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Need to stop paying car loan due to returning to my country

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On ‎8‎/‎15‎/‎2019 at 1:49 AM, LukKrueng said:

 

 

AFAIK it is not possible to OFFICIALLY take over someone else's payment. The correct way is to sell the car and pay the outstanding balance of the loan, then the new owner should ask for a NEW loan against the car. 

 

Completely wrong - taking over car finance payments from someone else is a common thing here and there is an actual fee to do it (from memory about 3,500 baht).

 

The problem with that though is interest charges are loaded up front here (like they were in the UK before the finance houses got their wrists slapped) - so if you take over the payments (and attached interest) - you will often find you will get a far better deal armed with the cash for a similar car. 

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4 hours ago, Toosetinmyways said:

If you have a loan you must have a guarantor.  Have you discussed this with them?

Eh ? Why ?

 

Guarantor's are only involved for someone who has bad credit and cannot get the loan on their own

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11 minutes ago, Handsome Gardener said:

Eh ? Why ?

 

Guarantor's are only involved for someone who has bad credit and cannot get the loan on their own

Wrong!

A lot of finance companies / banks here require a guarantor, especially for a foreigner, credit rating has nothing to do with it.

I have financed several cars here and had to provide a guarantor before, if you increase the percentage of deposit, then the requirement can go away.

 

OP, your post makes little sense, why walk away from the car / loan, which is immoral, you can sell the vehicle, even if it only pays off the finance, although TBH taking a loan of 6 years duration for a car is not a good idea and suggests that the monthly loan payments needed to be low and therefore there may not be any equity in the car.

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19 hours ago, BestB said:
  23 hours ago, Just Weird said:

Why would he waste his time divulging information unnecessarily to amuse posters here when not one poster* who has suggested what you are has so far indicated that they are in the market for a car? 

 

I guarantee that no one on this forum will be genuinely interested in buying it, but it will give a few posters something to do for a few hours dragging this thread out.  If I'm wrong I'll apologise to you and the member who buys it if it is confirmed properly here.

 

Edit:  *Apart from Don Mega.

To OP.

 

     PM me and I'll give you the name & number of my car guy.  He will sell it, at an agreed upon price that you confirm.  He will charge you a commission.  You take whatever equity is in the car and go.

     I have used him for 5 or 6 vehicles.

 

    

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2 hours ago, Toosetinmyways said:

True

 

I will rephrase my question to the OP. If you have a guarantor have you consulated with them.

Not true.

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3 hours ago, Handsome Gardener said:

Completely wrong - taking over car finance payments from someone else is a common thing here and there is an actual fee to do it (from memory about 3,500 baht).

 

The problem with that though is interest charges are loaded up front here (like they were in the UK before the finance houses got their wrists slapped) - so if you take over the payments (and attached interest) - you will often find you will get a far better deal armed with the cash for a similar car. 

I already answered another reply so let me make my point clearer. You don't really take over the payments. You actually pay of the original loan and take out another after/if the credit company/bank approves your loan request.

anyway, this is a 4 pages long thread started nearly 3 days ago and the op never bothered to answer/reply any of the questions and suggestions directed at him. So either he's left Thailand already or could it be just a troll?

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