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What We Do
Hire Purchase Loan
Our Hire Purchase Loan is a flexible financing solution that allows you to own a vehicle while paying for it in manageable monthly instalments. Under this agreement, we finance the purchase of your vehicle, and you gain full ownership upon completion of the loan. We offer in-house financing for new and pre-owned buses, light-weight commercial vehicles, passenger vehicles and COE renewals for either 5 or 10 years.
Key Features:
Our services cater to:
Passenger Vehicle Owners
Commercial Vehicle Owners
Private Bus
Operators
Transport and Charter Service Providers
School Transport Businesses
With our in-house approval process, we offer quicker turnaround times and personalised service – helping businesses and individuals secure the vehicles they need with confidence and clarity.
Please refer to FAQs below for your loan queries or simply reach out us during our office hours.
*All loan applications are subject to our loan assessment and fulfilment of our eligibility criteria prior to loan approval.
Motor Insurance
We work with insurance agents to offer your end comprehensive motor insurance coverage tailored to the needs of commercial vehicle owners, bus owners and individual passenger vehicle owners. Whether you operate a single vehicle or a fleet, our insurance solutions help protect you and your business against the following:
Unforeseen
Accidents
Third Party
Liabilities
Vehicle
Damages
Let us assist you in finding a motor insurance plan that suits your operational needs and budget.
FAQs
What is the maximum loan amount?
Commercial Vehicles:
- New: Up to 90% of purchase price or valuation (whichever is lower)
- Pre-Owned: Up to 80% of purchase price or valuation (whichever is lower)
Passenger Vehicles
- OMV ≤ $20,000: Up to 70% of purchase price or valuation (whichever is lower)
- OMV > $20,000: Up to 60% of purchase price or valuation (whichever is lower)
COE Renewal
- Up to 100% of COE renewal cost
What is the maximum loan tenure?
For Commercial Vehicles and Passenger Vehicles (Within 10 years)
- Up to 7 years, subject to age of vehicle + loan tenure ≤ 9 years
For Commercial Vehicles and Passenger Vehicles (More than 10 years within 20 years)
- Up to 5 years, subject to age of vehicle + loan tenure ≤ 19 years
For COE Renewal
- 5 years COE renewal – Up to 4 years, subject to age of vehicle + loan tenure ≤ 19 years
- 10 years COE renewal – Up to 7 years, subject to age + loan tenure ≤ 17 years
How is the loan interest computed?
Loan interest is calculated on a flat rate basis, applied to the approved loan amount over the agreed loan tenure.
What are the eligibility criteria to apply for an In-House Loan?
- Singaporeans and Singapore Permanant Residents
- Age 21 and above
- Proof of assessable monthly income (e.g. latest 6 months’ payslips and CPF contributions, or 2 years’ Notice of Assessment)
What if I don’t meet the eligibility criteria or have special loan requests (e.g. higher loan amount, longer tenure)?
We understand that financing needs can vary. Requests that fall outside our standard guidelines will be assessed on a case-by-case basis and may be subject to:
- Additional interest rates and/or administrative fees
- The requirement of a guarantor
