battersea Posted November 4, 2014 Share Posted November 4, 2014 Can a farang on a 1 year O visa with 130,000 bht per mth coming in from a UK company get a car loan ? Link to comment Share on other sites More sharing options...
mrtoad Posted November 4, 2014 Share Posted November 4, 2014 You will need a guarantor Link to comment Share on other sites More sharing options...
Anders W Ferslev Posted November 5, 2014 Share Posted November 5, 2014 i think you need a work permit before the bank will give you a loan, but not 100% sure.I have car loan with k-bank. at least 30% down with kasikorn leasing Link to comment Share on other sites More sharing options...
overherebc Posted November 5, 2014 Share Posted November 5, 2014 i think you need a work permit before the bank will give you a loan, but not 100% sure. I have car loan with k-bank. at least 30% down with kasikorn leasing I've had two car loans and was asked for work permit both times from same loan company. Was told it was a 'requirement' each time. Link to comment Share on other sites More sharing options...
technologybytes Posted November 5, 2014 Share Posted November 5, 2014 Short answer is no, not from any reputable lender anyway. If I were you I'd consider a good used car and just save some money for a new car. It's not a good idea to get into unnecessary debt. Link to comment Share on other sites More sharing options...
adjethai65 Posted November 5, 2014 Share Posted November 5, 2014 hello and goodmorning !my experiance is your income need monthly be tranferd to thai bank account. if its the first loan i suggest you certify your year income at embassy .there is no term but i knowe the like to see statement bankbook last 6 months . showe the income is coming in !and you need to showe legal contract ore house book were you residence is .i understand you want loan from you own bank but there out at a dealer the have many promotions to offer to you.wat evver you choose the installent fore the loan is 25%. no need work permit this is onley if you pay less example 15 ore 20%you need a thai who is garanter fore your loan ,pay the deposit and register on your own name first register need residence certificate 2 x from immigration.its good buy new because the finance on second are higher intrest than on new cars .goodluck and nice day i have good experiance with tanachart bank big player in car loans .head branch pattaya is at north pattaya road second floor can talk first so knowe were you standing .Martin Link to comment Share on other sites More sharing options...
theoldgit Posted November 5, 2014 Share Posted November 5, 2014 I got a loan for a new car from a reputable lender, Tisco Bank, a few years back, I was on an O Visa so no work permit was asked for, my only income was my work pension, no guarantor required, no need to certify income at my embassy. 1 Link to comment Share on other sites More sharing options...
chris2004 Posted November 5, 2014 Share Posted November 5, 2014 What i did in a similar situation was get a loan from a UK bank, transfer the money over and buy the car in cash. Link to comment Share on other sites More sharing options...
stevenl Posted November 5, 2014 Share Posted November 5, 2014 Short answer is no, not from any reputable lender anyway. If I were you I'd consider a good used car and just save some money for a new car. It's not a good idea to get into unnecessary debt. Short answer is that this post is not correct. It will depend on the bank, just visit a few. Some will accept you with a guarantor, some will not accept. I can't think if any company that will accept just like that. Link to comment Share on other sites More sharing options...
Soutpeel Posted November 5, 2014 Share Posted November 5, 2014 typically a Thai guarantor is required for your first car through a finance company irrespective of whether you have a WP or not my first car, a guarantor required even though have a WP, with 30% down next two cars with same finance company, no guarantor, as now have a credit history based on the first car, 30% down on 1, 25% on the next one. Link to comment Share on other sites More sharing options...
Anders W Ferslev Posted November 5, 2014 Share Posted November 5, 2014 i did not need a thai guarantor.. just 30% down... even the kasikorn lady come out to the hotel where im working, so we could make the paper there Link to comment Share on other sites More sharing options...
keithcresswell Posted November 5, 2014 Share Posted November 5, 2014 I got a car loan through Tisco Bank six years ago. No work permit but my wife had to be the guarantor. She didn't have a job so the car dealer and bank concocted a letter from her "employer". Conversely when my wife tried to get a mortgage I had to be her guarantor. By the way I did shop around for the best interest rate and found that the advertised rate was almost exactly half the actual rate. Don't know if this scam still goes on but double check the rates. I seem to remember that Bangkok Bank had a good loan calculator on their website. Link to comment Share on other sites More sharing options...
battersea Posted February 9, 2015 Author Share Posted February 9, 2015 Just to let everyone know....most of the advice here was great. All the Banks said no because I did not have a work permit. The car dealers all said different things. Honda weren't very helpful but Toyota let my wife apply for a loan (using her Uncle as a guarantor) , on the strength of my monthly overseas income. The paperwork took two weeks, the deposit was 15% and now we have a new car....happy days. Shop around...everyone tells you something different. Link to comment Share on other sites More sharing options...
kbelyeu Posted February 10, 2015 Share Posted February 10, 2015 I used the Toyota dealer that has just opened in NaJomtien financing using my foreign earned income on a 30 day visa exempt. Paid 50 % down first car loan with no Thai guarantee (co-signer) only using my bank books showing history in Thailand and foreign bank statements. This will vary person to person depending upon your income (I am well qualified). Kurt Link to comment Share on other sites More sharing options...
LivinLOS Posted February 10, 2015 Share Posted February 10, 2015 I used the Toyota dealer that has just opened in NaJomtien financing using my foreign earned income on a 30 day visa exempt. Paid 50 % down first car loan with no Thai guarantee (co-signer) only using my bank books showing history in Thailand and foreign bank statements. This will vary person to person depending upon your income (I am well qualified). Kurt I think the difficulty of verifying overseas income means it was the 50% down that got it, rather than your ability to qualify on income.. A buddy got his Mitsu truck many years back with 30% down and his name no guarantor.. As you say, very much dependent on how they feel.. Link to comment Share on other sites More sharing options...
yankee99 Posted February 10, 2015 Share Posted February 10, 2015 I used the Toyota dealer that has just opened in NaJomtien financing using my foreign earned income on a 30 day visa exempt. Paid 50 % down first car loan with no Thai guarantee (co-signer) only using my bank books showing history in Thailand and foreign bank statements. This will vary person to person depending upon your income (I am well qualified). Kurt Toyota laem chabang wouldn't let me put more then 250,000 down on 600,000 @2.55% for 48 months. I guess theres not enough money in it for the finance companies. Link to comment Share on other sites More sharing options...
kbelyeu Posted February 10, 2015 Share Posted February 10, 2015 I used the Toyota dealer that has just opened in NaJomtien financing using my foreign earned income on a 30 day visa exempt. Paid 50 % down first car loan with no Thai guarantee (co-signer) only using my bank books showing history in Thailand and foreign bank statements. This will vary person to person depending upon your income (I am well qualified). Kurt I think the difficulty of verifying overseas income means it was the 50% down that got it, rather than your ability to qualify on income.. A buddy got his Mitsu truck many years back with 30% down and his name no guarantor.. As you say, very much dependent on how they feel.. Was he on a tourist visa aka 30 day visa exempt? Kurt Link to comment Share on other sites More sharing options...
stevenl Posted February 10, 2015 Share Posted February 10, 2015 I used the Toyota dealer that has just opened in NaJomtien financing using my foreign earned income on a 30 day visa exempt. Paid 50 % down first car loan with no Thai guarantee (co-signer) only using my bank books showing history in Thailand and foreign bank statements. This will vary person to person depending upon your income (I am well qualified). Kurt Toyota laem chabang wouldn't let me put more then 250,000 down on 600,000 @2.55% for 48 months. I guess theres not enough money in it for the finance companies. You'd have to decrease the duration of the loan with that downpayment. Make it 36 months and they'd be happy again. 1 Link to comment Share on other sites More sharing options...
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