Answered7 months ago
Can remote workers on a Destination Visa in Thailand get car financing?
Is it true that Thai car companies do not finance cars to people working remotely in Thailand on a Destination Visa?
Answer summary
It is generally difficult for individuals working remotely in Thailand on a Destination Visa (DTV) to obtain car financing. Comments indicate that the DTV is often viewed similarly to a tourist visa, leading to challenges in acquiring financing due to the perceived risks by lenders. Many financial institutions require ties to the country, such as a work permit or local residency, making it hard for remote workers to secure loans. Some individuals suggest alternatives like purchasing used cars outright or through in-house financing from small dealerships, but overall, financing is complicated for those without strong ties to Thailand.
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Anonymous ******************
*************************
idiots******
Keep in mind the rug could be pulled under you at any moment.
Thet *******
I give you my method. I just bought old model car around
*****
-9000bahts, (2500-3000$), plenty of option there, save money gradually, flip the first after 8-10 months (lose a little) and buy newer model car. And do it again in another 8-10 months. So I don’t spend Crazy IR on car loan and I can enjoy few different models.
Nelson ******
What do you think? 😅
BraveS*******
You can buy a car in installments, atleast from a 2nd hand shop
Locked ********
Yes
Jazi ********
Yep. You are a nobody for basically everything
You are a rich tourist, and you always pay in cash.
Please don't even ask why. This is an irrelevant question. Honest. Why does the sun go round the earth?
You are a rich tourist, and you always pay in cash.
Please don't even ask why. This is an irrelevant question. Honest. Why does the sun go round the earth?
A. ************
Will be difficult since you can't get a bank account with DTV. Especially a new car. The best you can probably hope for is to find some small used car dealership that will do in house financing, but the terms would probably be on a very short leash with high percentage down, and a very short payoff term.
Pui *****
If you work remotely, there's nothing keeping you from leaving next week and moving to another country so providing you a loan would be a great risk.
ExcitingEl**********
I didn’t get finance but I put a deposit down and paid of the car in 8 months with a dealership
Greg ********
I have known people working in Thailand on a B with WP to have issues with getting car finance. Same as Retirees with a decent income.
Colin **********
@Greg *******
I think there is a 70 year cut off for loans and the likeGreg ********
@Colin *********
Our Company Credit cards had a 250k limit here in Thailand. Same company in Singapore and elsewhere no such limits. Credit for foreigners not easy. Personal Credit Cards in Singapoore were multiples of monthly salary with no questions. It is all about risk managementGreg ********
@Colin *********
There might be but many on O Visa complain they cannot get a car loan. Same with other finance like a Credit Card even with a WP. I mean a real CC without an escrow.Greg ********
@Colin *********
Oh I thought OUB bought Citi. My office was in same building as Citi in Bamgkok for 4 years. When they were being sold they pushed credit cards massively as more business then higher price. They were in the building with stalls, down in the MRT and in T21.Colin **********
@Greg *******
yes i was lucky that I got a credit card with CITI, but they passed over the credit card business to KBank, so now have thiers with no restrictionsElías ********
Of course not. Why should they?
Bryon ***********
OP@Elías *******
simple question. Why would you answer so rudely? People like you ruin good info sources
Tore *********
@Bryon **********
not sure why you think that was rude? But yes no bank in any country would approve a loan for anyone without real ties to the country. Not just ThailandElías ********
@Bryon **********
Banks or stores don't give loans/credits to a person that can leave the country any other day and never come back. It's not Thai specific. They normally do it for people "tied" to the country trhu marriage, business, employment, etc. Remember the DTV is by design for people who have no real ties to the country (although some people married to locals have got it, but they can get a spousal visa if needed). And also, remember we're not even allowed to open bank accounts in Thailand. So it's not like they could possibly asses how how money you have. If you have a credit card from your home country, you can buy the car in Thailand and pay to them in installments, assuming the price is within the card credit limit.Colin **********
Its viewed a tourist visa so bank accounts and finance are likely to be very difficult.
Bryon ***********
OP@Colin *********
thank you
Robert *******
yes, getting finance without a work permit is very difficult.
The option for you but their risk to leave without paying is to high
The option for you but their risk to leave without paying is to high
Bryon ***********
OP@Robert ******
thank youActivity
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