Comparing 16 Different Car Loan Providers in Singapore

Comparing 16 Different Car Loan Providers in Singapore

October 23, 2024

A breakdown of car loan providers in Singapore

  • Car loans are great for people who can’t pay the upfront cost of the car. Instead, a loan can be taken out and paid back in instalments with interest

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No car loan provider listed in this article is a recommendation of ours. Please do your own research into car loan providers before choosing to borrow.

Motorist.sg

From bank financing to paperwork settlement, the motorist will manage all of the essential paperwork for both buyers and sellers and monitor the whole car ownership transfer procedure. They also provide flexible and affordable finance alternatives (both bank and in-house) for automobile purchases, as well as assist clients in comparing insurance policies from various insurers.

With an average of 400 cases each month and excellent Google reviews (4.95/5). Since its start in 2015, they have aided 453,000 drivers and completed $593,000,000 in car transfers.

Phone number: +65 6589 8800 

Speed Credit

To meet the demands of its consumers, Speed Credit offers both new and used vehicle loans. They assist in securing the cheapest rates and most flexible loan terms and payback durations for new vehicle loans and handling all the formalities and paperwork.

They have underwritten $1.2 billion in car loans, thanks to their vast network of banks and financial institutions and over 50 years of combined industry expertise.

Phone number: +65 6444 4400 

Money Max Leasing

Money Max Leasing specialises in renewing your COE or getting a car loan. The maximum duration for auto loans is seven years. They are a publicly traded firm that offers reasonable interest rates and quick approval, as well as simple repayment alternatives. 

They strive to provide hassle-free auto-financing options for all clients as a subsidiary of MoneyMax Financial Services Ltd.

Phone number: +65 6280 0808 

Prime Motor and Leasing

Prime Motor, a member of the Prime Group, is an automotive dealership that also offers vehicle finance and insurance. Deferred payment arrangements, loan plans, insurance, and high-value automobile trade-ins are among the services they provide.

It's a simple and quick loan application procedure with special insurance prices and cheap interest rates starting at 1.88 percent. The maximum period of employment is eight years.

Phone number: +65 6872 3113

Swee Seng Credit

They provide vehicle loans with cheap monthly payments and flexible repayment choices thanks to solid financial partners and excellent interest rates starting at 1.68 percent. Electric car loans are also available, with Tesla finance rates starting at 1.68 percent.

They also provide an in-house vehicle loan with a flexible payment plan and minimal down payment, as well as services to communicate with the bank on your behalf to improve your acceptance rate.

Phone number: +65 6466 3808 

Think One Credit

Think One Credit, a reputable firm with more than 27 years of experience in Singapore with flexible lending plans, was founded in 1992. They also handle the paperwork to ensure a smooth application process and offer in-house financing alternatives. 

They provide motor insurance, automobile leasing, and auto car services in addition to car finance.

Phone number: +65 6555 3300 

Platinum Motoring

Platinum Motoring specialises in COE renewal loans with interest rates as low as 1.8% and monthly payments as low as $200+. They provide full and extensive consultations, as well as cheap interest and admin fees, quick approvals, and no hidden charges. The maximum loan amount is equal to 100 per cent of COE plus $5,000.

Phone number: +64 6584 2501 

Carro

Carro is a subsidiary of Genie Financial Services that specialises in used car loans with low-interest rates. They've sponsored over $350 million in loans and work with all of Singapore's main financial institutions, including DBS, OCBC, and Maybank.

They offer consumers loans with terms of up to 7 years and interest rates starting at 3.98 percent for same-day loan approval and full paperwork settlement.

Phone number: +65 6714 6652

SGDrivers

SGDrivers is a one-stop insurance agency with excellent after-sales service for all Singapore drivers. Breakdown help, accident aid, and unique automobile discounts are all available to members. They provide Used Car and COE loans with no hidden costs.

Phone number: +65 6100 1933

VinCar

Vincar, a 1989-founded car dealership, provides in-house finance for Used Cars, New Cars, COE Financing, Private Hire, and Expat Auto Loans. They strive to provide financial assistance and flexible loan packages with industry-competitive rates and quick approval times.

Phone number: +65 6473 1119  

Car Loan Providers (banks)

In the realm of automobile aspirations, OCBC, Maybank, UOB, and more stand ready to be your financial goals. These esteemed institutions extend their helping hand to make your car ownership dreams a reality. Explore the wide array of car loans in Singapore, considering the various options they provide. 

DBS Car Loan

Interest Rate: 2.28%, 

Minimum Loan: $10,000, 

Maximum Loan Tenure: 7 Years

Hong Leong Finance Car Loan

Interest Rate: 2.28%, 

Minimum Loan: $10,000, 

Maximum Loan Tenure: 7 Years

Maybank Car Loan

Interest Rate: 2.28%, 

Minimum Loan: $10,000, 

Maximum Loan Tenure: 7 Years 

OCBC Car Loan

Interest Rate: 2.28%, 

Minimum Loan: $15,000, 

Maximum Loan Tenure: 7 Years

Standard Chartered Auto Financing

Interest Rate: 2.28%, 

Minimum Loan: $10,000, 

Maximum Loan Tenure: 7 Years

UOB Car Loan

Interest Rate: 2.28%, 

Minimum Loan: $10,000, 

Maximum Loan Tenure: 7 Years

CAR LOAN PROVIDERS. COMPLETED ✅.

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