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[MagnumForce]

Hi,

A friend of the wife recently bought a car. She paid a cash deposit and now she has to pay the balance over 2 years at a rate of 13%. She was originally told 10% but it seems because she is not from CM province that she has to pay the extra 3% even though she had a neighbour of hers, who is very well to do and owns her own business, to guarantee for her. I had to laugh when I heard this because it sounds to me like us farang aren't the only ones being ripped off regularly. Thais even do it to other Thais, usually the rich to the poor. Truly amazing bunch of people!

Anyone have any experiences like this with leasing companies in particular?

MF

[womblejamie]

No, but rip-offs spread through all cultures, the biggest rip-offs when I lived inn Samui for farang doing another farang, usually in business!!

[earlofwindermere]

The rates sound good compared to what I've seen.  I know that Nim See Seng charge anywhere from 2-10% per MONTH for vehicle leases. Nim See Seng are the red coloured offices found on nearly every second street in the city.  They are only found in the north and charge people from other regions in Thailand a higher rate.  Incidently, the maximum legal interest rate that leasing companies can charge is 15%.  However; nearly every company exceed this rate as there is not enforcement of the law.  13% per year is a good rate from what I've seen.