Getting a Car Loan?
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Frequently Ask Questions
MAS Notice 642 Motor Vehicle Loans permits customers to a loan of up to 70% of the car purchase price if the OMV is lower than or equal to S$20,000. If the OMV is higher than $20,000, customers can take a loan of up to 60% of the car purchase price.
Choice of loan tenor from 1 year to 7 years.
Loan amount is pegged to the Open Market Value (OMV)
Open market value# Maximum Finance Amount
≤ S$20,000 70% of the purchase price or valuation price, whichever is lower
> S$20,000 60% of the purchase price or valuation price, whichever is lower
Loan approval can take between 1-2 days after we received all necessary documents from you.
You must be a Singapore Citizen or Singapore Permanent Resident and at least 21 years old
A local guarantor is required if a non-resident individual wishes to apply for a loan
The following documents are required:
– For New Passenger Vehicle: Sales/Purchase Order from supplier
– For Used Passenger Vehicle: Copy of Registration/COE Card
– Latest Income Documents (Income Tax Notice of Assessment, IR8A Form, pay slip, etc.)
– Photocopy of identity card/passport
We create value to our customer by working with 6 banks and 7 finance companies, coming to us meaning comparing and getting the most competitive interest rate from 6 banks and 7 finance companies.
We do not charge any admin fee for normal loan application. However depending on the quantum of the car loan a Bank fee might apply.
Start by sending us your loan from
Once we received your loan form we will proceed with your loan application.
Yes, we are able to provide car loan for companies as well. May it be a company Car, Van or Lorry, we are able to provide the loan.