New Bike for Baht 5000 deposit ?

[ford8]

Gf says she can get new Honda about 60,000 Baht for 5000 baht deposit and 2,500 per month ( paid by me of course)..how many months were not stated.My plan would be to stop paying in the event of difficulties, but I would not want the heavy gang tracking me down.

She needs a bike so perhaps there is no hidden agenda.

I am prepared to pay a regular deposit at a regular Honda outlet but she seems to be blacklisted, I'm not sure about this, but can't find out why she cannot. The plot gets thicker !

Like everything that sounds too good o be true..does anyone know about this "scheme" or similar please.

[luis888]

I don't know what the interest rates are in Thailand but you're going to pay for at least 2 years and as she's blacklisted the contract will be in your name or you'll have to sign as guarantor so either way you'll be liable for the monthly payments or outstanding balance. If the bike's registered in your name and you split up with her the worst that can happen is you owning a bike that maybe you don't want but can sell........

[tingtong]

Here is a simple solution:

Instead of new bike, buy a second hand...

Should be able to find a decent enough for 15-20.000....

Your cost for the new was: 5000 deposit + 2500 monthly....

So, fingers crossed, if you and girlfriend dont have "difficulties" more than 4-5 months, you are ahead.

Moreover, you can own the bike, outright, with a potential resale value in case of those "difficulties".

Just a thought...

[ll2]

you cannot get a finance as a farang with these arrangements, you cannot even be a guarantor if you dont have a house or a proper job.

your gf cannot get too if she is blacklisted.

get a second hand.

[ford8]

She has not said that I need to go to the buy, so could this be true ?, I would like to think so,as not to be resposible in any "legal" way.

[casualbiker]

She has not said that I need to go to the buy, so could this be true ?, I would like to think so,as not to be resposible in any "legal" way.

The bike will be in her name. No real problem for you .. depending on where she buys!

Ask her the monthly % rate. I would have thought it would be about 1.5 - 2% .

24% per year (on 2%)

So on those figures. Paying over 3 years.

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[Udon Ray]

Here is a simple solution:

Instead of new bike, buy a second hand...

Should be able to find a decent enough for 15-20.000....

Your cost for the new was: 5000 deposit + 2500 monthly....

So, fingers crossed, if you and girlfriend dont have "difficulties" more than 4-5 months, you are ahead.

Moreover, you can own the bike, outright, with a potential resale value in case of those "difficulties".

Just a thought...

I think this is the better solution.

[luis888]

She has not said that I need to go to the buy, so could this be true ?, I would like to think so,as not to be resposible in any "legal" way.

The bike will be in her name. No real problem for you .. depending on where she buys!

Ask her the monthly % rate. I would have thought it would be about 1.5 - 2% .

24% per year (on 2%)

So on those figures. Paying over 3 years.

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Wow, is the interest rate on vehicle purchase that high in Thailand?

I agree, 2nd hand purchase is definatly the way to go

[casualbiker]

She has not said that I need to go to the buy, so could this be true ?, I would like to think so,as not to be resposible in any "legal" way.

The bike will be in her name. No real problem for you .. depending on where she buys!

Ask her the monthly % rate. I would have thought it would be about 1.5 - 2% .

24% per year (on 2%)

So on those figures. Paying over 3 years.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Wow, is the interest rate on vehicle purchase that high in Thailand?

I agree, 2nd hand purchase is definatly the way to go

That's for effectively a no check vehicle loan for a person with debatable payment background.

Proper car and bike loans are MUCH cheaper.

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[Turkleton]

the usual running-time is 36 months on motocys.

And as mentioned above, the interest is ridiculously high.

I bought a few bikes from an auction company, which over-handed the original loan contracts (from Suzuki finance/Yamaha finance/BAF,etc.) to me.

A Fino (cash: 47000 Baht) can easily turn into a 82000 Baht bike.

No joke....

[Marcel1]

Blacklisted? sounds together with unreliable to me..

Still want to help her? buy it new in your name and let her use it.

for you its difficult to get finance for her if blacklisted it goes with people you dont want to know..

[kiniyow]

Bike shops just Love to finance..This is there Bread and butter...

[onlycw]

Get a used Wave and take it to Honda. New wheel bearings, a complete service. And just a few thousand Baht depreciation p.a.

[JonnyF]

Get a used Wave and take it to Honda. New wheel bearings, a complete service. And just a few thousand Baht depreciation p.a.

Good, practical advice - not sure his girlfriend will like it though. Thais (especially girls) tend to like shiny new automatic scooters, not second hand Waves. Especially if someone else is picking up the bill.

[DLock]

If she needs a bike, how would she get one if you were not willing to fund it?

Easy answer. She would pay herself.

If she is blacklisted it could be something as simple as not paying a phone bill...but it could be as bad as defaulting on a car loan.

Her history suggests that she doesn't really care about paying stuff back...make sure that the full amount of money you give actually goes towards the bike...and it really costs 60,000 baht if you really want to fund the bike.

You're obviously new around here...so probably an easy mark. Think hard. You are under no obligation to fund your girlfriend a bike. Have you bought yourself a bike yet?

Sounds dodgy to me...

[Beardog]

If she is blacklisted that means she has already reneged on a loan or defaulted & had a repossession. No financier in their right mind would touch her with a 10" pole. She might even have a hard time securing a strong arm loan as well. If you are the guarantor of the loan you will wind up paying for the bike. If that is the case like everyone else has said put it in your name & pay it off that way you don't get fully stiffed on the bike. If she turns into a deadbeat pay the bike off quickly & take the penalty for early purchase. If it were my girl I would explain the facts of life to her & break her heart on signing for a loan on someone with bad credit history. Regardless of the story someone didn't pay the bill & she is a bad risk. Or be a bro & buy her a used bike if she doesn't like it touch titties!

I know it sounds calloused but do you really want to be the knight in shining armor that gets shafted in the end & you get to wear the sucker that she will take you for. If she understands then she has decent qualities. She can always make amends by making good on the bad debt if she is really concerned about taking care of her credit & get the Black Sheep status removed or satisfied.

But at the end of the day it is entirely up to you just don't be daft about it.

On your opening statements if your name is tangled on the paperwork if you stop payments the guys in the white CBR's will come & repo the bike after a couple of months on the default & You will be shafted as a deadbeat & will complicate your further purchases if you decide to buy a bigger bike for yourself or car. You will go into the blacklist as well. Tread lightly on this one sounds like it could be bad news & we hate reading about someone who made a poor decision knowing it was a bad risk up front. Get her a used one. Tell her you are not rich Farang & if she can't hang she possibly is not worth it anyway unless you are looking for the Jewish Princess type.

Edited February 5, 2014 by Beardog

[AllanB]

Not an auspicious start, credit blacklisted and wanting a new bike.

Bike shops make ALL their profit out of credit and virtually nothing on the bike, do you really want to fund them?

Loads of secondhand bikes around for 10-15k, buy one now and see how the relationship pans out.

It seems to me all farangs are accused of being a Cheap Charlie, .....better that now than feeling a mug tomorrow?

[robsamui]

She has not said that I need to go to the buy, so could this be true ?, I would like to think so,as not to be resposible in any "legal" way.

The bike will be in her name. No real problem for you .. depending on where she buys!

Ask her the monthly % rate. I would have thought it would be about 1.5 - 2% .

24% per year (on 2%)

So on those figures. Paying over 3 years.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Wow, is the interest rate on vehicle purchase that high in Thailand?

I agree, 2nd hand purchase is definatly the way to go

Correct me if I'm wrong, but the last time I went into this, the whole business of buying on credit over here is shameful.

As in if you buy over 3 years, the total simple interest at 2% a month (ie 2% of 50K = 1,000B a month X 36) which, added to the prime, comes to 86,000 baht.

If you decide to sell at any time before this has been paid off you are liable for the full total of 86,000 baht. It's why so many Thai sales are made on the basis of taking over payments rather than selling for cash and settling what's owed on the bike. Plus, of course, even if you are living here for many years with your own company, paying tax, and a long history of bank records, if you are not a Thai national then it's a total nightmare trying to get finance.

That happens to be my exact situation - the living here bit - and the best offers I got were if I firstly BOUGHT the bike outright, then signed the papers over to the bank, whereupon they would then lend me 80% of the cost of the bike (my bank, the one I've been with for 8 years, offered me only 60%), which I could then repay them at 2% a month.

I suppose it makes perfect sense if you are Thai . . .

Rob

Edited February 6, 2014 by robsamui

[casualbiker]

Rob. What bike?

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[casualbiker]

Rob. What bike?

Also you are slightly wrong about paying off. Most lenders will deduct remaining interest. It depends on the lender how much.

If it's a small bike then get an AEON card.. Honda will then do 0.89% per month. Mainly because you have already been credit checked .. most bike shop loans there is no check.

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[robsamui]

Rob. What bike?

Also you are slightly wrong about paying off. Most lenders will deduct remaining interest. It depends on the lender how much.

If it's a small bike then get an AEON card.. Honda will then do 0.89% per month. Mainly because you have already been credit checked .. most bike shop loans there is no check.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Wooooo - things have changed! I apologise.

This is really good to know!

Honda will do one even for a farang?

R

[robsamui]

Answer no!

Aeon themselves will not extend credit to a farang - the reply above indicates that this might happen at the Honda dealer . . . with a farang . . .??

I just had Tthe Aeon agent on my phone - he took 30 minutes talking about my application.

He had not read any of what I wrote on the application form. He asked me all the question over again. And then, finally, he asked me how old am I.

Then he told me that applicants can not be more than 60 years of age (I am 62).

On the application for there is nothing about this - there is a sliding scale to tick that goes to 80 years!

What a total waste of everyone's time. Amazing Thailand again.

R

[Briggsy]

Don't sign anything. Don't hand over your passport or copies of it. Pay cash and you'll be fine.

[casualbiker]

Answer no!

Aeon themselves will not extend credit to a farang - the reply above indicates that this might happen at the Honda dealer . . . with a farang . . .??

I just had Tthe Aeon agent on my phone - he took 30 minutes talking about my application.

He had not read any of what I wrote on the application form. He asked me all the question over again. And then, finally, he asked me how old am I.

Then he told me that applicants can not be more than 60 years of age (I am 62).

On the application for there is nothing about this - there is a sliding scale to tick that goes to 80 years!

What a total waste of everyone's time. Amazing Thailand again.

R

Well Filipino's are not Thai and I know 4 that have AEON cards.. but to be fair they didn't give one to me when I applied.

I think I need to get a nice dark tan. Then no ploblem

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Edited February 7, 2014 by casualbiker

[ford8]

End of Story ?...Quoted Total of Baht 95,000 for Scoopy Baht 44,800, What else can I do with my money ?

G/F goes off with deposit, texts for another Baht2500, I transfer.

Comes back no motorbike, returns Baht 6000, no explanation only "No Good"

I don't ask questions.a pointless.exercise.