My wife car was bought brand new for TH 630.000 exactly 3 years ago with 6 years financing.

Her monthly payment now is TH 8.000 and the balance is TH 305.000

The market value of the car now is about TH 400.000

She has excellent credit and job, and it is a homeowner.

She is looking in extend the term or refinance her debt up to 5 years to lower her payment.

We consulted with banks and car finance companies and they said that the only company can do that is the original lender.

The original lender is giving to my wife confusing information about how that can be done.

The original lender company name is ICBC phone 053-244933 , 053-244963 - 5 and 053-244911

I do not speak Thai and my wife is not speaking enough English to pass the exactly info to myself.

If somebody knows about this kind of transaction, or can give me a referral of a company or bank that can give me information, or can help me getting the right info, will be much appreciated. I live in Chiang Rai / Phayao area.

Thank you

Would that not reduce the payments by only 1000-1500thb or so a month if that.

With a new agreement etc etc

Would that not reduce the payments by only 1000-1500thb or so a month if that.

With a new agreement etc etc

More likely Bt 6100 a month.

305000 + 20% (4% x 5)= 366000.

366000 / 60 months = 6100.

^^ so a reduction of 1,900 without what ever additional refinace charges , so yes I still guess a reduction of max 1,500thb

8,000 is a pretty low payment as it is for a new car.

Try City Leasing in Bangkok. They MAY (no guarantee) pay out the current lender and MAY offer more suitable terms. Though it all depends on what is in the original lease agreement. The other option is to sell/trade-in the car and buy something that fits within the budget?

Either way you slice it, you are going to get shafted one way or the other. Best to try and find a deal where you get shafted less.