Why a financed car is different
With Thai hire purchase, the finance company is the registered owner until the loan is fully paid. They also hold the blue book. You are listed as the person in possession of the car. So before ownership can be transferred to a buyer, the loan has to be settled and the finance company has to release the blue book and the transfer documents.
Step 1: Ask for your settlement amount
Contact your finance company (or check its app) and ask for the early settlement amount on a specific date. It is usually less than the sum of your remaining instalments, because part of the future interest is discounted when you pay off early.
Step 2: Get an offer for the car
Compare the offer for your car with the settlement amount:
- Offer is higher than the settlement: the buyer pays off the finance company, and you receive the difference.
- Offer is lower than the settlement: you pay the shortfall, and the buyer pays off the rest.
Step 3: Settle the loan and release the book
When you sell to us, we pay the finance company directly, and they release the blue book and the transfer documents. You get the difference the same day, in cash, by Thai bank transfer or to an overseas account, whichever suits you.
After the loan is settled, finance companies usually take around 2 to 4 weeks to release the blue book, and some take longer. If you're leaving Thailand soon, start early. We can agree the price and settle the loan while you're still using the car.
Things to avoid
- Selling a financed car privately without settling the loan. The buyer can't get ownership, and you remain responsible for the loan.
- Simply stopping the payments when you leave. The finance company will repossess the car and can still pursue you, or your guarantor, for the balance.
Quick answers
Can I sell my car in Thailand if it is still on finance?
Yes. The loan is settled as part of the sale. If the price is higher than the settlement amount, you receive the difference.
Who holds the blue book when a car is on finance?
The finance company. It is the registered owner until the loan is paid, and it releases the blue book after settlement.