Do not look only at the monthly payment. Look at the total you pay

The monthly payment can always be made lower by stretching out the number of months, but the longer it runs, the more total interest you pay. Multiply the monthly payment by the number of months, add the down payment, then compare that with the car's price. The difference is what you pay extra for the privilege of paying in installments.

Do this with every offer you get, and compare them by the total, not by the monthly payment.

What to ask clearly before you sign

• What kind of interest rate is quoted? A flat rate calculated on the full original amount for the whole contract makes the loan feel much cheaper than it really is. Always ask for the total amount you will pay.
• Can you pay it off early, and what is the penalty? Ask on day one, not on the day you want to pay it off.
• What is bundled into the contract? Insurance or add-on services included without you asking for them.
• Who holds the registration book (lem tabien) while you are paying, and when do you get it back?
• What costs are due on the day you pick up the car? Ask for an itemized written list, not a single lump-sum figure.

Count the costs that follow, not just the installment

Every car has yearly costs you pay anyway, whether you finance it or not: annual tax, compulsory insurance (Por Ror Bor), insurance, fuel and scheduled maintenance.

An older used car always costs more to maintain than a new one. If the installment eats your budget so there is nothing left for repairs, you will be in trouble the day the car breaks down while it is still not paid off. Set aside a lump sum for repairs from the day you decide.

This website is not a lender, not a loan broker, and has no stake in any financial institution. The monthly payment figures shown on car cards are only estimates to help you compare cars. They are not loan offers and are not binding on anyone.