Bike finance

[irishtoffy]

I have been looking for more information on bike finance, both new and 2nd hand bikes, but can find very little up to date information so hopefully some recent buyers or more knowledgeable members can provide some up to date info.

 

Some questions that might be useful to have answered below:

 

As I understand buying new bikes on finance seems to be much easier and can be done in foreigners name? Is this true? Are some dealers reluctant to do this or do  all the main dealers (Kawa, Honda) now offer this as standard with no hassle?

 

Is a Thai counter-signer needed for new bikes?

 

For 2nd hand bikes, how do people usually get credit for them? Is it possible or not?

 

Is this done through a finance company? Or a bank? Which is best? Do both offer finance to foreigners? Or does it need to be in a Thais name? Was a Thai counter-signer needed?

 

Which banks or finance companies, in peoples experience, would or would not offer finance?

 

Or at the end of the day, is it just impossible to do it in your own name and either don't bother or get a Thai to do it for you?!

 

 

Cheers for any informative responses!

 

 

 

Edited May 27, 2014 by irishtoffy

[H1w4yR1da]

If you have a Work Permit, legal employment contract and decent salary, finance should not be a problem even without a guarantor. Most large big bike dealers offer it, check their websites.

I'm not sure about secondhand bikes though but I think doubtful.

Edited May 28, 2014 by H1w4yR1da

[ll2]

for bikes, it is a bit harder to get finance what i understand.

For Honda last time i asked, it was complicated. they need a guarantor currently working with good credit score and with yellow book or company owner etc. 

They dont even care of you work or not as long as your Thai guarantor has a good credit score. Strange thing is even if you are a shareholder of a company in Thailand or won houses, still they ask a Thai guarantor funnily!

Sure Kawasaki is the same.

The thing is when i wanted to do finance for a truck, they ask nearly nothing. Just my passport, work permit and shareholder papers! Much more easier to buy a car than a bike for foreigners in Thailand for sure!

But Ducati is much more relaxed on finance as they do their own financing unlike Honda or Kawa which use banks. if you are a shareholder of a company in Thailand or houses/cars, they do finance quickly.

 

For second hand bikes, you can do finance but believe me, interest rates are rocket high on those small finances that they make god knows with which company. Plus they ask Thai guarantor with yellow house book or company owner documents etc.

[irishtoffy]

If you have a Work Permit, legal employment contract and decent salary, finance should not be a problem even without a guarantor. Most large big bike dealers offer it, check their websites.

I'm not sure about secondhand bikes though but I think doubtful.

 

I checked to see anything worth checking out on the Honda or Kawasaki websites?

 

Thanks for the response!

[irishtoffy]

for bikes, it is a bit harder to get finance what i understand.

For Honda last time i asked, it was complicated. they need a guarantor currently working with good credit score and with yellow book or company owner etc. 

They dont even care of you work or not as long as your Thai guarantor has a good credit score. Strange thing is even if you are a shareholder of a company in Thailand or won houses, still they ask a Thai guarantor funnily!

Sure Kawasaki is the same.

The thing is when i wanted to do finance for a truck, they ask nearly nothing. Just my passport, work permit and shareholder papers! Much more easier to buy a car than a bike for foreigners in Thailand for sure!

But Ducati is much more relaxed on finance as they do their own financing unlike Honda or Kawa which use banks. if you are a shareholder of a company in Thailand or houses/cars, they do finance quickly.

 

For second hand bikes, you can do finance but believe me, interest rates are rocket high on those small finances that they make god knows with which company. Plus they ask Thai guarantor with yellow house book or company owner documents etc.

 

Does anyone have experience buying a 2nd hand bike from an official dealer? Does the finance work just like it is a new bike from the dealer? Or would it be subject to the higher interest rate that seems to take effect on 2nd hand bikes?

[ll2]

 

for bikes, it is a bit harder to get finance what i understand.

For Honda last time i asked, it was complicated. they need a guarantor currently working with good credit score and with yellow book or company owner etc. 

They dont even care of you work or not as long as your Thai guarantor has a good credit score. Strange thing is even if you are a shareholder of a company in Thailand or won houses, still they ask a Thai guarantor funnily!

Sure Kawasaki is the same.

The thing is when i wanted to do finance for a truck, they ask nearly nothing. Just my passport, work permit and shareholder papers! Much more easier to buy a car than a bike for foreigners in Thailand for sure!

But Ducati is much more relaxed on finance as they do their own financing unlike Honda or Kawa which use banks. if you are a shareholder of a company in Thailand or houses/cars, they do finance quickly.

 

For second hand bikes, you can do finance but believe me, interest rates are rocket high on those small finances that they make god knows with which company. Plus they ask Thai guarantor with yellow house book or company owner documents etc.

 

Does anyone have experience buying a 2nd hand bike from an official dealer? Does the finance work just like it is a new bike from the dealer? Or would it be subject to the higher interest rate that seems to take effect on 2nd hand bikes?

 

 

i was about to get a 2nd hand cbr600rr here with finance. But 300 k i needed to pay was 450 k with finance for i remember 3 years so i say No! of course.

For second hand bikes, interest rates are a lot higher as i think they do the finance with some dodgy places.

The rest is same, they ask for a Thai guarantor working or owning things in Thailand.

[irishtoffy]

 

 

for bikes, it is a bit harder to get finance what i understand.

For Honda last time i asked, it was complicated. they need a guarantor currently working with good credit score and with yellow book or company owner etc. 

They dont even care of you work or not as long as your Thai guarantor has a good credit score. Strange thing is even if you are a shareholder of a company in Thailand or won houses, still they ask a Thai guarantor funnily!

Sure Kawasaki is the same.

The thing is when i wanted to do finance for a truck, they ask nearly nothing. Just my passport, work permit and shareholder papers! Much more easier to buy a car than a bike for foreigners in Thailand for sure!

But Ducati is much more relaxed on finance as they do their own financing unlike Honda or Kawa which use banks. if you are a shareholder of a company in Thailand or houses/cars, they do finance quickly.

 

For second hand bikes, you can do finance but believe me, interest rates are rocket high on those small finances that they make god knows with which company. Plus they ask Thai guarantor with yellow house book or company owner documents etc.

 

Does anyone have experience buying a 2nd hand bike from an official dealer? Does the finance work just like it is a new bike from the dealer? Or would it be subject to the higher interest rate that seems to take effect on 2nd hand bikes?

 

 

i was about to get a 2nd hand cbr600rr here with finance. But 300 k i needed to pay was 450 k with finance for i remember 3 years so i say No! of course.

For second hand bikes, interest rates are a lot higher as i think they do the finance with some dodgy places.

The rest is same, they ask for a Thai guarantor working or owning things in Thailand.

 

 

Wow..that's extremely high interest rates for 2nd hand! 50% over 3 years extra seems a bit much. Like almost 20% per year!

 

I am thinking between the kawa er 6n, and the Honda CB650F...both around the same price. I guess it will be whichever one is easiest to get finance from will win. And also the cheapest over the loan term of course. 

 

I have a Work Permit, and a salary that more than covers it, and a long period of time with bank statements showing income.

 

Hopefully that will be enough to get it in my own name, without a guarantor!

[JohnPark]

I couldn't get finance from Honda or Kawasaki. No WP and my wife doesn't work, we managed to get cash by extending my car finance for an extra year and they (TISCO) put the money into my wife's account so I could buy my new bike in my name.

 

Not ideal for everyone but seemed to be our only option.

[ll2]

 

 

for bikes, it is a bit harder to get finance what i understand.
For Honda last time i asked, it was complicated. they need a guarantor currently working with good credit score and with yellow book or company owner etc. 
They dont even care of you work or not as long as your Thai guarantor has a good credit score. Strange thing is even if you are a shareholder of a company in Thailand or won houses, still they ask a Thai guarantor funnily!
Sure Kawasaki is the same.
The thing is when i wanted to do finance for a truck, they ask nearly nothing. Just my passport, work permit and shareholder papers! Much more easier to buy a car than a bike for foreigners in Thailand for sure!
But Ducati is much more relaxed on finance as they do their own financing unlike Honda or Kawa which use banks. if you are a shareholder of a company in Thailand or houses/cars, they do finance quickly.
 
For second hand bikes, you can do finance but believe me, interest rates are rocket high on those small finances that they make god knows with which company. Plus they ask Thai guarantor with yellow house book or company owner documents etc.

 
Does anyone have experience buying a 2nd hand bike from an official dealer? Does the finance work just like it is a new bike from the dealer? Or would it be subject to the higher interest rate that seems to take effect on 2nd hand bikes?
 

 
i was about to get a 2nd hand cbr600rr here with finance. But 300 k i needed to pay was 450 k with finance for i remember 3 years so i say No! of course.
For second hand bikes, interest rates are a lot higher as i think they do the finance with some dodgy places.
The rest is same, they ask for a Thai guarantor working or owning things in Thailand.
 

 
Wow..that's extremely high interest rates for 2nd hand! 50% over 3 years extra seems a bit much. Like almost 20% per year!
 
I am thinking between the kawa er 6n, and the Honda CB650F...both around the same price. I guess it will be whichever one is easiest to get finance from will win. And also the cheapest over the loan term of course. 
 
I have a Work Permit, and a salary that more than covers it, and a long period of time with bank statements showing income.
 
Hopefully that will be enough to get it in my own name, without a guarantor!

You cant get finance option by your own from honda or kawasaki. I stated this above.
Even if you own house or own a company, they still ask a thai guaranteur working or owning a house with good credit score.
You can try Ducati. They are more relaxed and do finance without a guaranteur.

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[CDNinLOS]

A buddy of mine recently bought a new Ducati with 50% down and he had issue with them wanting a Thai guarantor, he has a work permit money here, but his purchase was delayed for 2 months and he was ready to pull out and lose the deposit over it, eventually they agreed.

 

I had no problem with Kawasaki when I purchased my Ninja a few years back, put down the 30%, work permit, no guarantor, when I just recently bought my Harley, 50% down they wanted a guarantor as well, but accepted my wife who doesn't work, after some negotiation. We do own a house a well, but really Kawasaki was a lot easy for me than Harley and Ducati for my buddy. 

[irishtoffy]

A buddy of mine recently bought a new Ducati with 50% down and he had issue with them wanting a Thai guarantor, he has a work permit money here, but his purchase was delayed for 2 months and he was ready to pull out and lose the deposit over it, eventually they agreed.

 

I had no problem with Kawasaki when I purchased my Ninja a few years back, put down the 30%, work permit, no guarantor, when I just recently bought my Harley, 50% down they wanted a guarantor as well, but accepted my wife who doesn't work, after some negotiation. We do own a house a well, but really Kawasaki was a lot easy for me than Harley and Ducati for my buddy. 

 

That's great news! I remember reading somewhere else that Kawa/Honda were ok providing finance to foreigners in their own name provided a WP, bank statements and a bigger deposit than normal (30% i read also) were forthcoming.

 

Can I ask which town/city or brancj of Kawa provided the finance?

 

I t does also seem like it is very much on a case by case basis whether or not they do it. And also probably depends on what mood they are in!

[CDNinLOS]

It was at Kawasaki showroom on Rama 9 in Bangkok, I'm not sure if they are still selling from there or not. It was through Ratchathani(sp?) finance. 3 years ago now.

But yes I only put 30% down on my Ninja, no guarantor, in my name.


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[Wong!]

My bike has finance in my wife's name. Honda BW in Udon used either SCB or Kasikorn. We went with Kasikorn with a 25% deposit over 18 months. I think it's 3% interest.

Kasikorn initially tried to pull a fast one by saying that they could only do it over 3 years, so my wife said we would pull our 9 bank accounts from them. They then woke up and did their jobs properly.

Sent from my GT-P3100 using Tapatalk

[irishtoffy]

My bike has finance in my wife's name. Honda BW in Udon used either SCB or Kasikorn. We went with Kasikorn with a 25% deposit over 18 months. I think it's 3% interest.

Kasikorn initially tried to pull a fast one by saying that they could only do it over 3 years, so my wife said we would pull our 9 bank accounts from them. They then woke up and did their jobs properly.

Sent from my GT-P3100 using Tapatalk

 

Here is a link I found quoting prices/down payment/ and corresponding monthly repayments over different time periods for the CB/CBR 650F.

 

http://www.cb650fclub.com/forum/index.php?topic=60.0

 

The total interest payable over 24 months on CB650F is only 300k. The cash price is 285k..that seems like a great rate to me! 

 

Just wonder whether or not a farang could get the same rate...

[Wong!]

My bike has finance in my wife's name. Honda BW in Udon used either SCB or Kasikorn. We went with Kasikorn with a 25% deposit over 18 months. I think it's 3% interest.

Kasikorn initially tried to pull a fast one by saying that they could only do it over 3 years, so my wife said we would pull our 9 bank accounts from them. They then woke up and did their jobs properly.

Sent from my GT-P3100 using Tapatalk

 
Here is a link I found quoting prices/down payment/ and corresponding monthly repayments over different time periods for the CB/CBR 650F.
 
http://www.cb650fclub.com/forum/index.php?topic=60.0
 
The total interest payable over 24 months on CB650F is only 300k. The cash price is 285k..that seems like a great rate to me! 
 
Just wonder whether or not a farang could get the same rate...

Foreigner or Thai will make no difference if you can show that you are a good investment to the loaner.

Sent from my GT-P3100 using Tapatalk

[irishtoffy]

Well..I paid a visit to both the Kawa shop and Honda Big Wing today and got some more info from the horses mouth so to speak!

 

Kawa for the er-6n is cash price of 275,000, they require a 30% upfront payment, and 24 months at approx 9000 per month. So a total repayable of around the 300,000 mark. So not really too expensive for interest it seems. 

 

The Honda CB650F has cash price of 285,000, they only require a 20% upfront payment (they said anyway, not the actual finance company..), and 24 repayments of 10,640 So a total repayable of approx. 312,000. Again not extortionate interest rate.

 

Both Kawa and Honda are willing to provide finance to a foreigner in their own name, provided you have a valid longer term visa, a Work Permit, bank statements and Pay slips for at least 6 months.

 

Both also require a Thai guarantor (unfortunately), although like I said they will still provide it in the foreigners name no problem. The Thai also needs to have bank statements/pay slips.

 

They also both require top insurance to be purchased, both about 16,000 as part of the price you have to pay to get the bikes out of the shop. And the registration also costs about 3,000.

 

The other thing is..Kawa have the ER-6N ready to go. The Honda CB650F I was quoted a 3 month waiting time!! There must have been at least 40 brand new (CB650F/CBR650F) bikes outside the shop..and apparently they are all sold/ordered already! So seems like the CB will be a very popular bike.

 

The Kawa shop said it would only take 1-3 days to have the bike ready to go when upfront payments were done.

 

Coincidentally I spotted my first CB650 on the roads today..the guy was absolutely flying around a tight corner and almost came on to the other side of the road in to oncoming traffic. he must have been well over 100, with the knee almost down on a busy road. I can't help but think he had just got it out of the shop today and got a bit carried away!

 

 

[ll2]

Well..I paid a visit to both the Kawa shop and Honda Big Wing today and got some more info from the horses mouth so to speak!
 
Kawa for the er-6n is cash price of 275,000, they require a 30% upfront payment, and 24 months at approx 9000 per month. So a total repayable of around the 300,000 mark. So not really too expensive for interest it seems. 
 
The Honda CB650F has cash price of 285,000, they only require a 20% upfront payment (they said anyway, not the actual finance company..), and 24 repayments of 10,640 So a total repayable of approx. 312,000. Again not extortionate interest rate.
 
Both Kawa and Honda are willing to provide finance to a foreigner in their own name, provided you have a valid longer term visa, a Work Permit, bank statements and Pay slips for at least 6 months.
 
Both also require a Thai guarantor (unfortunately), although like I said they will still provide it in the foreigners name no problem. The Thai also needs to have bank statements/pay slips.
 
They also both require top insurance to be purchased, both about 16,000 as part of the price you have to pay to get the bikes out of the shop. And the registration also costs about 3,000.
 
The other thing is..Kawa have the ER-6N ready to go. The Honda CB650F I was quoted a 3 month waiting time!! There must have been at least 40 brand new (CB650F/CBR650F) bikes outside the shop..and apparently they are all sold/ordered already! So seems like the CB will be a very popular bike.
 
The Kawa shop said it would only take 1-3 days to have the bike ready to go when upfront payments were done.
 
Coincidentally I spotted my first CB650 on the roads today..the guy was absolutely flying around a tight corner and almost came on to the other side of the road in to oncoming traffic. he must have been well over 100, with the knee almost down on a busy road. I can't help but think he had just got it out of the shop today and got a bit carried away!
 
 

650 series worth the 3 months wait!
Better value/performance.

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[irishtoffy]

 

Well..I paid a visit to both the Kawa shop and Honda Big Wing today and got some more info from the horses mouth so to speak!
 
Kawa for the er-6n is cash price of 275,000, they require a 30% upfront payment, and 24 months at approx 9000 per month. So a total repayable of around the 300,000 mark. So not really too expensive for interest it seems. 
 
The Honda CB650F has cash price of 285,000, they only require a 20% upfront payment (they said anyway, not the actual finance company..), and 24 repayments of 10,640 So a total repayable of approx. 312,000. Again not extortionate interest rate.
 
Both Kawa and Honda are willing to provide finance to a foreigner in their own name, provided you have a valid longer term visa, a Work Permit, bank statements and Pay slips for at least 6 months.
 
Both also require a Thai guarantor (unfortunately), although like I said they will still provide it in the foreigners name no problem. The Thai also needs to have bank statements/pay slips.
 
They also both require top insurance to be purchased, both about 16,000 as part of the price you have to pay to get the bikes out of the shop. And the registration also costs about 3,000.
 
The other thing is..Kawa have the ER-6N ready to go. The Honda CB650F I was quoted a 3 month waiting time!! There must have been at least 40 brand new (CB650F/CBR650F) bikes outside the shop..and apparently they are all sold/ordered already! So seems like the CB will be a very popular bike.
 
The Kawa shop said it would only take 1-3 days to have the bike ready to go when upfront payments were done.
 
Coincidentally I spotted my first CB650 on the roads today..the guy was absolutely flying around a tight corner and almost came on to the other side of the road in to oncoming traffic. he must have been well over 100, with the knee almost down on a busy road. I can't help but think he had just got it out of the shop today and got a bit carried away!
 
 

650 series worth the 3 months wait!
Better value/performance.

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

 

 

You think?  I have been reading about them, and the performance seems more akin to a 2 cylinder due to some detuning by Honda to make it more accessible to all riders. As opposed to super high revving inline 4s like the CBR600RR.

 

I do love the sound of an inline 4 though...

 

Do you have either at all? Had either? Or driven either or know anyone who has?

 

I kind of am veering to wards the Honda anyway..because my local kawa dealer is quite famous for their poor maintenance and servicing, rudeness and general all-round being crap at their jobs.

 

I had a Nina before which I took for a service there (although not bought from there), and the bike came back with a few scrapes looking like it had been dropped.

 

The horror stories I have heard from others also don't fill me with much confidence to do business with them. Among other things, guys buying new bikes and riding it away only to find lots of screws around the wheels were only finger tightened, the gy was lucky he didn't crash on the way home and took it to a farang bike mechanic he knew to find out why it felt funny riding it. Another is someone asking for new grips on effectively a brand new KLX..to hear electric saw down the back..went to look and they were hacking off the handle bars of his new bike! They came back an inch shorter, and couldn't understand why he was going nuts as they 'had fitted the grips lie he asked'!! And their general all round rudeness whenever I 've asked them for any advice/infohelp leads me to believe they could be well capable of doing things like that. 

 

The difference in customer service in Honda Big Wing is night and day. So I would hope their mechanics and servicing ability are in a similar vein.

 

The shops are in pattaya by the way..that Kawa shop is notorious!

[ll2]

 

 

Well..I paid a visit to both the Kawa shop and Honda Big Wing today and got some more info from the horses mouth so to speak!
 
Kawa for the er-6n is cash price of 275,000, they require a 30% upfront payment, and 24 months at approx 9000 per month. So a total repayable of around the 300,000 mark. So not really too expensive for interest it seems. 
 
The Honda CB650F has cash price of 285,000, they only require a 20% upfront payment (they said anyway, not the actual finance company..), and 24 repayments of 10,640 So a total repayable of approx. 312,000. Again not extortionate interest rate.
 
Both Kawa and Honda are willing to provide finance to a foreigner in their own name, provided you have a valid longer term visa, a Work Permit, bank statements and Pay slips for at least 6 months.
 
Both also require a Thai guarantor (unfortunately), although like I said they will still provide it in the foreigners name no problem. The Thai also needs to have bank statements/pay slips.
 
They also both require top insurance to be purchased, both about 16,000 as part of the price you have to pay to get the bikes out of the shop. And the registration also costs about 3,000.
 
The other thing is..Kawa have the ER-6N ready to go. The Honda CB650F I was quoted a 3 month waiting time!! There must have been at least 40 brand new (CB650F/CBR650F) bikes outside the shop..and apparently they are all sold/ordered already! So seems like the CB will be a very popular bike.
 
The Kawa shop said it would only take 1-3 days to have the bike ready to go when upfront payments were done.
 
Coincidentally I spotted my first CB650 on the roads today..the guy was absolutely flying around a tight corner and almost came on to the other side of the road in to oncoming traffic. he must have been well over 100, with the knee almost down on a busy road. I can't help but think he had just got it out of the shop today and got a bit carried away!
 
 

650 series worth the 3 months wait!
Better value/performance.

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

 

 

You think?  I have been reading about them, and the performance seems more akin to a 2 cylinder due to some detuning by Honda to make it more accessible to all riders. As opposed to super high revving inline 4s like the CBR600RR.

 

I do love the sound of an inline 4 though...

 

Do you have either at all? Had either? Or driven either or know anyone who has?

 

I kind of am veering to wards the Honda anyway..because my local kawa dealer is quite famous for their poor maintenance and servicing, rudeness and general all-round being crap at their jobs.

 

I had a Nina before which I took for a service there (although not bought from there), and the bike came back with a few scrapes looking like it had been dropped.

 

The horror stories I have heard from others also don't fill me with much confidence to do business with them. Among other things, guys buying new bikes and riding it away only to find lots of screws around the wheels were only finger tightened, the gy was lucky he didn't crash on the way home and took it to a farang bike mechanic he knew to find out why it felt funny riding it. Another is someone asking for new grips on effectively a brand new KLX..to hear electric saw down the back..went to look and they were hacking off the handle bars of his new bike! They came back an inch shorter, and couldn't understand why he was going nuts as they 'had fitted the grips lie he asked'!! And their general all round rudeness whenever I 've asked them for any advice/infohelp leads me to believe they could be well capable of doing things like that. 

 

The difference in customer service in Honda Big Wing is night and day. So I would hope their mechanics and servicing ability are in a similar vein.

 

The shops are in pattaya by the way..that Kawa shop is notorious!

 

 

It is not detuned. Just produced this way.

Also it is a revvy inline four, no worries on that. But sure not as revvy and rpm full like a cbr600rr but I think it is a good thing imo as you get torque down then.

I own a cbr650f and rode Kawai ER series many times. Rode cb650f too.

ER series are also good bikes, you cannot get wrong with one if you don't have enough time in Thailand.

But if you have time, cb650f is a no brainer sure.

Service is great at bkk bigwing. Never seen that level of service before in Thailand to be honest. Kawai service is not bad too based on reviews.

[irishtoffy]

Yes I rode the Er bikes before and loved them, which is why I then started to think about losing my single thumper and getting a more modern, revvier bike.

 

As much as I loved riding the er, I am sure the Honda will be just as good an experience plus its an inline 4, all for only a few baht more than the er. 

 

Plus Hondas service level of course...definitely swing my decision towards the CB650 for me personally.

 

How long have they been out in thailand now?

 

I find it odd the are so popular to have 40 odd bikes already sold at the showroom..yet I dont recall seeing any at all on the road until today. Maybe they have only been delivering them in the past week or 2?

[SMSinBangkok]

Well..I paid a visit to both the Kawa shop and Honda Big Wing today and got some more info from the horses mouth so to speak!

 

Kawa for the er-6n is cash price of 275,000, they require a 30% upfront payment, and 24 months at approx 9000 per month. So a total repayable of around the 300,000 mark. So not really too expensive for interest it seems. 

 

The Honda CB650F has cash price of 285,000, they only require a 20% upfront payment (they said anyway, not the actual finance company..), and 24 repayments of 10,640 So a total repayable of approx. 312,000. Again not extortionate interest rate.

 

Both Kawa and Honda are willing to provide finance to a foreigner in their own name, provided you have a valid longer term visa, a Work Permit, bank statements and Pay slips for at least 6 months.

 

Both also require a Thai guarantor (unfortunately), although like I said they will still provide it in the foreigners name no problem. The Thai also needs to have bank statements/pay slips.

 

They also both require top insurance to be purchased, both about 16,000 as part of the price you have to pay to get the bikes out of the shop. And the registration also costs about 3,000.

 

The other thing is..Kawa have the ER-6N ready to go. The Honda CB650F I was quoted a 3 month waiting time!! There must have been at least 40 brand new (CB650F/CBR650F) bikes outside the shop..and apparently they are all sold/ordered already! So seems like the CB will be a very popular bike.

 

The Kawa shop said it would only take 1-3 days to have the bike ready to go when upfront payments were done.

 

Coincidentally I spotted my first CB650 on the roads today..the guy was absolutely flying around a tight corner and almost came on to the other side of the road in to oncoming traffic. he must have been well over 100, with the knee almost down on a busy road. I can't help but think he had just got it out of the shop today and got a bit carried away!

 

 

 

A bit off-topic, but totally agree about the Kawa-dealer in Pattaya. Crap service. Bought a relatively expensive backpack, 5000 Baht. Must have been a copy as the zippers went after two weeks and one of the holders loosened after one month. Went back and demanded a new since the backpack came with a one year guarantee (or so they told me verbally when I bought it). The very rude lady who sold it to me said she had never said anything about a guarantee. Rude AND a liar. The best they could do was offer me a 10% discount on a new backpack in the same pricerange.

[SMSinBangkok]

Denied finance at Ducati Thonglor as a farang

 

Last week, after almost two weeks studying all my documents (payslips, bank statements, visa, work permit, passport), Ducatis financing bank, Krungsri, denied me finance since I do not have a Thai guarantor. 

 

The bike I wanted to finance is the new Ducati Monster 1200S, priced at 1.099.000 Baht. Before they turned me down they said as a foreigner they wanted 40% downpayment and not 30% as for Thais. 

 

The day before they turned me down I was getting worried so I called them and said I could make a 50% downpayment. Even that did not help.

 

I have been living and working in Thailand 5 years and I earn 250.000 baht a month.

 

Whats this with the Thai guarantor bit? I don´t understand.

[ll2]

Denied finance at Ducati Thonglor as a farang

 

Last week, after almost two weeks studying all my documents (payslips, bank statements, visa, work permit, passport), Ducatis financing bank, Krungsri, denied me finance since I do not have a Thai guarantor. 

 

The bike I wanted to finance is the new Ducati Monster 1200S, priced at 1.099.000 Baht. Before they turned me down they said as a foreigner they wanted 40% downpayment and not 30% as for Thais. 

 

The day before they turned me down I was getting worried so I called them and said I could make a 50% downpayment. Even that did not help.

 

I have been living and working in Thailand 5 years and I earn 250.000 baht a month.

 

Whats this with the Thai guarantor bit? I don´t understand.

 

Same .king thing here. I wanted to get a finance first from Honda but finance companies there drove me crazy as although I earn an ok amount a month and provided them shareholder documents from company, still they said no! You need a Thai guarantor working for a salary!

Strange really as if I bring a Thai guarantor working for 15 k thb a month! and for a while, they did not even need salary statements or shareholder documents from me!

They drove me crazy as only way was making my boss as a guarantor and it was like loosing face and shameful. 

I was about to get Ducati that time as they only asked salary statements and company documents.

After cooling down a bit,  bought my Honda though, cash and trade in, no finance.

I see no reason for this finance s..t

I felt like a dog that time.

Edited July 19, 2014 by ll2

[brfsa2]

This finance thing in Thailand is ****ing nightmare. I've tried, I have Thai garantor, and a decent salary too, but I changed job a few times and had salary slips from different companies. 

 

The finance people treat you like sh*t, they lie to you, change their mind, never return your calls, and you have to be chasing them all the time to get documents and negotiating.

 

I bought my CB500F in cash, the same sales guys that acted arrogant to me was there too, I loved seing his face when I put the whole pile of money on the desk next. I just sent a warm smile. :D :D

 

SMSinBangkok, since you earn a good wage, just save your headaches and get it cash man.... even if you have to wait 3 months.

 

you will have freedom to sell it anytime if you want, and dont have to feed those greedy banks with interest.

[Shurup]

Denied finance at Ducati Thonglor as a farang

 

Last week, after almost two weeks studying all my documents (payslips, bank statements, visa, work permit, passport), Ducatis financing bank, Krungsri, denied me finance since I do not have a Thai guarantor. 

 

The bike I wanted to finance is the new Ducati Monster 1200S, priced at 1.099.000 Baht. Before they turned me down they said as a foreigner they wanted 40% downpayment and not 30% as for Thais. 

 

The day before they turned me down I was getting worried so I called them and said I could make a 50% downpayment. Even that did not help.

 

I have been living and working in Thailand 5 years and I earn 250.000 baht a month.

 

Whats this with the Thai guarantor bit? I don´t understand.

As a falang, you're only in country legally for a year, until your WP runs out. After that you may or may not get it renewed. They're just covering their ass, if you leave the country and won't come back, they'll go after your Thai guarantor as he/she has nowhere to go. How long you've been here or how much you make is of little importance. High downpayment with ONE year financing would have most likely satisfied them.

 

Better save up and pay cash - no headaches! 

[yankee99]

Interesting as everyone seems to get treated different. Krungsri 30% down. No job. Wife thai guarantor no job. Only showed bank statements for last 6 months. Only spoke with the finance company about 3-4 times.

[Pralaad]

I have a bike on finance, this is how it works

 

Depending on your location, dealer would have an agreement with a bank,

 

If you in Pattaya,Krungsi auto is the ONLY option for bike finance. No other banks offers finance for bikes in Pattaya.

 

I have WP and income and money in the bank.

 

They still wanted a Thai guarantor. The fact that i have a car on finance with another bank made no difference, ie your credit history makes no difference at all

 

Anyhow, my maid was a guarantor. After assessing her salary(12 000 baht per month) they wanted i pay higher deposit.

 

I wanted to put down 20%-25%, they asked for 33%

 

Before any smartass makes a comment, No it is not Honda click or PCX, its a Forza 165 000 baht.

 

Krungsi does offer finance for used bikes but the rate from memory was pretty crazy around 20%

 

Another rather weird matter, i wanted SYM 300i, but was advised bank finances 80% for ONLY Thai brands.

 

So if i wanted a SYM, they would only lend 50%, however for SYM 400 they would lend 80%

 

Again mu experience is ONLY in Pattaya, may well be different in other city's

 

 

 

 

[ll2]

Interesting as everyone seems to get treated different. Krungsri 30% down. No job. Wife thai guarantor no job. Only showed bank statements for last 6 months. Only spoke with the finance company about 3-4 times.

 

when does it happened?

previous years, i had no problems on finance either with my salary statements and company documents.

Now, even if you show them book of a condo, of shareholder docs from company, they still do not accept. This is in Bangkok.

[yankee99]

Interesting as everyone seems to get treated different. Krungsri 30% down. No job. Wife thai guarantor no job. Only showed bank statements for last 6 months. Only spoke with the finance company about 3-4 times.

 
I picked up the bike Dec 2012 signed finance papers Jan 2013. So out will be 2 years this January.
when does it happened?
previous years, i had no problems on finance either with my salary statements and company documents.
Now, even if you show them book of a condo, of shareholder docs from company, they still do not accept. This is in Bangkok.

[ll2]

 

 

Interesting as everyone seems to get treated different. Krungsri 30% down. No job. Wife thai guarantor no job. Only showed bank statements for last 6 months. Only spoke with the finance company about 3-4 times.

 
I picked up the bike Dec 2012 signed finance papers Jan 2013. So out will be 2 years this January.
when does it happened?
previous years, i had no problems on finance either with my salary statements and company documents.
Now, even if you show them book of a condo, of shareholder docs from company, they still do not accept. This is in Bangkok.

 

 

yeah, it was easier to get finance previous years but this year, things changed. Lots of dead loans nowadays banks say and even Thai people cannot get finance easily anymore.