I’m wanting to buy a new Mazda 3 and thought that it would be fairly simple to get finance as I’ve been at the same job for 12 years. However, as my wife doesn’t work, there is a problem.

 

Has any foreigner here had finance for a car, especially Mazda, and what was required.

One assistant said 0% interest if 25% down over 2 years, the other said, "no can do as I'm a foreigner".

 

 

I have had quite a few cars here on finance, including Mazda, never any issues. First time a guarantor was required. I have a WP, general downpayment was about 50 percent, pay off in 3 years.

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Ask your Mazda dealer. If they are interested to sell you the car, they also will help you with the financing.

We bought several Mazda's with financing. The CX-5 on my name. They asked for a 50% down payment.

Our Mazda dealer works with Thanachart. The bank will check you income and your financial status. All loans should not exceed 30% of your income.

A 4 year period may be better for you.

I have learned, that a car with a lease contract is easier to sell.

Buying a car with credit gives you a better rating which can be an advantage for the future

BTW, the new Mazda 3 is a good choice.


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6 hours ago, juehoe said:

Ask your Mazda dealer. If they are interested to sell you the car, they also will help you with the financing.

We bought several Mazda's with financing. The CX-5 on my name. They asked for a 50% down payment.

Our Mazda dealer works with Thanachart. The bank will check you income and your financial status. All loans should not exceed 30% of your income.

A 4 year period may be better for you.

I have learned, that a car with a lease contract is easier to sell.

Buying a car with credit gives you a better rating which can be an advantage for the future

BTW, the new Mazda 3 is a good choice.


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Thanks. Actually found another dealer who says i can pay 30% down and pay the remainder over 2 years. 

 

I would rather pay it faster, possibly in one year, if they allow it.

 

What do you mean "a car with a lease contract is easier to sell"?

 

Thanks

As soon as I read the topic heading. Answer is...'get a guarantor for the loan.

 

What do you mean "a car with a lease contract is easier to sell"?

 

Thanks

Thai often buy cars on a payment plan. It is easier and cheaper to take over an existing finance than make a new on on a second hand car.

We replace our cars after 2 to 3 years when a new model is out. Our Mazda dealer looks for a customer and organises the financing for us and the buyer.

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A common way for dealers to arrange finance is it to be done by way of Hire Purchase (HP), not by a Personal Loan, This means the ownership of the vehicle is transferred to the buyer on full settlement of the loan.

I a retired pensioner living in LOS and have bought 3 second hand vehicles through a dealer and each time the HP was arranged with Kiatnakin Bank, whose office is in Pattaya Klang.

A common way for dealers to arrange finance is it to be done by way of Hire Purchase (HP), not by a Personal Loan, This means the ownership of the vehicle is transferred to the buyer on full settlement of the loan.
I

We have a personal loan. Most dealer have their favourite bank. We are using Thanachart and are very satisfied.

The first loan was a little bit difficult, but now it is quite easy.


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Was some year ago but for my Isuzu got financing from them. Needed to show work permit and letter from employer. If I recall it was 30% down and financed over 3 years..

I am trying to buy a truck at the moment, have 35-40% down payment and so far every dealership has asked for a guarantor.  I even have asked about putting 50% down but so far I am getting the same response, you need a guarantor.  From what I have read, every bank is different and there are no set rules.

Now for the funny part, our HR manager where I work said he would be my guarantor, really nice guy and I would never screw him over.  He signed the papers but before I could pick up the truck, he told his wife. She freaked out and was very angry. He told her there was nothing he could do now as he had already signed the papers.  She laughed and said I already called the finance company and stopped the loan.  He told me he will try to convince her otherwise but my confidence level that it will happen is very low.  Back to square one.