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Car Finance - Downpayment Required?

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I am on the verge of buying a car. I am not to sure I want to cough up the +1.3M for a new Camry. I was thinking more in terms of making a 300K downpayment and finance the rest. After reading some of the threads on this forum it appears that downpayments are "refreshingly" low in Thailand, but in my case it seems like 35% is the minimum. This is just not the Toyota dealer, Honda appears to have the same policy for the Accord.

Is this just a hoax or is this the usual farang terms I simply have to settle for?

I should mention that I dont have a Thai national as guarantor.

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If you dont have any previous finance or thai creditcard, 35% down on passanger car seems normal without thai guarantor. 10% is doable if creditrating is excellent.

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If you dont have any previous finance or thai creditcard, 35% down on passanger car seems normal without thai guarantor. 10% is doable if creditrating is excellent.
Ok, thanks, that pretty much makes sense.

I guess a Thai Amex Corporate card doesn't give me any credit rating even though I recently received notice that they have shared my credit information with the appropriate credit rating agencies in Thailand?

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.
I called my bank and had NO problems getting credit. My Amex Corporate Card gave me enough credit history and together with my bank statement and employment in Thailand it was a done deal in 10 mins. No clue about the marriage visa though, but my advice is: call your Thai bank.

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.

go see a car dealer and they call in the finance guys. you will get a car financed, question is how much down. pending your cashflow. also go to the yellow bank (Ayuduha) and apply for a creditcard backed by security deposit. creditcard limit 80% of deposit, done in 2 weeks.

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.
I called my bank and had NO problems getting credit. My Amex Corporate Card gave me enough credit history and together with my bank statement and employment in Thailand it was a done deal in 10 mins. No clue about the marriage visa though, but my advice is: call your Thai bank.

Well, sadly enough the initial credit approval was rejected once they Bank realised I had only carried a WP for one year.

A Thai guarantor is now required, despite I am willing to make a 50% downpayment. The same message has been cimmunicated by all major institutes, regardless of the 50% downpayment and an existing flawless credit history (despite only 1 year in Thailand) a healthy salary + savings in the bank.

It now appears as if a minimum requirement to finance a car is that you have carried a WP for a minimum of 2 years.

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.
I called my bank and had NO problems getting credit. My Amex Corporate Card gave me enough credit history and together with my bank statement and employment in Thailand it was a done deal in 10 mins. No clue about the marriage visa though, but my advice is: call your Thai bank.

Well, sadly enough the initial credit approval was rejected once they Bank realised I had only carried a WP for one year.

A Thai guarantor is now required, despite I am willing to make a 50% downpayment. The same message has been cimmunicated by all major institutes, regardless of the 50% downpayment and an existing flawless credit history (despite only 1 year in Thailand) a healthy salary + savings in the bank.

It now appears as if a minimum requirement to finance a car is that you have carried a WP for a minimum of 2 years.

Took delivery on a 950k Vigo 4 months ago. 25% down, 2,75% interest on 48 months. Never had a workpermit. GF had to co sign, because its a 4x4. Choosing a Civic at 1 mill baht would be less down and no guarantor.

Have thai credit card, financed 2 previous cars in my name, 5-20 mill baht cashflow a year for 7 years here.

I would try another dealer approaching another financecompany. I find Tisco and Tanachart easy to deal with

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I would try another dealer approaching another financecompany. I find Tisco and Tanachart easy to deal with
Tisco and Thanachart are amongst the companies that declined 50% down due to me only carrying a WP for 1 year.

In fact, there are 4 companies that declined for exactly the same reason.

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I would try another dealer approaching another financecompany. I find Tisco and Tanachart easy to deal with
Tisco and Thanachart are amongst the companies that declined 50% down due to me only carrying a WP for 1 year.

In fact, there are 4 companies that declined for exactly the same reason.

I know having a workpermit salary should be 3-4 times monthly payments, and a minimum of 50k left after carpayments

I guess then I would look at a 650k car :)

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I know having a workpermit salary should be 3-4 times monthly payments, and a minimum of 50k left after carpayments
In my case, what would be left after monthly payment is CONSIDERABLY more than 3-4 times the payment itself.

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Usual minimum down payments are different for different models.

Pick-ups, vios etc. 10% - 15% down.

Camry's, SUV's (insert more expensive cars here) 25% - 35% down.

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Usual minimum down payments are different for different models.

Pick-ups, vios etc. 10% - 15% down.

Camry's, SUV's (insert more expensive cars here) 25% - 35% down.

Yes, they say so, but actually you never get it for the 10% option. We try this (car rent business with good cashflow in the bank) and they wining around for weeks and finally they recomendet us, we should make a higher downpayment.

Basivly 25% is the option.

Edited by stingray

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Usual minimum down payments are different for different models.

Pick-ups, vios etc. 10% - 15% down.

Camry's, SUV's (insert more expensive cars here) 25% - 35% down.

Yes, they say so, but actually you never get it for the 10% option. We try this (car rent business with good cashflow in the bank) and they wining around for weeks and finally they recomendet us, we should make a higher downpayment.

Basivly 25% is the option.

Have you been carrying a WP for more than 2 years?

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Is there anyway to get financing on a marriage visa? If say you have 3 years of history on your bank book showing substantial monthly income from the USA. I have currently been on Marriage visa for 3 years now, but find the no credit in thailand thing starting to be a pain as I get more cozy here.
I called my bank and had NO problems getting credit. My Amex Corporate Card gave me enough credit history and together with my bank statement and employment in Thailand it was a done deal in 10 mins. No clue about the marriage visa though, but my advice is: call your Thai bank.

Well, sadly enough the initial credit approval was rejected once they Bank realised I had only carried a WP for one year.

A Thai guarantor is now required, despite I am willing to make a 50% downpayment. The same message has been cimmunicated by all major institutes, regardless of the 50% downpayment and an existing flawless credit history (despite only 1 year in Thailand) a healthy salary + savings in the bank.

It now appears as if a minimum requirement to finance a car is that you have carried a WP for a minimum of 2 years.

i have just brought a bmw on finance...i was in the same position as you -been working in thailand for 15 months now and have a work permit for a year that was renewed for another year 2 months ago. I went everywhere trying to get finance putting down 30% - was told it was not possible for a foreigner even though i have a Thai TMB credit card without Thai guarantor. In the end i suggested to the dealer I could put down 50% but was not going to ask anybody to guantee it for me as i would feel embarassed having to ask!! absolutely no problem...finance was agreed with thanachart bank - i put down 1m thb and they financed the rest at 3.6% over 3 years - the log book is in mine and the banks name until i make the last payment...I spent hours searching forums on how to get finance putting down the minimum deposit without guarantor...i had to provide loads of documents as you would expect but I have no guarantor and the car is parked outside my house now!! believe me my story is 100% fact..if you have a work permit and local salary paid into Thailand you can get 50% finance quite easily with tanachart...the guy from the bank even came to my house and went through all the documents..the only catch I thought there would be is that you have to buy their insurance...i was pleasantly surprised when the policy for the year was 36,000 thb for a 2m car!! great result....hope you get your car!

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