Is your business in need of vehicles for transportation? Or are you an individual looking to own a car in Singapore? Whether you are looking for a fleet of vehicles for your catering, delivery, or cleaning business, or just an individual looking for a car, getting an auto loan or in-house car loan in Singapore can be a great help to fund your purchase.
To put it simply, auto financing is a category of loans provided by banks or private financial institutions to help borrowers fund their car or other vehicle purchase.
In Singapore, it is not uncommon for most car buyers to take up car loans since the cost of driving is so high. The COE alone makes up the majority of the cost of owning a car. Auto financing allows one to break up the costs of the purchased vehicle into smaller and more manageable monthly instalments. This certainly helps make vehicle ownership a more attainable goal to many.
And, if you are a business owner, getting a hire purchase loan to finance the purchase of your company’s vehicles makes good sense. It saves you from having to come up with a large sum of money which may otherwise be used to capitalise on other business opportunities. However, securing such loans from banks is not always a walk in the park, more so if you are an SME or young start-up. Lengthy application and stringent criteria aside, you also run the risks of your applications being rejected. Well, there are always alternatives to banks.
In Capitall, we are committed to help you in every step of the way in your auto financing journey. Our competitive and highly affordable loan rates designed with your needs in mind, coupled with a simple and hassle-free loan application process as well as an efficient approval rate is set to allow you to drive away your vehicle(s) of choice in no time.