Financing on New or Second Hand Cars

[jacobsladder]

We're paying 11,000 a month to rent a five year old Vios. Just seem an ad for financing of a Vios at 10,000 a month. Unfortunately it was all in Thai. Anybody have info about buying and getting finance on cars, preferably second hand (ideally two or three years old), but also new? What would happen if we have to leave before the car was paid up?

 

..............and, out of interest, how much is a mid range Vios? We're in Banchang.

 

Thanks in advance.

Edited December 5, 2016 by jacobsladder
More info

[beachproperty]

Well rent on a 5 yr old Vios at 11,000 baht a month isn't too bad.

 

If you buy new you have to put a downpayment (probably 100,000 or 200,000 baht) and your payments will be in the 10,000 - 12,000 ( or more) range depending on how long the loan is for.

 

A new Vios on the low end is about $600,000 Baht.

http://www.toyota.co.th/en/model/vios

Used cars are not much cheaper and usually not worth the trouble.

Edited December 5, 2016 by beachproperty

[ThaiWai]

better to post in autos forum?

[puffy]

My Car is financed. Honda City cost 670,000 put down a 25 percent deposit and is 8400 a month for 5 years.

The car was financed by Krungsri bank and they came to my house, took some pictures of where I live and asked

to see proof of work and income, it was fairly simple and straightforward.

[beachproperty]

6 minutes ago, puffy said:

My Car is financed. Honda City cost 670,000 put down a 25 percent deposit and is 8400 a month for 5 years.

The car was financed by Krungsri bank and they came to my house, took some pictures of where I live and asked

to see proof of work and income, it was fairly simple and straightforward.

 

What a GREAT deal ......670,000 - the deposit of 170,000 leaves 500,000 to be financed.

 

8400 x 60 months....=   504,000

The financing is practically free (4000 Baht)

[ubeturazz]

yes - sounds like zero percent - for five years? 

i have 0% for four years - didn't know u could get for 5 years.

good deal.

[beachproperty]

1 minute ago, puffy said:

The deposit would be 167500 at 25 percent which if we are being a petty little pedant about the numbers, makes the total cost

671500 and I rounded it down to 670,000. If you are going to be pedantic at least get it right. The point was to let the OP know that finance is possible and probably a better deal than renting. I actually knew when I posted that the figure was out by 1500 baht and knew that there would be a response like yours, I just thought they would get the figures right themselves. Please don't comment on the cost of finance only being 1500 it is not I am only concerned about the actual cost to me.

 

Who's being petty?.....I thought you got a GREAT deal.....0% financing....what could be better than that.

[beachproperty]

2 minutes ago, puffy said:

You

 

Well....PUFFY (and the name suits you)....Sorry you think so . Still think if you can get ZERO per cent financing , that's great.

[captnhoy]

8 hours ago, beachproperty said:

Well rent on a 5 yr old Vios at 11,000 baht a month isn't too bad.

 

If you buy new you have to put a downpayment (probably 100,000 or 200,000 baht) and your payments will be in the 10,000 - 12,000 ( or more) range depending on how long the loan is for.

 

A new Vios on the low end is about $600,000 Baht.

http://www.toyota.co.th/en/model/vios

Used cars are not much cheaper and usually not worth the trouble.

My 4 year old VIOS has 18,500 KM on it and is 365,000 baht. A real bargain in this downmarket I think. I tried and failed to advertise it on TV but did manage to put it on craigslist. http://bangkok.craigslist.co.th/cto/5901740558.html

Edited December 5, 2016 by captnhoy

[LennyW]

Toyota in Ban Chang are very helpful, you will get a good deal on a new one there.

 

These second hand "tents" you see at the roadside on Sukhumvit will rip you off wildly!!

[JKfarang]

Side question: for people living here on an O-A "retirement visa, is it even possible to get bank financing for a car purchase (or is it possible only for those here on work permits)?  I thought I'd read somewhere a few years ago that banks won't finance for retirees since they could easily pack up and leave the country (and the car) at any time.  Just asking...

[beachproperty]

32 minutes ago, JKfarang said:

Side question: for people living here on an O-A "retirement visa, is it even possible to get bank financing for a car purchase (or is it possible only for those here on work permits)?  I thought I'd read somewhere a few years ago that banks won't finance for retirees since they could easily pack up and leave the country (and the car) at any time.  Just asking...

 

I'm on a "retirement" extension and got a loan from Kiatnakin....so apparently no problem

[Henryford]

8 hours ago, beachproperty said:

 

I'm on a "retirement" extension and got a loan from Kiatnakin....so apparently no problem

 

Can i ask if this was through a dealer or do you bank with them. What were the terms % down,interest rate etc. Thanks

 

 

[beachproperty]

5 minutes ago, Henryford said:

 

Can i ask if this was through a dealer or do you bank with them. What were the terms % down,interest rate etc. Thanks

 

 

 

I don't believe Kiatnakin is a traditional bank.....but a lender. The loan was through a new car dealer. The rate was at 6% (which is higher than normal...but falang rate). 20% down...payments are 10,450/month

[Henryford]

14 hours ago, beachproperty said:

 

I don't believe Kiatnakin is a traditional bank.....but a lender. The loan was through a new car dealer. The rate was at 6% (which is higher than normal...but falang rate). 20% down...payments are 10,450/month

 

Thanks for that. If the 6% is a flat rate ie 12% APR it is indeed very high.

[beachproperty]

5 hours ago, Henryford said:

 

Thanks for that. If the 6% is a flat rate ie 12% APR it is indeed very high.

 

No, it is 6% APR