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Faeton

Loan money if have car foreign name.

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Hello is it possible to loan money in bank or some finance organisation in Thailand if have car for my name? Maybe someone have experience about it.

What paper work need for it? I no have a work permit.

 

Thank you.

 

Sent from my LDN-LX2 using Thailand Forum - Thaivisa mobile app

 

 

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No chance with a bank. Maybe a loan shark will but interest in the region of 3% a week if not more.

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No regular income = no credit. Especially if you are a foreigner.

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O.P. wants to borrow money from a bank with no credit history and no employment. As others have said, "Stay away from loan sharks" They have sharp teeth and they'll never find your body if you default.

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OP - With a reasonable deposit, proof of regular income and a Thai Guarantor you can get finance on a car in Thailand. 

 

It is likely your expected deposit will need to be 50%

You will need to show proof of regular funds (i.e. Salary, within Thailand or from overseas) 

Your guarantor may (will?) also need to show proof of regular funds

 

 

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9 minutes ago, richard_smith237 said:

OP - With a reasonable deposit, proof of regular income and a Thai Guarantor you can get finance on a car in Thailand. 

 

It is likely your expected deposit will need to be 50%

You will need to show proof of regular funds (i.e. Salary, within Thailand or from overseas) 

Your guarantor may (will?) also need to show proof of regular funds

 

 

I do not think he wants to buy a car. I  think he wants to borrow money and use his car as a collateral.

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OP - With a reasonable deposit, proof of regular income and a Thai Guarantor you can get finance on a car in Thailand. 
 
It is likely your expected deposit will need to be 50%
You will need to show proof of regular funds (i.e. Salary, within Thailand or from overseas) 
Your guarantor may (will?) also need to show proof of regular funds
 
 
Maybe everyone not understand what I mean.
I have car already in my name
I would like to ask cash loan from bank and blue book will be guarantee for bank.

Simular someone do it in 2016 ( screenshot) Screenshot_20191023-204328.jpeg

Sent from my LDN-LX2 using Thailand Forum - Thaivisa mobile app

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An American friend of mine's wife was trying to get a loan on an older pick up truck, owner in the book is the American. 

 

But they refused it and told him they'd do it only if the truck runs in his wife's name.

 

But he was not in the mood to change the ownership for various reasons.

 

Some people can't be trusted, there's no more to add. 

 

   

 

   

 

       

Edited by Isaanbiker
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11 minutes ago, Faeton said:

Exactly

Sent from my LDN-LX2 using Thailand Forum - Thaivisa mobile app
 

Direct from the bank you have no chance, but all those finance companies that loan against bikes, gold etc very possibly, but you would need to visit each one and see which one would do it.Each one is individually owned and offers different terms and prices.

 

Also keep in mind, some loan against a car and let you keep the car they only keep your blue book, others keep the car as well until loan is paid off

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45 minutes ago, BestB said:

I do not think he wants to buy a car. I  think he wants to borrow money and use his car as a collateral.

Right. It can definitely be done with Thanachart or Krungsri Auto but no chance without work permit, employment history and one Thai as guarantor.

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What you're looking for is a pawnbroker / pawn shop, there's plenty of these in Thailand and I'm sure some of them specialise in loans secured on vehicles.

 

I've heard of people who have borrowed money against a motorcycle so I'm sure it's possible to secure a loan against a car but you will need to do some googling on this....suggest you start googling with 'pawnbroker thailand'...

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2 hours ago, Faeton said:

What paper work need for it? I no have a work permit.

There registered companies that will lend money on a vehicle.

All you need is your blue book for the vehicle there is a limit to what they will lend and they usually want the vehicle 1st class insured.

Their interest rates are exorbitant, up to you.

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