Buying A New Car On Mthly Installements

[Scenium11]

While buying a new car from dealer with a financial monthly installement for 12 to 48 or even 60 months, who is the actual owner of the car?

What is written on the blue book (tabien rot)?

Is it the financial company till you have completed your payment ?

Or is it you (or your company if you buy the car as corporate car)?

Your highlights will be highly appretiated.

Cheers

[jumbo]

While buying a new car from dealer with a financial monthly installement for 12 to 48 or even 60 months, who is the actual owner of the car?

What is written on the blue book (tabien rot)?

Is it the financial company till you have completed your payment ?

Or is it you (or your company if you buy the car as corporate car)?

Your highlights will be highly appretiated.

Cheers

It is the the dealer/financier that holds the ownership untill the car is paid/loan is downpaid

If not you could 'refinance' it over and over.....

J

[pop3]

Yeah, careful tho because when the loan is paid off the finance guy sometimes wants a back hander when its time to put the car in your name, it's because theres a slight problem somewhere, they do it to the Thai's as well.

[TerryLH]

It used to be that only the finance companys name was on the cars papers. They would normally keep the book until payed off. About 7-8 years ago the law changed and they are now supposed to put the persons name on the book.

I believe the finance companies name is there as well, which is what keeps you from selling it without their okay.

[Scenium11]

TerryLH,

This is very interesting point that you make and very important.

Anyone else can confirm that?

As this forum is sponsored by expatmotors professionals, that would be interesting if they could provide some answers and expertises as well. Am i asking too much?

Cheers

[moonoi]

TerryLH,

This is very interesting point that you make and very important.

Anyone else can confirm that?

As this forum is sponsored by expatmotors professionals, that would be interesting if they could provide some answers and expertises as well. Am i asking too much?

Cheers

I have my car financed and its in my name but with the finance companies address. They also hold the blue book and sent me a copy of it to keep with the car.

[terryp]

Same here, I’m with Honda finance; they only give a photocopy and hold the book.

I just traded-in a 2 year old Honda for a new one and all was very straight forward (no hidden fee's)

Be careful with interest rates as they really do vary

Honda showrooms go from 2.99% (Honda’s own) to 6.85% (GE) and possibly higher.

(This is apr not like the motorcycle shops who charge 2.85%+ monthly?????)