- Buying a car is too costly?
- “Buying” a new car that is yours for 10 years only?
- Want to avoid a hefty down payment by buying a car that will only depreciate over time?
- Don’t like the hassle of maintenance, servicing and repairs; roadtax, insurance, fines, etc?
- What about not wanting to sign a new car loan agreement again?
- Want to maximise your loan by leasing a Uber car and use it to generate income?
consider RENTING or LEASING
WHY LEASE A CAR
Car ownership in Singapore can be a complicated affair. However, a car lease lets you enjoy the full benefits of personal mobility whilst freeing you from the complexities and risks with purchasing a car.
Choosing a car to lease is as simple as shopping for one. Simply decide on the make and model of your choice, your car’s preferred colour and accessories, and the duration that you would like to drive your car for. A fixed monthly lease rate based on your lease tenure is then calculated and you only need to pay monthly for as long as your contract lasts.
A car lease also takes away the financial hassles of car ownership so you can focus on enjoying the drive.
Purchasing a car in Singapore requires you to pay a 50% or 40% cash downpayment, depending on your car’s Open Market Value (OMV). This can be a rather sizeable amount given the high prices of cars in Singapore. However, when you lease a car, you are not required to pay a hefty downpayment and the opportunity cost you save from a high upfront cash payment could well mean other possibilities for you to enjoy… like investing in your home.
NO RISKS OF DEPRECIATION
The constant fluctuations in Certificate of Entitlement (COE) supply and prices makes the prices of cars extremely unpredictable and volatile. This makes it difficult to foresee the future value of your vehicle as it largely depends on the future prices of cars based on the prevailing COE costs. In car leasing, we bear the depreciation risks of your vehicle’s future value and you only need to pay the monthly lease rate that was agreed upon at the start of your contract – thus giving you a clear view of your finances throughout your lease.
AVOID NEGATIVE EQUITY SITUATIONS
Negative equity often arises when your unpaid loan amount with interest is higher than the actual value of your car in the open market. This is usually the result of asset depreciation or other unforeseen circumstances. A car lease however doesn’t expose you to the risks of your vehicle’s depreciation. And because you are not financing your car with a loan, you’re also not exposed to the risk of finding yourself in any negative equity situation.
YOUR CAR = UBER CAR = GENERATE INCOME
You can have your own car to send the wife/hubby to the mall and to ferry the kids to and from school… or for that family outing at Changi Point. Better still, you can also use the car to Uber passengers during your “free” time … and generate valuable income. Isn’t that interesting!
Whether it’s a visiting guest from overseas or the need for extra mobility on a weekend, our flexible short-term rental will provide you with a flexible solution that is also easy on the pocket.
Short term car rental is the most ideal solution if you need a car or several vehicles for only a week or a month. This option is popular with customers who have just arrived in Singapore and are here for a short period of time or for those who travel frequently. Corporate Customers appreciate the possibility to get access to a selection of cars for a short period, such as during events or conferences that involves the hosting of foreign visitors.
Short Term Rentals are chargeable by weekly or monthly rates. An excess liability for loss damage collision is applicable for each rental. Additional personal accident insurance (PAI) may also be purchased at a small premium.
|Yearly (payable per month)|
|HONDA Civic 1.8||1800|
|Weekly||Monthly||6-Month (Payable Per Month)|
|CHEVY Optra 1.6||400||1400||1260|
|HONDA Civic 1.6||450||1600||1440|
|VW Passat 1.8||600||2100||1900|
TALK TO US… WE WILL DISCUSS YOUR OPTIONS AND WILL SURELY WORK TOWARDS A SOLUTION THAT MEETS YOUR NEEDS.