sites More sharing options...
biker Bob Posted January 9, 2014 Share Posted January 9, 2014 I have bought a car and a bike here on finance. For the the car i paid 30% down so no need for a guarantor. The bike 50% down so no need for one there either. I don't know how much you have to put down on a bike to avoid a guarantor but for the car ( Toyota ) it was 30%. Jan 1 Link to comment Share on other sites More sharing options...
CroBiker Posted January 9, 2014 Share Posted January 9, 2014 Bought the car and the bike with 50% downpayment, no work permit but valid non-o visa. My wife was guarantor. In both cases I knew owners of the dealerships who put good word for me with financiers so that helped a lot too. Link to comment Share on other sites More sharing options...
recom273 Posted January 9, 2014 Share Posted January 9, 2014 IMHO If you have the funds, and you want to use finance to use your funds in another area / make your money work for you and you fulfill the criteria, then its way easier than my home country. I dont know where posters got the idea of 1/3 or sky high interest rates, I was offered a bike at 1.5% over a year, but it varies on the down payment amount. Im married to a Thai, but one would assume you would need an employed Thai guarantor whatever. Link to comment Share on other sites More sharing options...
dave_boo Posted January 9, 2014 Share Posted January 9, 2014 Just in case somebody doesn't understand, here's how Thai finance works. You go in to buy a new vehicle. I'm going to take the example of Ford as an inlaw is in the process of purchasing a Ranger. For her, a first time buyer, they required 25% down to purchase without a guarantor. So, out of the 828K she has to put down 165 600 (plus taxes and insurance). Means she has to have 662 400 financed. Right now they are offering 2.8%. Meaning she will have to pay 18 547,2 per year of the contract. As she can not afford to pay more than 15K month, she is looking at the 4 year plan. So, with the amount to be financed, plus the interest over 4 years, she will have to pay off 736 588,8 (662 400 + (4 x 18 547,2)) at 15 345,6 per month. 1 Link to comment Share on other sites More sharing options...
ozyjon Posted January 9, 2014 Share Posted January 9, 2014 Ask for the details then do your sums, you will end up paying for that bike 2 times, you need a Thai to go guarantor, good luck finding one as most of the people i know have a red flag against their name,, i hear a teacher has a better chance at being a sponsor but you might have to pay them, so the bike that was going to cost you 2 times will now cost you 3 times. Link to comment Share on other sites More sharing options...
recom273 Posted January 9, 2014 Share Posted January 9, 2014 Yup, only one way forward, marry a Thai teacher preferably with a shrimp farm or rubber / palm oil plantation .. How bad do you want that Versys ? Link to comment Share on other sites More sharing options...
brfsa2 Posted January 9, 2014 Share Posted January 9, 2014 At motorexpo 2013 I could buy a honda CB500F with 30% down and 4% interest over 18-24 months, but I chose to buy it cash and don't deal with the finance people. They are annoying and you have to keep chasing them like crazy if you the finance. at first I tried, but then after a few days of taking their BS$ I went to bigwing with the cash on hand, it was funny to see their faces that day. if you can buy it cash do it, otherwise keep saving till you have it all... best advice. Link to comment Share on other sites More sharing options...
Turkleton Posted January 10, 2014 Share Posted January 10, 2014 if you can buy it cash do it, otherwise keep saving till you have it all... best advice. +1 ...if you can't afford it (especially a relatively cheap bike), save your money until you can buy cash! Link to comment Share on other sites More sharing options...
ll2 Posted January 11, 2014 Share Posted January 11, 2014 bigwing needs a guarantor for finance for foreigners even if you state a million baht in your bank account, they said they still need!!! Ducati does not need a guarantor. Link to comment Share on other sites More sharing options...
Guitar God Posted January 13, 2014 Share Posted January 13, 2014 I went to put a bike in my name and work permit or not they still asked for my Yellow Book (certificate of residency). Maybe it was the place I went or the person we spoke with but I would check that out with the transportation department or someone who knows for sure to avoid problems when it comes time to register it. Link to comment Share on other sites More sharing options...
sup3r1or Posted January 30, 2014 Author Share Posted January 30, 2014 Ok I see, well its okay I do have Yellow book so it should be okay, next time I will got to BW I will ask what is needed. Do you reckon they also do trade ins like with cars is I bought my 500 from them and swap it out for 650? Or rather sell it? Link to comment Share on other sites More sharing options...
casualbiker Posted January 30, 2014 Share Posted January 30, 2014 Ok I see, well its okay I do have Yellow book so it should be okay, next time I will got to BW I will ask what is needed. Do you reckon they also do trade ins like with cars is I bought my 500 from them and swap it out for 650? Or rather sell it? another poster said that BKK BiGg Wing are offering trade in's. I would trade it in seeing as they bolloxed up the repairs and servicing you had done there! 1 Link to comment Share on other sites More sharing options...
furyrider Posted January 30, 2014 Share Posted January 30, 2014 It is ridiculous but you need a Thai person to sign with you, in case you fail payments, they can get it from the Thai person. The Thai person of course also needs to prove they have an income. So a bargirl doesn't qualify. Hell as much as some of them make they should qualify Link to comment Share on other sites More sharing options...
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