Hi TVers,

Im looking to buy a Camry/accord or smaller car, but dont want to pay in cash. Does anyone have experience in buying with motor finance if:

1. They have a work visa/permit

2. Dont have Thai wife/guarantor, but do own a condo.

In Bangkok here.

Depends on value, your condo can be given as a guarantee. Talk to the finance.Talk to the finance.

Beware and watch out! Besides the interest you have to pay, car dealers will add the costs for a credit default swap. Better to get that money from a bank. Should work with a Condo. Compare interest rates! Calculate yourself; sometimes those rates are given as a percentage of the loan, but as that loan normally is an annuity loan, the effective interest rate is about double as high.

Pardon my ignorance...what is a credit default swap? In the context of a simple car loan?

Pardon my ignorance...what is a credit default swap? In the context of a simple car loan?

I think he means the finance company tries to increase the purchase price of the car to recoup their missing / lost payments from the original purchaser.

So if you buy from a used car lot / tent dealer, these costs are built into the selling price.

Pardon my ignorance...what is a credit default swap? In the context of a simple car loan?

I think he means the finance company tries to increase the purchase price of the car to recoup their missing / lost payments from the original purchaser.

So if you buy from a used car lot / tent dealer, these costs are built into the selling price.

I am lost here (not the first time lol) but I negotiated the price of my truck directly with the tent and only after that did we get finance involved. Price didn't change.

Also bare in mind there will be NO benefit or incentive whatsoever to clear or pay it off early, as they lump all the charges/interest in at day one upfront.