Purchasing a Car - Ajarn Forum

Henry Chinaski · 18th August 2008, 12:58

I'm looking into buying a second-hand ride for around B400k. But I need some advice on how to pay for the damn thing, because all my money is in US accounts.

Ideally I'd like to put B250k down and finance B150k.

1. Is it possible for me to finance a car in LOS? I am a government school teacher and I have a year-to-year contract like most of us. I was told no problem if I can get a Thai to co-sign with me, but I cannot.

2. Also, how do I get USD7k or USD8k out of my US account/s for the down payment.

Thank you!

LeedsLeedsLeeds · 18th August 2008, 13:05

Pay in cash if you can, you can very easily buy a decent second hand BMW for 200,000 - 300,000 baht, just look through the car magazines.

As for getting you money over from the US, Western Union still seems to be the best and safest option.

samsara · 18th August 2008, 13:32

^a 2nd hand bmw for 200k? where are those?

LeedsLeedsLeeds · 18th August 2008, 13:35

Check out those big thick car magazines, there's loads of them. If anything happens to my Beetle then I'll certainly go for a second-hand BMW instead.

European cars are the way forward, I've got one toyota pick-up truck and that's enough Jap-crap for me.

kenkannif · 18th August 2008, 13:38

Bank to bank transfer would be a lot cheaper than Wester Union IMO...they really do take the urine!!!

Mister T · 18th August 2008, 13:40

Have looked into this myself, was told by the car company, that provided you have a work permit and have worked at the same school for over one year, it can go in your name. Bank to bank money transfer over the internet from Aus to Siam Commercial - several times, no problems.

LeedsLeedsLeeds · 18th August 2008, 13:42

Mate, it can go in your name from day one! No WP, no time constraints at all. That is if you pay cash up front, if you want to pay it off monthly then a Thai name will be required.

kenkannif · 18th August 2008, 13:47

^ Again.....that might be the case legally Leeds mate...but if the seller don't know that....chances are it won't happen!!!

LeedsLeedsLeeds · 18th August 2008, 13:50

I'm sure that it does happen that way from time-to-time KK, but surely threatening to pull out of the purchase would put him right soon enough?

kenkannif · 18th August 2008, 14:06

^ Happens a lot and no when has walking away from anything stopped a Thai being 'right' (albeit not getting any money from you?)???

Maybe they're different down south!!! I've had LOADS of nose to spite the face situations here mate!!!

Cawphad Guy · 18th August 2008, 14:20

Quote:

Originally Posted by Henry Chinaski

1. Is it possible for me to finance a car in LOS?

A few weeks ago, my wife and I were bored so we went house hunting, purely speculative - but I was interested in seeing inside these poster houses, and finding out about the finance situation.
It seems as though it doesn't matter what your salary is, they'll give you finance - but you need a Thai guarantor that has either a job or assets (land/house).

I asked, what if I missed a payment? The answer - you lose the house.
Would I get any of the money I have paid into the finance agreement back? No.

I don't know if that's true or a mis-communication, but if that's the case with finance agreements over here - cash up front seems to be the way to go.

Quote:

Originally Posted by Henry Chinaski

2. Also, how do I get USD7k or USD8k out of my US account/s for the down payment.

Transfer it into your Thai bank account, your US bank should be able to do it over the phone.

Killing Me Softly 101 · 18th August 2008, 15:06

Quote:

Originally Posted by Henry Chinaski

Also, how do I get USD7k or USD8k out of my US account/s for the down payment.

SWIFT transfer (bank transfer) contact your US bank.

Also why second hand. New is much better.

Welshman · 18th August 2008, 16:22

Quote:

Originally Posted by LeedsLeedsLeeds

European cars are the way forward, I've got one toyota pick-up truck and that's enough Jap-crap for me.

Sorry, leeds, but I couldn't disagree more. BMWs, Mercs, Volvo - you need an arm and a leg to pay for spares in Europe, let alone out here. One of the main problems with these is that you have to buy spares manufactured by them which can work out several times more expensive than the non-proprietary spares you can buy for other vehicles.

If Toyota are the biggest motor company now and Bankok taxi drivers rely on them, then that says a lot for their reliability and durability.

As far as finance is concerned, you'd need a Thai guarantor - not easy to persuade one to guarantee your debt.

I bought cash and had the money transferred from my bank account directly to the account of the dealer I bought my car from by way of a telegraphic transfer.

I'm not sure how that would work in the US, especially if you're out of the country. Fortunately I had given my daughter power of attorney before I left and she was able to do the transfer in my name.

rogerman · 18th August 2008, 20:39

Quote:

Originally Posted by Welshman

Sorry, leeds, but I couldn't disagree more. BMWs, Mercs, Volvo - you need an arm and a leg to pay for spares in Europe, let alone out here. One of the main problems with these is that you have to buy spares manufactured by them which can work out several times more expensive than the non-proprietary spares you can buy for other vehicles.

Thats right, Especially with Merc's (Not that i'd be seen dead in one here). With late model cars, They require computer diagnosis. To do a tune up for example, you need a lap-top

. I wouldn't put my 2+million baht car in the hands of a thai, using a computer thats got more viruses than most vegetables you buy here.... Not that they'd know how to use them in the first place

aging one · 18th August 2008, 20:45

Plus the European cars air conditioners cant hold up to the Thai weather. The fans are just not strong enough when compared to the Japanese models. Cheaper yes, and if you can take care of them nice deal, but if you are going to a mechanic even a Thai one you are gonna pay more.