Leasing a car in Singapore is easy. You choose a car, drive it for a contractual period (anywhere between one and five years or longer), and you pay a monthly fee for it. However, the car is never yours. You can never sell it to “cut” the running costs of the car you’ve paid over the years.
A lease-to-own plan provides drivers with a structured path to car ownership in Singapore without the hefty down payment of vehicle financing, and it doesn’t affect your Total Debt Servicing Ratio (TDSR).
So, how does this ‘drive now, own later’ scheme work? At the end of the lease contract, you have the choice of buying the rental car at a special rate or returning it to the car leasing company.
Which car leasing companies can you trust? Read on to find out!
Kinto Singapore Pte Ltd
Lease a Toyota or Lexus from KINTO Singapore Pte Ltd with a fixed and transparent monthly price. The flat rate with a minimum commitment of one year and a $0 prepayment includes all vehicle maintenance costs, repair costs, comprehensive auto insurance, annual road tax and unlimited mileage, in addition to 24/7 roadside assistance.
Renters can buy the car back at any time within the lease term at the repurchase price (quoted price when it was leased), allowing them to beat COE inflation and still get a brand new vehicle.
Other benefits of Kinto One’s buyback program:
Monthly Free Concierge Service
Unlimited access to exclusive co-working space
Address: 22 Sin Ming Lane #01-77 Midview City, Singapore (573969)
Hours: 8:00am – 7:00pm (Mon – Sat) 10:00am – 2:00pm (Sun)
Contact number(s): 9627 4356
Hertz Lite is a great way to drive a brand new car without high Hertz Singapore bills. This short lease program only requires a low $10,000 upfront payment, does not affect your TDSR with flexible lease terms and includes road tax, insurance and maintenance!
Designed with flexibility in mind, Hertz Lite offers a shorter lease term to the market for a brand new car. You can choose your lock-in lease term of 18, 24, 36 or 60 months. It is an emerging leasing program that combines both the extended lease and lease-to-own business model.
You can choose to own the car, renew the lease or even switch to a new car after the lock-in lease period – it’s all up to you.
Address: 305 Alexandra Road #03-01 Vantage Automotive Centre, Singapore (159942)
Opening hours: 8:30 AM – 6:00 PM (Mon – Fri)
Contact number(s): 8125 0410 / 8533 7217 / 8533 7216 / 8223 0457
Dickson Auto Solution Pte Ltd
Driving your dream car will no longer be a dream at Dickson Auto Solution Pte Ltd as the lease-to-own scheme allows you to drive a brand new car of your choice (Distributor or Parallel Import models) without any deposit and you can buy the car later, with no profit margins.
Based on your preferred period, Dickson Group will work out a reasonable monthly lease fee, making your dream a reality.
Here are additional benefits of his lease-to-own arrangement:
Free inspection and extended warranty
Fixed low monthly amount
Maintain your existing NCD and build NCD as you drive
Delivery within three days
Hassle-free 24/7 emergency and roadside assistance from the new 15-bay Service Center – Dickson Auto Care Center
Address: 29 Ubi Road 4 Dickson Auto Centre, Singapore (408619)
Opening hours: 10:00 – 19:00 (Mon – Fri) 11:00 – 18:00 (Sat & Sun)
Contact number(s): 8161 7640 / 6668 1166
Car Times Auto-Rent Pte Ltd
SWITCH by CarTimes Auto-Rent Pte Ltd is a flexible car lease and purchase program. The scheme starts with a three-year lease plan with a minimum commitment of one year.
You pay a minimum prepayment of $1000, which includes insurance, road tax, service and maintenance. Once you have completed the minimum commitment period of one year, you will have the option to buy, sell, return or exchange vehicles during the program.
The special thing about this plan is that you can buy the car at Car Times at the price stated on the lease contract. The price does not change after the lease contract expires, even if the COE rises or falls. If you can sell the car to another party, Car Times will handle the transaction and any excess (amount exceeding the contract price) will be given to you.
Address: 73 Mackenzie Road Level 2 Lot 3/4 Mackenzie Car Mall, Singapore (228729)
Opening hours: 9am – 6pm (Mon – Fri)
Contact number(s): 6464 5111 / 8811 6616 / 8282 5111
Carz World Pte Ltd
If you’re a Singaporean or PR who wants to own a new car but won’t pay that insane 30 to 40 percent prepayment, Carz World Pte Ltd (Rental & Leasing) is your answer.
The standard minimum commitment is one year with a $2000 upfront payment, which includes insurance, road tax, service and maintenance. After that one year, the renter can buy the car, lease another car, refinance the car at Carz World at the applicable rate or even pay for the car in full without a loan!
Address: 33 Ubi Avenue 3 #01-57/58 Vertex, Singapore (408868)
Opening hours: 10:00 – 19:00 (Mon – Sat) 11:00 – 19:00 (Sun)
Contact number(s): 9178 6185 / 6570 9482