Car ownership in Singapore can be a complicated affair. However, a car lease let's 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.
Purchasing a car in Singapore requires you to pay a 30% or 40% cash downpayment. 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.
No Risks 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 a car lease, 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 equitiy often arises when your unpaid loan amount with interest is higher than the actual value of your car. This is usually the result of asset depreciation or other unforeseen circumstances. A car lease 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.
Full Service Lease
The Full Service Lease is our flagship car lease programme that allows you to drive a car for an agreed period of time and at a fixed monthly rate that also covers most common costs associated with the ownership of a car.
Brand-new vehicles of any make and model can be leased for between 12 and 84 months, depending on your needs. Used cars in our fleet can be leased from 1 month or longer and is subject to the current availability.
Benefits of the Full Service Lease
The monthly lease rate quoted for the car of your choice and contract period also include the following:
- Comprehensive Motor Insurance
- Personal Accident Insurance (PAI) cover
- Liability Reduction Cover (Loss/Damage Cover)
- Annual Vehicle Road Tax
- Full vehicle Maintenance & servicing throughout the contract
- 24-hour Customer Care Centre with roadside assistance service for Singapore
- Tires, batteries and other wear & tear replacements
- Mandatory LTA vehicle inspection costs
- A replacement vehicle during scheduled maintenance service and repair
- On location vehicle pick-up and exchange service applicable for all servicing, repair needs, mandatory vehicle inspections and in the event of an accident
- Unlimited mileage usage
- Usage in West Malaysia permitted
The Full Service Lease also allows you to enjoy a complete peace of mind because our dedicated team of fleet managers will handle the day-to-day administrative tasks that usually comes when driving a car in Singapore, such as:
- Traffic offence handling
- Insurance claims
- Road tax renewal
Short Term Lease
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 Rentals are chargeable by daily rates as provided in our Spot Rental Tariff. An excess liability for loss damage collision is applicable for each rental. Additional personal accident insurance (PAI) can be purchased at a small premium.