Where are the Best Car Loans? We Chose 7 Best Car Loan Providers in Thailand
Car loans are an excellent option for people who need to quickly get some cash, but don’t have enough savings at the moment. Car loan providers are financial institutions that offer instant cash loans in times of need when you are unable to borrow from someone.
To find the best car loan providers we recommend to do research and compare car loan rates from popular loan providers. As there are various auto loan providers, each of them has different requirements and conditions to accept giving a loan on car, including interest rate, salary requirements and additional fees.
We’ve gone ahead to save you time and gathered information about the best car loan providers in Thailand. If you’re still not sure, you can compare car loans with MrKumka.com without having to give your contact information.
ASN Finance
ASN Finance is a financial service provider that transparently works under the supervision of the Bank of Thailand. Company provides auto loans with reasonable interest and high quality service. You can apply for a loan online through a simplified and convenient application process and get approval quickly. Even if your car was made older than 10 years, you still can get a car loan with a low interest rate
Features of ASN Finance:
- Low monthly interest rate 0.89%;
- Can apply if you are still paying installments;
- No need to find a guarantor;
- No need to transfer the registration book;
- Can continue to use car in daily life;
- Cars aged up to 15 years.
Who is eligible to apply for a loan on car loan with ASN Finance?
Thai citizens from 20 to 65 years with certain monthly income. Also, have a registered vehicle on your name.
What documents do I need to apply for a car loan with ASN Finance?
- Copy of National ID card
- House registration book
- Last month salary slip or income certificate (For individuals)
- Copy of bank account used for operating business (for business owners)
- Copy of business license issued by a government agency (for business owners)
- Copy of shareholders not older than 3 months (Additional for business owners)
- Car registration book
- A copy of the first class or 2+ car insurance policy ( expiring no less than 6 months)
Kiatnakin Phatra
Kiatnakin Phatra is a well-known established company operating under Kiatnakin Phatra Financial Group – a merger of Kiatnakin Phatra Bank Plc. and Kiatnakin Phatra Securities Plc.. Company provides quality and quick services with low car loan rates, and high approval credit limit (up to 150% of appraised vehicles price) and long-term installment period.
Features of Kiatnakin Phatra:
- Starting interest rate 0.27% per month;
- Get loan up to 84 month installment period;
- Get high credit limit up to 150% of appraisal price
Who is eligible to apply for a car loan with Kiatnakin Phatra?
Thai citizens from 20 to 65 years with minimum income of 10 000 THB. Foreigners with work permit in Thailand, or have name in the house registration book longer than 5 years, and have a Thai citizen as a guarantor.
What documents do I need to apply for a car loan with Kiatnakin Phatra?
- Copy of National ID card and Copy of name change certificate if needed
- Passport (for foreigners)
- Work permit (for foreigner)
- House registration book
- Salary slip or income certificate (for individuals)
- Bank statement for the past 6 months
- Copy of commercial registration (for business owners)
- VAT registration certificate Por Por 20 (for business owners)
- Withholding tax certificate (for business owners)
- Documents stating ownership (for business owners)
- Copy of bankbook
- Copy of vehicle registration book
KTC
KTC is a company that operates as a credit card and related business, a merchant acquiring businesses, payment services, personal loans and car loans. High quality and transparent services are available every day, getting fast approval within 1 hour after completed car inspection
Features of KTC:
- Credit limit up to 1,000,000 THB
- Daily available service, no holidays;
- Easy installment starting with 0.98% per month;
- 84 months installment period;
Who is eligible to apply for a loan on a car with KTC?
Thai citizens, age 20-65 years old with minimum monthly income 8 000 THB (30 000 THB monthly revenue for business owners).
What documents do I need to apply for a car loan with KTC?
- Copy of National ID card
- House registration book
- Salary slip or income certificate
- Bank statement for the past 6 months
- Copy of bankbook (Krungthai bank, Kasikorn bank, Bangkok bank)
- Copy of vehicle registration book
- Copy of commercial registration (for business owners)
- VAT registration certificate Por Por 20 (for business owners)
- Withholding tax certificate (for business owners)
- Documents stating ownership (for business owners)
- A copy of valid car insurance policy according to the conditions
Somwang
Apply for a Somwang car loan if you need a large amount of money urgently. This company is famous for fast and easy approval, high credit limit and low interest. Additionally auto loans available for various vehicle types: motorbike, big bike, sedan / pickup / van, truck.
Features of Somwang:
- Credit limit up to 150% of appraised value of the vehicle;
- Low monthly car loan interest rates 0.59%;
- Big bike, motorcycle, van, car loans available;
- Instalment period of maximum 25 years for cars, and 12 years for motorcycles, bikes;
- Loans for pensioners.
Who is eligible to apply for a car loan with Somwang?
Thai citizens, aged 20-70 years, owners of the vehicle.
What documents do I need to apply for a car loan with Somwang?
- Copy of National ID card
- House registration book
- Salary slip or income certificate
- Bank statement
- Vehicle registration book
- Valid car insurance policy
- Copy of commercial registration (for business owners)
- VAT registration certificate Por Por 20 (for business owners)
- Withholding tax certificate (for business owners)
- Documents stating ownership (for business owners)
TTB
TTB is a bank that provides convenient car loan services for various kinds of vehicles. You can get money instantly the same day and not worry about time.
Features of TTB:
- Credit limit up to 100% of the appraised value of the vehicle;
- Very low yearly interest starts at 0.27% per month;
- Fast approval within 1 business day;
- Installment period up to 84 months.
Who is eligible to apply for a loan on car with TTB?
Thai citizens, aged 20-65 years, with minimum income 9,000 THB.
What documents do I need to apply for a car loan with TTB?
- Copy of National ID card
- House registration book
- Salary slip or income certificate
- Bank statement
- Car registration book
- Car insurance policy
Tisco
Tisco Bank Company Limited provides car loans for multiple purposes. Auto loans available for vehicles from 2 to 18 wheels, no hussle, no book transfer. Maximum car age is 25 years.
Features of Tisco:
- Credit limit up to 100% of appraised value of the vehicle;
- Low monthly interest rate;
- Instalment period up to 72 months;
Who is eligible to apply for a car loan with Tisco?
Applicants must be aged 20-70 years, own the vehicle and be domiciled in Thailand.
What documents do I need to apply for a car loan with Tisco?
- Copy of National ID card
- House registration book
- Salary slip or income certificate
- Bank statement for 6 months
- Valid car insurance
- First page of bankbook
- VAT registration certificate Por Por 20 (for business owners)
- Car registration book
UOB
UOB is a well-known bank in Asia, Europe and America. Car loans are suggested for following vehicle types: motorbike, big bike, sedan / pickup / van, truck. The company provides quick and trustworthy financial services for people who are looking for fast cash.
Features of UOB:
- Credit limit up to 100% of appraised value of the vehicle;
- Low car loan interest rates starting with 0.45%;
- Instalment period up to 72 months;
- Loans for quick approval on-site within 40 minutes*..
Who is eligible to apply for a car loan with UOB?
Thai citizens, aged 20-65 years, monthly income from 15,000 THB. For employees – be employees at least 1 year, for business owners – 3 years.
What documents do I need to apply for a car loan with UOB?
- Copy of National ID card
- House registration book
- Salary slip or income certificate
- Certificate of business registration ( for businesses)
- Copy of bank book or bank account
- Car registration book
- Copy of account page for money transfer
Please note that every car loan provider requires to perform a vehicle inspection before loan
” Things to consider when choosing a car loan provider “
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– Interest rate
Interest rate is one of the most important factors when choosing an auto loan provider. Lower interest rates generally mean lower monthly payments.
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– Instalment period
Longer instalment period may reduce your monthly payment rate, however, you will have to pay more interest over the life of the loan.
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– Fees
Some car loan providers might charge application fees, initiation fees, fines and so on. Please ask your car loan provider in advance.
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– Customer Service
Find lenders that are responsive, helpful, and easy to work with. Consider the availability of contact options before making your decision.
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– Company reputation
Consider the provider’s reputation, check complaints and negative feedback before making a final decision.
Take your time to consider all of these factors to increase your chances of finding a car loan provider that meets your needs.
@mrkumka
