Hello,

 

I have a question maybe some experienced people can help us...

 

My GF and me would like to buy a car from toyota (cost 950.000 thb)

 

The main problem is all bank's are rejecting her because she can not provide pay slip's

 

She work for 5 years online for different freelancer websites and have a STABLE income from MIN 25-30k THB each month.

 

Myself i can not guarantee for her since I do NOT work in thailand but get a each month disabled income money from oversea.

 

we did offer to each bank to pay 50% down payment for some 950k car, so basicly we need to lend "only" half of the money..

 

Is there any different way  to get the car (example is there maybe car dealers who would agree that the car will be in dealer's name till paid off) ?

 

We can not find anyone to lend so much money, as for the guarantor she can only ask her mom or father but both do not work as well....

 

If anyone can help me by any way, i will pay very well for this, please pm me if possible and include contact info!

There's more of a reason here somewhere, half money as deposit and the rest with a finance company used by the Toyota dealer shouldn't be a problem.

If you get proof of your income to show them and your girlfriend shows them her tax payment slips for 5 years that should be enough.

Try another Toyota dealer is another way the car belongs to the finance company until it's fully paid anyway. 

Well the problem here is please belive me we did try ALL the thai banks, they are all asking to get payment slip's but as I said the issue is that she work on websites like www.freelancer.com and other ones....

 

She does have a stable income for over 5 years as I said like 25-30k but they all rejecting here because it's freelancer so not always the same company

 

I know it's a risk to lend 450k to someone who can not provide any pay slips but only income proof like bank statment's

 

We are happy to put this 50% down payment and even agree that the car will be on the financial company name till is paid off.

 

Maybe anyone know a shop/dealer in bangkok who are doing DIRECT deals, I mean NO bank?!

8 minutes ago, Kwasaki said:

There's more of a reason here somewhere, half money as deposit and the rest with a finance company used by the Toyota dealer shouldn't be a problem.

If you get proof of your income to show them and your girlfriend shows them her tax payment slips for 5 years that should be enough.

Try another Toyota dealer is another way the car belongs to the finance company until it's fully paid anyway. 

Tax Payment Slips ?. Work Online, oh dear...,erm,... er, , the P.C. was stolen about 5 Years ago.. Mr Taxman.

1 minute ago, Ace of Pop said:

Tax Payment Slips ?. Work Online, oh dear...,erm,... er, , the P.C. was stolen about 5 Years ago.. Mr Taxman.

 

Yeah OK know what your on about    but seriously my Mrs has to pay tax every year.

2 minutes ago, Ejjeje said:

Well the problem here is please belive me we did try ALL the thai banks, they are all asking to get payment slip's but as I said the issue is that she work on websites like www.freelancer.com and other ones....

 

She does have a stable income for over 5 years as I said like 25-30k but they all rejecting here because it's freelancer so not always the same company

 

I know it's a risk to lend 450k to someone who can not provide any pay slips but only income proof like bank statment's

 

We are happy to put this 50% down payment and even agree that the car will be on the financial company name till is paid off.

 

Maybe anyone know a shop/dealer in bangkok who are doing DIRECT deals, I mean NO bank?!

 

Unlikely you will get a loan without a guarantor, simply a bad risk from the finance companies perspective with no prior successful credit history.

 

The car and Blue Book would belong to the Finance company whatever, its not that you are "willing" to let them have it. 

 

Your GF probably is not in the tax system so there is no real proof of income. Sorry to be realistic but I have successfully financed several vehicles here to build up my wife' credit rating and the Thai Banks, Finance houses are very picky, they don't want more repos' they have more than enough.

 

Try buying second hand or a cheaper model with your 450k, at least you will be mobile. Good luck.

Is there really no shop who are simply doing direct sales on credit?

 

I know there is a few of them but only second hand in that case!

If there is no payslips, the bank will gladly take your income tax statement.. That is one of the document banks will take when you take out a housing loan as well as they would want to take your work bonus into account which is reflected in the income tax slip.. 

 

For a brand new car, you are almost out of luck. A second hand car would be possible since the loan conditions is not as strict as a first hand car, possibly due to the value involved. 

I just wonder why they still rejecting us even if we offered 500k deposit

3 minutes ago, Ejjeje said:

I just wonder why they still rejecting us even if we offered 500k deposit

 

didnt they say because of the lack of pay slips/income proof ?

we provided them copy of 7 years bank book where each month there is 25-30k income, and still they ask for payment slip.

 

Well We talked to tisco bank now, and we clearly said there is no payment slip.

 

They said if we put down 500k the chance to be accepted is very high since he have never done any debt or credit etc..

 

 

 

The Morons on the phone or even in branches are fairly useless they are just hungry for sales they will push anyone through. 

 

In your case whilst your rather generous down payment is attractive missing payment slips will breach any procedure i know of with the banks and finance houses that i work with. You will likely be asked for a guarantor again.  

 

I wouldn't consider the private finance option unless you can find somewhere with a proper license (which is hard to get) could open yourself up to a whole world of nastiness.

Well i have good news, we talked to the branch manager so not just a how to say sorry i do not know the word not a usless staff member...

 

The manager said, if we put down 500k and we can proof him that we get the same ammount in the bank for since 24 months he will accept the credit...

 

And we said it clear that there will be NO guarantor to sign... i repated this 5 times to make sure he understand it and all in thai , so i not think there will be a missunderstanding.

 

He said he only need bank statments, id card, and this thaibienabn or housebold...

 

We said it very clear that there is NO payment slip since it's freelancer work and there is no fixed company who pay her...

 

Let's see how is't the outcomming...

Edited October 3, 20169 yr by Ejjeje

What's the rate.?


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They offer us 2.8%

Edited October 4, 20169 yr by Ejjeje

what car are you buying and did you apply for credit through the dealership ?

 

good to hear you are  having some luck with Tisaco.

TISCO was Ford Leasing people at one time.


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11 minutes ago, Ace of Pop said:

TISCO was Ford Leasing people at one time.


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They still are... I got a 1.99% interest for my Ford.. 

24 minutes ago, Ace of Pop said:

TISCO was Ford Leasing people at one time.


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And mazda as far as I know.

The loan got approved in under 1  tisco was very nice to deal.

 

No salary slip asked (we just told them the true and honest situation...) we where aske dto pay down 500k

The did not care if she work or not...

 

I did NOT need to sign for her.

 

All they asked is my bank statments to show i get xx.xx and her bank statment....

Edited October 4, 20169 yr by Ejjeje

Just a quick update, we got the new car today, i can really recommend tisco bank the manager speak fluent english and was very helpfull he accepted a credit that is basicly high risk, my wife not needed any salary slip since she not work... down payment was 500k and the loan got accepted in a day, he only did a backgriund chefk if she got sny defaulted loans in the past..

27 minutes ago, Ejjeje said:

Just a quick update, we got the new car today, i can really recommend tisco bank the manager speak fluent english and was very helpfull he accepted a credit that is basicly high risk, my wife not needed any salary slip since she not work... down payment was 500k and the loan got accepted in a day, he only did a backgriund chefk if she got sny defaulted loans in the past..

Unless it is an expensive car, with a downpayment of 500k it is very low risk.

The car cost 999.999 thb

 

I consider this as risk...

Edited October 7, 20169 yr by Ejjeje

I would like to give a small update, for other expats who have a hard time to get finance.

 

I did try ALL banks in thailand and they where just asking too much documents and I (lost over 50k) in deposits for different dealers, I got the money back but still lost over 3 months for this.

 

I did call to many banks and asked to speak to someone who can speak english, and no one of them was able to speak a decent english, anyway they all rejected because my wife does not have a work (and I refused to act as guarantor)

 

Last hope was tisco bank, 500k downpayment, car cost 999,999 thb.

 

It was the easiest finance i ever got they only asked for bank statments last 6 months and id card cfrom her.

The credit was apporved in just 48 hours, this bank is amazing and the finance guy from tisco was always very helpfull via line, he replied to all my questions even after his work when i asked something he did reply!

 

So if you need a finance i recommend you tisco and I can give you the direct number of the manager who apporved my loan, he can speak english 100% fluent and is very nice and helpfully

Tisco will Finance My Cat from what i read here, mainly Ford Cats though.

We've always been well treated by Tisco and have bought 2 cars through them with not one late payment. They would let us borrow anything now - even 6mill for a sub 2mill Beemer if we were that daft.

There is only 1 point that i not like at all, is that they said if the repayment is 11k a month that i can NOT pay more , I asked if I could pay 20k but they said it will not be possible...

 

To be honest I planed to pay 30k a month but they said it will be rejected if I will try to make a short loan period because of the missing income proof they said it's better if we ask for 4 yrs loan.

 

Whatever We are happy they accepted.

There is only 1 point that i not like at all, is that they said if the repayment is 11k a month that i can NOT pay more , I asked if I could pay 20k but they said it will not be possible...
 
To be honest I planed to pay 30k a month but they said it will be rejected if I will try to make a short loan period because of the missing income proof they said it's better if we ask for 4 yrs loan.
 
Whatever We are happy they accepted.

I'm pretty sure Tisco said we can pay ours off whenever we want but I think it'll still cost the same.

Very happy Tisco customer here. 20% down (with work permit of several years).

 

Tisco and Aeon, the only financial service providers in Thailand who don't think all foreigners are a bunch of thieves. (Aeon credit card, gold card, no guarantee, 3 years customer, love the cashback).

 

For a loan for the wife (mortgage), we went Government Savings Bank. They didn't want to ask too many questions, they wanted us to take a loan out.

On 10/1/2016 at 1:57 AM, Ejjeje said:

Well the problem here is please belive me we did try ALL the thai banks, they are all asking to get payment slip's but as I said the issue is that she work on websites like www.freelancer.com and other ones....

 

She does have a stable income for over 5 years as I said like 25-30k but they all rejecting here because it's freelancer so not always the same company

 

I know it's a risk to lend 450k to someone who can not provide any pay slips but only income proof like bank statment's

 

We are happy to put this 50% down payment and even agree that the car will be on the financial company name till is paid off.

 

Maybe anyone know a shop/dealer in bangkok who are doing DIRECT deals, I mean NO bank?!

  Can't she file or doesn't she file Thai income tax forms at the end of each year and doesn't that show her average yearly or monthly income over the years?  I myself and a contractor/freelancer if you will here in America and I often have more than one employer during a year.  My Federal Tax returns properly and completely document my income for every purposed I have needed.  Having said that, I know much of the world and America also is fixated on monthly pay slips, and just don't handle non steady income well