Pros & Cons of registering a car under Foreigner's name vs. Thai Parther

[MadMac]

2 years ago I bought a one million baht car and after a while I decided to put it in my name, just to have ONE thing in my name.

Cost me, a very expensive (30.000) yellow book, for which I had to travel to BK twice (from Loei) with expensive paperwork.

And finally at the motordept, I was charged 8000 baht for the name change and a 22.000 for some prime insurance.

Since I am leaving I am only getting 500.000 for my car with only 25.000 km driven.

I am pissed.

Yellow housebook comes for free. Transfer of the car cost something around 500B incl. the number plates. If it comes from another province they will send the old number back and issue a new one. Standard procedure. No such thing as a name change fee and the first class insurance is up to you to decide. Not really needed for an old car/bike, get a 2nd class with high coverage.

[Krataiboy]

"In the event of an accident, would I be liable above and beyond my insurance coverage? "

I had the same concerns, so I put mine in the wife's name.

Not such a smart move as you may imagine, as under Thai law a husband is ultimately responsible for any debts incurred by his wife.

[Krataiboy]

My money my car my name. Wife's car my name too. But wife always says half is hers.

Under Thai law, husbands and wives are entitled to half each of all and any assets acquired after marriage, including cars, houses, etc, irrespective of who paid the money or whose name is on the purchase documents.

[Krataiboy]

My money my car my name. Wife's car my name too. But wife always says half is hers.

She's right. Under Thai law, all marital possessions belong equally to both parties, irrespective of who purchased them or whose name is on the purchase document.

[MyFrenU]

Pros of putting it in your wife's name...None...Next!

[balo]

Just in case you skipped reading all the replies .

PUT IT IN YOUR NAME !!

Edited May 24, 2016 by balo

[D3030]

The con being,

When your gf leaves you, she'll be driving away in her car.

That's a pro and a con..

If the vehicle is new..

And if your GF can get financed.. With no job..

If she does leave..

You don't have to pay..

Unless... She waits for it to be paid off..

[WinnieTheKhwai]

Just in case you skipped reading all the replies .

PUT IT IN YOUR NAME !!

Just in case you skipped some, let me repeat that 'tax' is a really good reason to check who owns what, also when you're married. My wife micro-manages taxable income, so that means it's sometimes good for one or the other to have the expense of a loan, mortgage, etc. Both to reduce taxable income but also to remain eligible for another loan or mortgage down the line.

Plus there is a slight advantage when selling a car when it's owned by a woman driver.

To the OP: it's good to keeping mind that a lot of people here married women that apparently aren't to be trusted with anything, based on their own statements and apparent mindset. Got them from some bar, typically.. If that's not you, then disregard those comments.

Edited May 24, 2016 by WinnieTheKhwai

[D3030]

My money my car my name. Wife's car my name too. But wife always says half is hers.

Isn't the wife right? If married and then divorced aren't all assets obtained during marriage split 50/50.

Of course excepting things owned by each party before the marriage.

So does it matter or is there a difference who's name the car is purchased under?

Does it reduce red tape to be in your name in case of divorce?

In the U.S. - I assume it works like that?

In Thailand...

I assume..

While married..

What's yours, is hers, what's hers, is hers..

Until she leaves you..

Then, what's under your name is yours..

I really don't know the answer..

[WinnieTheKhwai]

^ Clearly. Doesn't stop you from posting though right!

Edited May 24, 2016 by WinnieTheKhwai

[mesquite]

Just in case you skipped reading all the replies .

PUT IT IN YOUR NAME !!

Just in case you skipped some, let me repeat that 'tax' is a really good reason to check who owns what, also when you're married. My wife micro-manages taxable income, so that means it's sometimes good for one or the other to have the expense of a loan, mortgage, etc. Both to reduce taxable income but also to remain eligible for another loan or mortgage down the line.

Plus there is a slight advantage when selling a car when it's owned by a woman driver.

To the OP: it's good to keeping mind that a lot of people here married women that apparently aren't to be trusted with anything, based on their own statements and apparent mindset. Got them from some bar, typically.. If that's not you, then disregard those comments.

How so?

[al007]

Fair sensible question, but many whacko answers

first new car i bought on finance, just in case she ran off, put it in her name

Second and third new cars paid cash each time and in my name, I wanted joint names but seemed a problem so she said if I was worried put it in my name

problem if in her name her family would try and get it in the unlikely event she died first, she loves and trusts me ,they hate me!!

[Linesy]

Fair sensible question, but many whacko answers

first new car i bought on finance, just in case she ran off, put it in her name

Second and third new cars paid cash each time and in my name, I wanted joint names but seemed a problem so she said if I was worried put it in my name

problem if in her name her family would try and get it in the unlikely event she died first, she loves and trusts me ,they hate me!!

I may be repeating myself but the family could also apply enormous pressure on your partner to take out a loan against it without you knowing.

[mzep]

How did you get this far in life????

Very simply - by avoiding arrogant and narcissistic people like you!!! In the future, if you want to avoid getting sarcastic answers, don't ask idiotic and stupid questions!!! you'll be better off spending your in-valuable time in silence meditating!

[D3030]

^ Clearly. Doesn't stop you from posting though right!

If you're replying to my question(s), sure doesn't..

[boonchu]

I have always registered my car in my name and have class 1 insurance selecting the anyone can drive option. Last price was 17,000 bt for a million baht cover on the car (3 years old). Have claimed a couple of times without any issue.

[Mansell]

So Boonchu what is the name of your insurance company?

[jacko45k]

I do not understand the pros of registering it under your partner's name.

It is a straightforward process to put it in yours.

Liability would depend on how much you spend on insurance, but would be the same for a Thai as a foreigner.... I understand that a foreigner may look like a better target for litigation, but with sufficient coverage that should not worry you.

Use a broker, AA for example. You could insure for just 2 drivers, you and partner which would reduce premium as against any driver policies.

Edited May 25, 2016 by jacko45k

[roiethome]

As I understand it, the only con in putting it in the Farang's name is that if they should die, it can be a long and expensive job to transfer the name to someone else to sell on the vehicle.

I have had four cars and four motorbikes, all in the name of my wife, no problems .

[balo]

Just in case you skipped reading all the replies .

PUT IT IN YOUR NAME !!

Just in case you skipped some, let me repeat that 'tax' is a really good reason to check who owns what, also when you're married. My wife micro-manages taxable income, so that means it's sometimes good for one or the other to have the expense of a loan, mortgage, etc. Both to reduce taxable income but also to remain eligible for another loan or mortgage down the line.

Plus there is a slight advantage when selling a car when it's owned by a woman driver.

To the OP: it's good to keeping mind that a lot of people here married women that apparently aren't to be trusted with anything, based on their own statements and apparent mindset. Got them from some bar, typically.. If that's not you, then disregard those comments.

How so?

Yes why is it sometimes good to have a loan or mortgage ? I don't see why I should risk a 1 million baht car when I can own it. And it got nothing to do with trusting your wife or gf, in the west I would be the owner too so what you say don't make sense.

If you can afford to buy a car with cash , like I did, with my own money, why wouldnt you like to own it ?

Edited May 25, 2016 by balo

[MaeJoMTB]

To the OP: it's good to keeping mind that a lot of people here married women that apparently aren't to be trusted with anything, based on their own statements and apparent mindset. Got them from some bar, typically.. If that's not you, then disregard those comments.

I've found any woman, with whom you have had sex, can't be trusted.

Doesn't matter where you met her, her employment history, her education, her family, her nationality, or her moral character.

Once you have had sex with them, it seems to flip a mysterious, 'no longer to be trusted' switch.

Can't explain it! Not tried having sex with a man, so can't say if my theory applies to men.

Edited May 26, 2016 by MaeJoMTB

[MaeJoMTB]

Yes why is it sometimes good to have a loan or mortgage ? I don't see why I should risk a 1 million baht car when I can own it. And it got nothing to do with trusting your wife or gf, in the west I would be the owner too so what you say don't make sense.

If you can afford to buy a car with cash , like I did, with my own money, why wouldnt you like to own it ?

If all foreigners were suddenly thrown out of Thailand (or just you), or you were no longer eligible for a VISA (rule changes?) you wouldn't have to pay the loan or mortgage back.

If you don't trust your wife (50% of the world apparently shouldn't have), with a mortgage on her house, she needs you, if you paid cash, you need her. If I had a large mortgage on my house in the UK when I was divorced, I would now be in the region of 30 million baht better off.

And that's two really good reasons after 30s of thought.

I'm sure I could think of more, if I could be bothered.

Edited May 26, 2016 by MaeJoMTB