Financing Used Cars in Thailand: A Guide for Foreign Residents

Foreign individuals intending to purchase a used car through car installment or financing within Thailand are required to possess a valid work permit in the country. Additionally, it is essential to enlist a guarantor who holds Thai nationality. This guarantor, whether a friend or a relative, assumes the role of an accountability partner in the event of loan default.

The stipulated documentation for this process encompasses the following:

Documents necessary for the buyer:

• Valid and current Passport.
• Non-immigrant visa (with a minimum validity of one year).
• Authenticated work permit or a certificate/letter of residence issued by Thai immigration authorities or a Thai Embassy.
• A comprehensive record of the bank book reflecting transactions over the preceding 3-6 months.
• A valid driver's license issued either by Thai authorities or an International license.

Documents requisite for the Thai guarantor:

• A certified copy of the ID card.
• A copy of the house registration certificate (Ta-bien Bann).
• Evidence of income, such as a salary certificate.
• An account statement detailing transactions over the past 3-6 months.