Questions about buying a Car in Thailand

[flyingsaucersarereal]

Hi there,

If I buy a new Suzuki Swift I am wondering if the car can be in both my name and my wife's name if we are financing?

Thanks

Edited June 4, 2015 by flyingsaucersarereal

[IMHO]

That depends on the finance company - will they give you finance in both names?

It seems unusual.,... normally there will be one owner, and one guarantor in these situations.. if you work in Thailand you can be the owner, if you don't they will very likely only allow your wife to be the owner.

Why does it need to be in both names anyway? if you're married, it's 50% yours regardless of which name it goes in. Indeed, if you're thinking the marriage won't last, maybe it's best the finance/liability is all in her name? if the marriage does last, it's still 50% yours anyway

Edited June 5, 2015 by IMHO

[theoldgit]

My car was financed and registered in my name.

I'm retired so don't work, there was no need for any sort of guarantee with the financing.

I'm pretty sure that a vehicle can only be registered to one person, in any case the bank/finance company will keep hold of the blue book until the financing is clear.

[IMHO]

My car was financed and registered in my name.

I'm retired so don't work, there was no need for any sort of guarantee with the financing.

I'm pretty sure that a vehicle can only be registered to one person, in any case the bank/finance company will keep hold of the blue book until the financing is clear.

How long ago did you get solo finance, foreigner, not working in TH?

Since the eco car scheme, the finance requirements for new cars have changed a lot..

[beachproperty]

My car was financed and registered in my name.

I'm retired so don't work, there was no need for any sort of guarantee with the financing.

I'm pretty sure that a vehicle can only be registered to one person, in any case the bank/finance company will keep hold of the blue book until the financing is clear.

How long ago did you get solo finance, foreigner, not working in TH?

Since the eco car scheme, the finance requirements for new cars have changed a lot..

Not sure about when theoldgit bought and financed....BUT I bought and financed about 1 year ago.....and I am retired (no job and not working)

[stevenl]

My car was financed and registered in my name.

I'm retired so don't work, there was no need for any sort of guarantee with the financing.

I'm pretty sure that a vehicle can only be registered to one person, in any case the bank/finance company will keep hold of the blue book until the financing is clear.

How long ago did you get solo finance, foreigner, not working in TH?

Since the eco car scheme, the finance requirements for new cars have changed a lot..

Not sure about when theoldgit bought and financed....BUT I bought and financed about 1 year ago.....and I am retired (no job and not working)

50% or more down?

[theoldgit]

50% or more down?

Can't remember the exact figure to be honest, certainly nowhere near 50%, may have been 30% and it was the figure I suggested when I was considering finance.

It was a while ago, maybe five years.

[i claudius]

ime rich so i paid cash ,its still in my wifes name though

[stevenl]

50% or more down?

Can't remember the exact figure to be honest, certainly nowhere near 50%, may have been 30% and it was the figure I suggested when I was considering finance.

It was a while ago, maybe five years.

Ok, so yours was some time ago, before the eco car scheme that according to IMHO changed the finance requirements.

My question though was not to you but to beachproperty, since he/she bough a car more recently.

Edited June 5, 2015 by stevenl

[IMHO]

50% or more down?

Can't remember the exact figure to be honest, certainly nowhere near 50%, may have been 30% and it was the figure I suggested when I was considering finance.

It was a while ago, maybe five years.

Ok, so yours was some time ago, before the eco car scheme that according to IMHO changed the finance requirements.

My question though was not to you but to beachproperty, since he/she bough a car more recently.

Right, the requirements for finance have all been elevated post eco-cars scheme, due to a big increase in defaults. What was possible a few years ago may not be possible now.

If you've had Thai finance before, and got a good credit rating out of it, it's possible you will be able to get finance again without too much stress or more requirements. If it's your first finance in Thailand though, it's going to take bigger deposits that it used to and even then they might still want a guarantor - that's the case for Thai's - I can't assume foreigners would get it any easier.

[fredob43]

ime rich so i paid cash ,its still in my wifes name though:D

Why ???

[beachproperty]

My car was financed and registered in my name.

I'm retired so don't work, there was no need for any sort of guarantee with the financing.

I'm pretty sure that a vehicle can only be registered to one person, in any case the bank/finance company will keep hold of the blue book until the financing is clear.

How long ago did you get solo finance, foreigner, not working in TH?

Since the eco car scheme, the finance requirements for new cars have changed a lot..

Not sure about when theoldgit bought and financed....BUT I bought and financed about 1 year ago.....and I am retired (no job and not working)

50% or more down?

Actually traded in an old truck (350,000 baht trade in value) and got a loan for 500,000 baht from Kiatnakin Bank. First time getting a loan in Thailand!

Edited June 5, 2015 by beachproperty

[IMHO]

Not sure about when theoldgit bought and financed....BUT I bought and financed about 1 year ago.....and I am retired (no job and not working)

50% or more down?

Actually traded in an old truck (350,000 baht trade in value) and got a loan for 500,000 baht from Kiatnakin Bank. First time getting a loan in Thailand!

OK, so effectively you paid a 41% deposit - maybe even 50% in the eyes of the finance co. (who knows what document trickery they might have really done).

[beachproperty]

Not sure about when theoldgit bought and financed....BUT I bought and financed about 1 year ago.....and I am retired (no job and not working)

50% or more down?

Actually traded in an old truck (350,000 baht trade in value) and got a loan for 500,000 baht from Kiatnakin Bank. First time getting a loan in Thailand!

OK, so effectively you paid a 41% deposit - maybe even 50% in the eyes of the finance co. (who knows what document trickery they might have really done).

Not sure what you're implying but 41 % is 41% and NOT 50%. ........ maybe, under the way you think, they can make a 10% deposit look like a 50% deposit

Edited June 5, 2015 by beachproperty

[IMHO]

Not sure what you're implying but 41 % is 41% and NOT 50%. ........ maybe, under the way you think, they can make a 10% deposit look like a 50% deposit

Easy to have two sets of paperwork with only 50K difference for a car. Bit harder to cover a 500K+ difference

[beachproperty]

Not sure what you're implying but 41 % is 41% and NOT 50%. ........ maybe, under the way you think, they can make a 10% deposit look like a 50% deposit

Easy to have two sets of paperwork with only 50K difference for a car. Bit harder to cover a 500K+ difference

Wouldn't know.....as I play by the book. Funny thing is, they keep asking me if I want to borrow more money

[bigyin]

Buying is easy. I am trying to sell mine having got finance a couple of years ago. To repay the loan I have to get a letter from the bank to take to Immigration to get the residence certificate to take back to the bank to repay the loan. Then to sell the car I have to go to the licensing office to get a letter to take to Immigration to get the residence certificate to take to the licensing office to sell the car.?????? I wish I had bought the car in my wife's name in the first place.

[MonkeyLoo]

I bought a new truck from Toyota over a year ago. I was told by Toyota that I needed a work permit to be considered for finance as an expat. The car can only be in one name, so to ensure it went in my name I paid cash and negotiated some discount.

I kind of wish I hadn't done that now but the second hand options in Thailand are really high prices and you never really know how they have been treated.

Whatever you do make sure its in your name.

[catman20]

ime rich so i paid cash ,its still in my wifes name though

smart man

[hgma]

Financed 75 % @ 2.year payment condition.

Pick up 700K

Thai Guarantee

My name only

2 years ago

[i claudius]

ime rich so i paid cash ,its still in my wifes name though:D

Why ???

Apart from the fact its much easier and she drives it a lot,I trust my wife with my life

[fredob43]

ime rich so i paid cash ,its still in my wifes name though:D

Why ???

Apart from the fact its much easier and she drives it a lot,I trust my wife with my life

Sorry it's immaterial who drives it. It's one of the few things you can get in your name so why not do it.

To put it in your name you just hand over your passport they copy and then put limo in your name. How hard I would like to ask is that.

Then if anything does go pair shaped at least you can drive away and not have to walk.

N/B I have a friend that has just sadly lost his long term Thai wife RIP, to a brain tumour the problems he has now I wont go into but I think you get the point. One less thing to worry about.

[stevenl]

ime rich so i paid cash ,its still in my wifes name though:D

Why ???

Apart from the fact its much easier and she drives it a lot,I trust my wife with my life

Sorry it's immaterial who drives it. It's one of the few things you can get in your name so why not do it.

To put it in your name you just hand over your passport they copy and then put limo in your name. How hard I would like to ask is that.

Then if anything does go pair shaped at least you can drive away and not have to walk.

N/B I have a friend that has just sadly lost his long term Thai wife RIP, to a brain tumour the problems he has now I wont go into but I think you get the point. One less thing to worry about.

Unless she claims it of course. After all you will only own it 50-50.

BTW, officially to put it in your name certificate of address or workpermit or yellow housebook is required.

[i claudius]

I have been married 23 years we have a son 21, her family is well off and I really get on with them why bother ? Also she he loads of her own money and land ,no need to rip me off lol

Edited June 6, 2015 by i claudius

[fredob43]

I have been married 23 years we have a son 21, her family is well off and I really get on with them why bother ? Also she he loads of her own money and land ,no need to rip me off lol

Where did I say that she would rip you off. In fact I said just as easy to put it in your name. + a bit about how my friend is having problems.

With regards to Stevenl post I am now on my second new car both bought for cash. One was out of my district the only problem I had was having to change the NO: plate took just over an hour, the only reason I did that was because I got a better deal.

On both occasions passport was the only thing they asked for.

N/B the first one I didn't even have a long term visa only a single tourist one.

It might be official requirements but I can only go on how I did it and twice.

No yellow house book, Work EEEEEEEK that word permit, or any other paper work required only the wife's blue house book for address. By the way we weren't married then.

Seems to me that if they want to make a sale they know how to get round things. TIT

[stevenl]

I have been married 23 years we have a son 21, her family is well off and I really get on with them why bother ? Also she he loads of her own money and land ,no need to rip me off lol

Where did I say that she would rip you off. In fact I said just as easy to put it in your name. + a bit about how my friend is having problems.

With regards to Stevenl post I am now on my second new car both bought for cash. One was out of my district the only problem I had was having to change the NO: plate took just over an hour, the only reason I did that was because I got a better deal.

On both occasions passport was the only thing they asked for.

N/B the first one I didn't even have a long term visa only a single tourist one.

It might be official requirements but I can only go on how I did it and twice.

No yellow house book, Work EEEEEEEK that word permit, or any other paper work required only the wife's blue house book for address. By the way we weren't married then.

Seems to me that if they want to make a sale they know how to get round things. TIT

Yes, that's why I said 'officially'.

[fredob43]

I have been married 23 years we have a son 21, her family is well off and I really get on with them why bother ? Also she he loads of her own money and land ,no need to rip me off lol

Where did I say that she would rip you off. In fact I said just as easy to put it in your name. + a bit about how my friend is having problems.

With regards to Stevenl post I am now on my second new car both bought for cash. One was out of my district the only problem I had was having to change the NO: plate took just over an hour, the only reason I did that was because I got a better deal.

On both occasions passport was the only thing they asked for.

N/B the first one I didn't even have a long term visa only a single tourist one.

It might be official requirements but I can only go on how I did it and twice.

No yellow house book, Work EEEEEEEK that word permit, or any other paper work required only the wife's blue house book for address. By the way we weren't married then.

Seems to me that if they want to make a sale they know how to get round things. TIT

Yes, that's why I said 'officially'.

Point of order does that word officially even exist here, as no bugger ever seems to go down that route. Up to you as they say.