The Stupid Credit Laws for Foreigners Here

[Savilesghost]

12 minutes ago, brucegoniners said:

So basically I can be a guy who makes just enough to make the payments here, but I get the loan because I have a work permit, right?

 

Let's say tomorrow I lose my job.

 

How secure is that loan?

Sorry you obviously no clue as to how a loan company assess' risk for a loan to be issued

 

1. You have no Thai based income - and a  flight risk

2. Your not a Thai citizen

3. Your not a legal resident

4. You have no credit history in Thailand

 

A work permit at least establishes some legal connection to Thailand and a Thai entity

 

Dont know why your making a such a big issue over this, get a Thai national to sign on behalf of your wife and you put down a 30% deposit its that simple  

 

 

Edited January 12, 2017 by Savilesghost

[brucegoniners]

1 hour ago, bermannor said:

A few too many "stupids' in OT's post.

Cash is King!

You have obviously nothing in Thailand, so you get nothing in Thailand.

The word Thailand, you can simply exchange to any other country name.

Actually I have quite a bit in Thailand dude. You assume too much.  See above about the word ass u me...

[Savilesghost]

Just now, brucegoniners said:

The rules are inconsistent.  And nobody suggested I secure the car with a certain amount of money by the way.

The rules are not inconsistant, simply because each lender being private companies have different rules for them to lend you their money...no different from anywhere else in the world 

[brucegoniners]

1 hour ago, Savilesghost said:

The OP is whinging for whingings sake, all he needs is a Thai national to stand for the loan for his wife and they will get a loan easy

All this OP  smacks of is trollish Thai bashing 

You do a good job of responding to your own posts.

[Savilesghost]

Just now, brucegoniners said:

You do a good job of responding to your own posts.

Why the insults....continued trolling perhaps..?

 

You have had your whinge, you have been shown your argument is flawed and now you have taken to insulting people 

[Fookhaht]

I didn't have a problem .....I don't have a work permit and am retired ...The car is in my name and the loan is in my name.

 

I got a loan from Kiatnakin Bank ....Just told the Auto dealer if you want to sell me a car/truck... get me a loan. And they did!

Same here, same technique, same bank. 250,000B loan on a 350,000B used vehicle.

Just keep trying. Even different branches of one bank run by different rules.

Went to 4 different branches of one Thai bank to get a credit card. Was told, "Foreigners can't get credit cards without a deposit account that can't be touched." The fifth branch (same bank) said "Sure, no problem!" and issued me a totally unsecured credit card account. Go figure.

Persistence will get you that loan

Sent from my iPhone using Thaivisa Connect

[Fookhaht]

Error

[beachproperty]

45 minutes ago, chilli42 said:

 

Without a gaurantor? 

 

Yes

[csabo]

17 hours ago, beachproperty said:

I didn't have a problem .....I don't have a work permit and am retired ...The car is in my name and the loan is in my name.

 

I got a loan from Kiatnakin Bank ....Just told the Auto dealer if you want to sell me a car/truck... get me a loan. And they did!

 

Exactly. We bought a new car last week and the dealer was dying to get me to buy it outright in my name or co-sign. I refused. My gf has a successful business, good credit and no debt. I told the dealer "find a bank that will finance her or I will find a dealer who can". Next day "Approved!" What a shock.

[brianj1964]

22 minutes ago, brucegoniners said:

I'd rather keep my money in the bank to be honest.  More security that way.

why pay interest on something high value unless you are earning more by keeping it in a bank, and interest rates these days rock bottom makes it highly unlikely, 

[theguyfromanotherforum]

why pay interest on something high value unless you are earning more by keeping it in a bank, and interest rates these days rock bottom makes it highly unlikely, 

Because he said it himself. Translation... if something bad happens in Thailand and he decides to bail = less risk for him.

As mentioned before, he could get a loan in his own country or wherever his business is located, but that's liability to him.

So, the banks are very correct in their decision no to lend a single baht.

[Savilesghost]

Just now, theguyfromanotherforum said:

 

Because he said it himself. Translation... if something bad happens in Thailand and he decides to bail = less risk for him.

So, the banks are very correct in their decision no to lend a single baht.
 

 

So isnt a co sign by a thai national a better option, if he wishes to bail then the loan falls onto the cosign ?

 

I suspect the OP is has been trolling this thread all along 

[bermannor]

Do you know what a banking collateral is?

A not too sharp knife in your Mother's kitchen drawer or a big dick doesn't qualify.

[connda]

It's skewed logic.  I have family members who make 10K THB a month but the banks allow them to qualify for a new car loan that costs them 6K THB per month!  Now find the logic?
The same bank will not offer a foreigner a new car loan because they are risk averse, but they carry billions on their books that are extended to unqualified buyers.  When the Thai credit bubble pops they will recite the mantra, "We didn't see it coming!" 

Edited January 12, 2017 by connda

[sinbin]

If I was not in Thailand and wanted to buy a new car I'd get a good discount for a cash payment. Here in Ting Tong Land they don't, and prefer you to buy on the never never. Cash is King! But not in Thailand. Credit is king.

[rott]

2 hours ago, Suradit69 said:

 

What nonsense. Simply because you can't understand something doesn't make it illogical.

 

 

If you expect to understand things you are in the wrong country.

[Savilesghost]

5 minutes ago, sinbin said:

If I was not in Thailand and wanted to buy a new car I'd get a good discount for a cash payment. Here in Ting Tong Land they don't, and prefer you to buy on the never never. Cash is King! But not in Thailand. Credit is king.

Really so based on your logic, the worldwide  financial melt down in 2007 / 2008 was caused by Thai's on the never never,  and not almighty farangs on mSsive amounts of the never never ? Your talking out your bum 

[Suradit69]

2 minutes ago, rott said:

If you expect to understand things you are in the wrong country.

 

I often felt that way when I was "at home" in the US, but feel no more at sea here in Thailand than I was there. Obviously some people are more easily challenged than others.

[Savilesghost]

5 minutes ago, rott said:

If you expect to understand things you are in the wrong country.

Not at all it appears we have numerous stupid farangs on here who dont even understand basic financial protocols as regards assessing somebody for a loan

 

Lets summarise a typical farang

 

1. Foreign income

2. No credit history or score in Thailand

3. No "legal" status in Thailand 

4. not in the tax system

5. Flight risk 

 

Based on this i wouldnt be loaning money to a person either 

Edited January 12, 2017 by Savilesghost

[sinbin]

Just now, Savilesghost said:

Really so based on your logic, the worldwide  financial melt down in 2007 / 2008 was caused by Thai's on the never never,  and not almighty farangs on mSsive amounts of the never never ? Your talking out your bum 

What's my post got to do with a worldwide financial melt down. I thought this to be a Thailand forum? 

[Chip Allen]

7 hours ago, Crossy said:

If the roles were reversed and you were a Thai in your home country with no provable income and no local job.

 

Would you be able to get a car loan?

 

 

If an extension of stay based on retirement does not prove income, I would like to know what does?? We jump through hoops to get these documents, which includes documentation of our income from our Embassy. Somehow that is not deemed to be good enough, even though the usual draconian penalties apply for perjury on a government document. The usual lack of logic mixed with thinly veiled racism.

[Suradit69]

2 minutes ago, Savilesghost said:

Really so based on your logic, the worldwide  financial melt down in 2007 / 2008 was caused by Thai's on the never never,  and not almighty farangs on mSsive amounts of the never never ? Your talking out your bum 

 

The last time I bought a car in the US the dealer was determined  to get me to do it on credit since they made a profit if they arranged financing. I guess they were in ting tong land wanted to profit from that.

[rott]

1 minute ago, Suradit69 said:

 

I often felt that way when I was "at home" in the US, but feel no more at sea here in Thailand than I was there. Obviously some people are more easily challenged than others.

Ha ha you were quick off the mark there.

 

I mean that This Is Thailand and we are neither required nor expected to understand why things happen here, it helps if we know what is happening that concerns us individually. But if we don't well that's fine too.

[Savilesghost]

Just now, Chip Allen said:

If an extension of stay based on retirement does not prove income, I would like to know what does?? We jump through hoops to get these documents, which includes documentation of our income from our Embassy. Somehow that is not deemed to be good enough, even though the usual draconian penalties apply for perjury on a government document. The usual lack of logic mixed with thinly veiled racism.

If it was racism, no farang would get a loan....your talking out your bum

 

I have financed 4 cars in Thailand, and have a credit card 

 

Instead of howling racism, msybe is because your not deemed creditworthy in Thailand and fail their requirements...no never...not an almighty farang, that cant be true...lets just says its racist....LOL pathetic 

 

[Suradit69]

1 minute ago, Chip Allen said:

If an extension of stay based on retirement does not prove income, I would like to know what does??

 

It could prove that you have managed to scrape together Baht 800,000 in a Thai bank or got an extension using an "agent" who did it with no financial proof needed or you told your embassy some fairy tale when getting the affirmation of income.

[Chip Allen]

Just now, Savilesghost said:

If it was racism, no farang would get a loan....your talking out your bum

 

I have financed 4 cars in Thailand, and have a credit card 

 

Instead of howling racism, msybe is because your not deemed creditworthy in Thailand and fail their requirements...no never...not an almighty farang, that cant be true...lets just says its racist....LOL pathetic 

 

It's racist. Case closed, end of discussion. My "credit worthiness" is a matter of public record. I have valid credit cards from America to prove it.

[Savilesghost]

Just now, Chip Allen said:

It's racist. Case closed, end of discussion. My "credit worthiness" is a matter of public record. I have valid credit cards from America to prove it.

No its not...not case closed your talking out your bum...as stated i have had multiple loans form Thai banks and i am a farang...so your racism premise is BS

 

Credit cards and US credit history means jack in Thailand, Thailand is not part of the US, you dont have a Thai credit history or score...case closed 

 

Stop howling racism and discrimination when there is none

 

 

[bermannor]

when run out of arguments, the racism card will be drawn.

A credit card ore more, specially in US, means nothing.

Get a new credit card when the overdraft on the old one is reached.

[Savilesghost]

6 minutes ago, Suradit69 said:

 

It could prove that you have managed to scrape together Baht 800,000 in a Thai bank or got an extension using an "agent" who did it with no financial proof needed or you told your embassy some fairy tale when getting the affirmation of income.

Well said...some of these posts stink to high heaven of entitlement and how dare the Thais turn me down for a loan as i have a crappy 800k in the bank 

[bermannor]

It's early afternoon now in Thailand, seems a few Singhas or Mekong have taken its toll on some posters ?