car loan
- Business News
Krungsri Auto predicts minimal growth in new auto loans despite EV boom
Krungsri Auto, Thailand’s leading auto loan provider, predicts a mere 0.4% increase in its new auto loans for 2024, despite the anticipated boom in electric vehicle (EV) sales at the upcoming 45th Bangkok International Motor Show. This forecast was shared by Congsin Congcar, the head of Krungsri Auto Group, after the company issued over 223 billion baht in new auto…
- Business News
Thai banking industry faces hurdles amid high auto loan rejections
Last year’s robust profits from the Thai banking industry stirred debates, as critics pointed to excessively high interest rates. The sector witnessed a 17.8% surge in net interest income (NII) to 727 billion baht (US$20.2 billion) in 2023, up from 617 billion in 2022. The five biggest banks by assets contributed significantly to this rise with an increased net interest…
- Automotive
Can foreigners get a car loan in Thailand?
Whether you’re eyeing up that sassy sedan or that rugged 4×4 in a Thai car dealership, there’s just one niggling question lurking in the shadows. How are you, as an expat, going to afford your gleaming new motor? Hand on heart, it’s quite normal to feel a right pickle about finance options in a foreign land. Don’t worry, though; we’ve…
- Business News
High depreciation of EVs raises loan concerns says National Credit Bureau
The National Credit Bureau (NCB) raised concerns about the high depreciation rates of electric vehicles (EVs) and the associated loan risks. As the popularity of EVs, particularly Chinese brands, continues to rise, so does the volume of loans attributed to their purchase. However, EVs depreciate faster than traditional internal combustion engine (ICE) cars, which has heightened the risk for auto…
