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  1. #1
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    How to get a loan for a new car

    Our pick up is now 12 yrs. old, and I would like to buy a new car. Been living here for 12 years, got a good retirement pension. A number of years ago (6 or 8), I tried getting financing at Toyota, but they said
    " Farang no can make". I have now heard that this has changed.
    Please enlighten me if you have done it. My wife is a homemaker, so I'm the only one who can show income.

  2. #2
    Excitable Boy
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    Unless you have a business and a relationship with a bank, it will be difficult or impossible to get a loan in your name without a Thai co-signer as they're afraid a foreigner will default and leave the country, and they'll have no recourse to collect what's owed.

    You will need a Thai guarantor- if your wife has a decent savings account they might accept her even if she's not employed- if not, you'll need to find someone (perhaps one of her relatives) to co-sign for you- once that happens, it's no drama at all.
    There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die.
    HST

  3. #3
    disturbance in the Turnip baldrick's Avatar
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    lots of facilitator companies were set up to assist Thais to get loans for the first car buyers scam , so I imagine there will be many around eager to help now that the scam has finished.

    do you have a house ? - use it as collateral

  4. #4
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    get loan in wifey's name with you as guarantor

  5. #5
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    Quote Originally Posted by mellow View Post
    Our pick up is now 12 yrs. old, and I would like to buy a new car. Been living here for 12 years, got a good retirement pension. A number of years ago (6 or 8), I tried getting financing at Toyota, but they said
    " Farang no can make". I have now heard that this has changed.
    Please enlighten me if you have done it. My wife is a homemaker, so I'm the only one who can show income.

    I got a loan through Thanachart 5 years ago with a live-in bargirl with no income as a co-signer. I put 150,000 Baht down and they financed the rest. It surprised me too. You might consider trying the car dealers in farang populated areas like Pattaya, they will be more familiar with how to get a loan to go through.

  6. #6
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    A falang friend of mine went through this same exercise, so I think I know the answer.
    Go to hungry vendors- which absolutely does not include Toyota. That's why he drives a Tata.
    My personal advice, pay cash for what you can afford to put down. Given patience, there are decent buys to be had.
    If you are employed by a decent company/ institution, I understand that it is much easier for farangs to get credit in Thailand.

  7. #7
    I'm in Jail

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    Take Betty into your nearest kassikorn





  8. #8
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    Why do you want a new car if you haven't been able to save for it in 12 years ?

  9. #9
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    Quote Originally Posted by Fondles View Post
    get loan in wifey's name with you as guarantor
    Fondles is right .
    my TGF went to buy a new fortuner, she owns he house she has a 6-7 year old Vigo4x4.
    she erns 35,000b per month.
    She put a 380,000b deposite they ask me to go guarantor, as I ern more baht than her.

  10. #10
    R.I.P

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    Quote Originally Posted by Ratchaburi View Post
    Quote Originally Posted by Fondles View Post
    get loan in wifey's name with you as guarantor
    Fondles is right .
    my TGF went to buy a new fortuner, she owns he house she has a 6-7 year old Vigo4x4.
    she erns 35,000b per month.
    She put a 380,000b deposite they ask me to go guarantor, as I ern more baht than her.
    The dealer will set the loan up for you, or they should. Either via the bank or Manufacture. I bought a Ford. The dealer set all the arrangements up via the government bank. 200,000 down and 20 minutes later I was out of there. Way easier than buying one in the US.

  11. #11
    Member Bettyboo's Avatar
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    Main dealers such as Toyota and Honda are easy to get finance through if you meet their criteria.

    I'm approaching the end of my finance on the Honda City. Cost 650,000, we put down about 190,000 after everything was added up. I had 5+ years of work permits and employment records. They didn't want anything else.

    It's about 25% down and 3 or 4 years work permit/bank records that should be over 40,000 baht per month. The missus didn't co-sign anything. I'm not sure if they will consider retirees, but if you have something like multiple year proof of residence and annual visas, aswellas proof of monthly payments into your bank over 3 or 4 years, plus you have 25% deposit then you have a fair chance. Pop to your local dealer and try to find somebody that speaks English. I was living in Jarunsanitwong at the time, went to all the main dealers in Pinklao, and they all said 'no pombem'...
    How do I post these pictures???

  12. #12
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    Quote Originally Posted by sabang View Post
    A falang friend of mine went through this same exercise, so I think I know the answer.
    Go to hungry vendors- which absolutely does not include Toyota. That's why he drives a Tata.
    My personal advice, pay cash for what you can afford to put down. Given patience, there are decent buys to be had.
    If you are employed by a decent company/ institution, I understand that it is much easier for farangs to get credit in Thailand.
    More often than not, when purchasing a vehicle, the down payment [or extended loan for the vehicle] is written into the full-payment.......which is not a common practice in many parts of the world. Usually required, is cash for down payment, etc.

    In Thailand, the car dealers/financial institutions are forced to install this all-inclusive loan/down payment into their scheme......it's but a few that have the available for any upfront purchase. Otherwise, they wouldn't be selling many cars/pick-ups.

  13. #13
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    Or put 1/2 down and do what you want.

  14. #14
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    Thank you for all your responses. We plan to put about 200,000 Bath down. I will finance my wife's car. I'm pretty sure I can even get a Thai as guarantor. I can get a letter from the embassy showing my income as I do for my yearly retirement visa.

  15. #15
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    Why don't you get the loan in her name and you go guarantor ?

  16. #16
    Have you got any cheese Thetyim's Avatar
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    ^
    Because when he has finished making all the payments she has a car and he doesn't

  17. #17
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    Quote Originally Posted by Thetyim View Post
    ^
    Because when he has finished making all the payments she has a car and he doesn't
    So after all the years they have been together, he can no longer trust her.

  18. #18
    Member Bettyboo's Avatar
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    When I complete my car payments, I'll sign the car over to the missus. I've always thought of every baht spent as lost. Plus, we've given each other about 13 years of misery, so she deserves some recompense...

  19. #19
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    That right Betty, We came into this world with fu_k all & will leave this world with f_ck all.

  20. #20
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    Quote Originally Posted by Ratchaburi View Post
    That right Betty, We came into this world with fu_k all & will leave this world with f_ck all.
    You are so right. But, hasn't it been one hell of a journey?

  21. #21
    Thailand Expat Jesus Jones's Avatar
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    Depends on the bank the dealership uses. A colleague just bought a Suzuki V-strom with no need for a Thai. I on the otherhand required my wife when I bought the Pajero and more recently the Kawa Versys.

    Proof of income, visa etc is needed.

  22. #22
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    Quote Originally Posted by Ratchaburi View Post
    Quote Originally Posted by Thetyim View Post
    ^
    Because when he has finished making all the payments she has a car and he doesn't
    So after all the years they have been together, he can no longer trust her.
    We have been together for 18 yrs., I hope we get another 18.

  23. #23
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    been here for 12 years and cannot go and buy a car without asking for help?

  24. #24
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    I got my bike loan through krungsri with no work permit and the wife is a housewife never had a job. Its (the loan) in my name and she is the co-signer. They asked 25% down but i added more and shortened the length. FYI i tried in pattaya and the answer was no without discussion. Called bkk and no problem....They were interested in bank statement more then anything and we run everything through the bank so at least 200k in out between us a month....

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