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Bennyl

Car Finance

17 posts in this topic

I plan to buy a new Toyota Vigo for around 610,000 baht, pay 25 % deposit, 36 months installments. All shops told me that I need to have a Thai guarantor, to get the credit approved. But I don't know any Thais in the Pattaya region, who would guarantee for that, even I have a good job here, plus decent income, work permit, work contract, etc.

How can I find a Thai guarantor, or maybe a finance company that doesn't insist on that.

The installments will be about 14,000 baht per month, how can a Thai with a monthly income of 8 - 10,000 baht guarantee for that anyway.

Thanks for any professional advise.

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Increase your deposit to over 50% and many of the finance companies, Toyota leasing included will not need the Thai guarantor.

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^^ Agreed. You need to up your deposit to at least 50% and then you'll have no problem.

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doesn't matter who guarantees, just get the misses to do it.

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^^ What makes you think he has one; a missus i mean?

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I don't know how it is in the Pattaya area but here in Chiang Mai I have gone auto shopping numerous times. I have found that I need no Thai co-signing as long as I put down only 25%... My problem is I want to buy a 1,000,000 baht vehicle with only 10% down and pay it off in 2 years. Reason: My company allows me a monthly auto allowance of 25,000 baht and I want to use as little of my money as possible out of my own pocket.

Shopping around I have only found one dealer that would allow 10% down, but it is for a vehicle I don't want to buy... :o

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^^ What makes you think he has one; a missus i mean?

Thanks rixalex,

You made the point. I don't want to aks any misses to co-sign. I try to avoid relying on a GF's help, I mean financial wise. What happens after a possible split off? I saw so many farangs getting in trouble after separting with their Thai wife/GF. So I try to keep finacial matters and personal issues separated.

Benny

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Hi guys,

After shopping around I finally got a deal from Toyota Buzz, Bkg, financed through Thanachart Bank.

30 % down and installments over 3 yrs WITHOUT any Thai guarantor.

Just had to provide WP, Visa, salary slip, bank statement and a map of the location of my house.

I'd would like to thank all of you who helped me with their advise.

Benny

:o

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When looking in Pattaya last year it was quite clearly indicated to me that for someone without a job or WP or verifiable income (except regular bank receipts in the passbook), a deposit of perhaps 40% would be sufficient to have the finance approved.

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Ok, I have read through a bunch of posts, but not found the exact answer i want (probably because I am crap at using search function).

I want to know what is the minimum type of visa i could get a finance deal with. Can you do it on 30 days exempt, or is minimum 60 day tourist, or non-imm O? I am thinking 4 dr pickup new (hilux or ranger) and laying down 40-50% deposit.

Cheers

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Ok, I have read through a bunch of posts, but not found the exact answer i want (probably because I am crap at using search function).

I want to know what is the minimum type of visa i could get a finance deal with. Can you do it on 30 days exempt, or is minimum 60 day tourist, or non-imm O? I am thinking 4 dr pickup new (hilux or ranger) and laying down 40-50% deposit.

Cheers

Go see

http://www.wegomotor.com

They export cars and deal direct with the factory. Best deals, i think 30% down without guarantor.

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Also Ford Sukhumvit 62 accepts 25% downpayment from foreigners and you dont need a Thai guarentee.

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OK, before the meltdown, and for 2WD not 4WD, you could perhaps get around 30% down but there was never any chance of some guy coming into Thailand on a 30 day exemption stamp and getting a car with 30% down.

Things will be harder now but I cannot remember the last time we had someone post here who successfully got finance without a work permit etc.

I'd guess yo might get lucky on a non immigrant visa, retirement visa with proof of income would be better, address confirmation from immigration etc. I think you'll be at 50% and I'm not even sure if they will do it without a guarantor.

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^^ Agreed. You need to up your deposit to at least 50% and then you'll have no problem.

what about if I'm on TR visa, not married, TGF with no job but willing to put big deposit down but on a second hand car what's my possibilites?Have proof of income from home country and have been coming here for 5 years with same girl.Had WP, buss year visa before but now just have dbl entry TR visa. I spend 6 months here and 6 months in the states.

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"The installments will be about 14,000 baht per month, how can a Thai with a monthly income of 8 - 10,000 baht guarantee for that anyway."

Do you mean to say that all the Thais that you associate with earn below 10,000 Baht or do you seriously beleive that no Thai earns over this amount?

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:whistling:

"The installments will be about 14,000 baht per month, how can a Thai with a monthly income of 8 - 10,000 baht guarantee for that anyway."

Do you mean to say that all the Thais that you associate with earn below 10,000 Baht or do you seriously beleive that no Thai earns over this amount?

Uncalled for Comment,the chaps only generalizing

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:whistling:

"The installments will be about 14,000 baht per month, how can a Thai with a monthly income of 8 - 10,000 baht guarantee for that anyway."

Do you mean to say that all the Thais that you associate with earn below 10,000 Baht or do you seriously beleive that no Thai earns over this amount?

Uncalled for Comment,the chaps only generalizing

Not to mention 2 years late and the newbie only posted 9 posts and hasn't been back since :rolleyes: ....A little slow on the uptake :whistling: ...

Hope he didn't wreck his new car :ph34r: ....

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