Car loans offer a practical solution for individuals who wish to own a vehicle without the burden of paying the full amount upfront. By spreading the cost over a fixed period, borrowers can manage their finances more effectively while enjoying the convenience of personal transportation. This financial tool is especially beneficial in urban environments where reliable mobility is essential for daily activities. In Singapore, where the cost of car ownership is relatively high due to taxes and certificates of entitlement, car loans provide a much-needed avenue for affordability. Fortunately, there are several reliable car loan options available in the country. These options cater to a wide range of financial situations and preferences, allowing prospective car owners to choose terms that best suit their needs. With careful planning and responsible borrowing, car loans can significantly ease the path to vehicle ownership in Singapore. Here are nine of the best car loans in Singapore that are ideal for different types of borrowers.
Note: This list is strictly not in order.
1. SG Cash N Cars
SG Cash N Cars offers a comprehensive range of vehicle financing solutions, including new and used car loans, COE renewal loans, and refinancing options. They cater to both private and commercial vehicle owners, even those without traditional income documentation. Known for their personalised service and flexibility, they work with multiple banks and financial institutions to secure competitive rates. Their expertise extends to handling paperwork, ownership transfers, and insurance, making them a one-stop solution for car ownership needs. SG Cash N Cars also provides advisory services to help customers make informed decisions, especially regarding COE renewals. Their customer-centric approach and proven track record make them a trusted partner for car loans in Singapore.
Customer Reviews:
George Chew
I had an excellent experience with Robin and Jasmine. They were professional, knowledgeable, and incredibly patient in answering all my questions. The process was seamless, and they made sure I understood every step along the way. Their attention to detail and commitment to finding the best solution for my needs were truly impressive. Thank you for your outstanding service!
Eric Teo
Very good COE renewal help, all areas well explained and clarified so I had confidence in successfully renewing with their help securing a COE renewal loan. They allow many options for car insurance and they found me one that is lower than my old insurer.
Mattew Yap
Thankful for Robin & Jasmine for so patiently guiding and explaining to me the whole process of the refinancing. They even go down to the bank branch with me to oversee the whole process. Appreciate their effort for expediting the process for me too. Highly recommended if you are looking for car conversion or refinancing services. Fast responses from them too. You can certainly count on their expertise in the process. They will guide you through every details. 😊👍
Website: https://www.sgcashncars.com/
Contact: 9278 2880
Location: 11 Sin Ming Road Thomson V Two, #B3-09 Unit 1, Singapore 575629
Opening Hours: Monday – Friday 10 AM – 6 PM | Closed on Saturday & Sunday
2. SGDrivers
SGDrivers provides a holistic car ownership experience through its car loan and insurance services, tailored to meet the needs of individual drivers. They offer both bank and in-house financing options with competitive interest rates, ensuring affordability and flexibility. SGDrivers is known for its 24/7 support and exclusive membership benefits, which include discounts on servicing, grooming, and insurance. Their Direct Deal Assist service simplifies the car buying and selling process by managing paperwork and transactions. With a strong reputation for reliability and customer satisfaction, SGDrivers positions itself as a dependable partner for car financing and ownership support in Singapore.
Customer Reviews:
Kamsani Masjore
I recently renewed my car COE assisted by SGdriver’s staff Ms Pei Ling. She was extremely friendly and helpful lady. Pei Ling made the whole process of renewal of my car COE easy and hassle-free. I truly appreciated her professionalism and honest advice. Thank you for your excellent service!
Ryan Lieu
I’ve been with SgDrivers since I first started driving, and they’ve consistently delivered excellent service. Their team is highly efficient—handling everything from policy renewals to queries with professionalism and speed. I’ve had a smooth and worry-free experience with them and would definitely recommend SgDriver to any driver looking for reliable car insurance.
Ganesan Bala
SG Drivers are Very experience in their services. Approach Miss Pei Ling for assistance with my refinancing of my vehicle which had some complications but she managed to do it with ease and keep me constantly updated on what happening and also gave me few advices on how to proceed, really appreciate all her help. Without her assistance I would be struggling, thanks so much miss ling for all the help rendered. Kudos to you and your lovely team. 🙏🏽
Website: https://www.sgdrivers.com.sg/
Contact: 6100 1967
Location: 170 Upper Bukit Timah Rd, #15-02, Singapore 588179
Opening Hours: Monday – Friday 9:30 AM – 6:30 PM | Closed on Saturday & Sunday
3. Motorist Singapore
Motorist Singapore is a digital automotive platform that simplifies car ownership through a suite of services, including car loans, insurance, COE renewal, and paperwork assistance. Their car loan calculator allows users to compare interest rates and monthly instalments from various banks and financial institutions. Motorist offers both bank and in-house financing options, catering to a wide range of budgets and vehicle types. Their platform is designed for convenience, enabling users to manage their vehicle-related needs in one place. With a focus on transparency and ease of use, Motorist Singapore is a popular choice for those seeking efficient and informed car financing solutions.
Customer Reviews:
Eddy Ye
Fai help me to renew my COE loan and also took the effort to source for another financial institution to refinance the loan for another car of mine. Highly recommended!
Kenny Chai
This is my first using motorist platform for my vehicle loan, it was smooth process and great experience. Thanks.
Chris Ong
Fast and efficient, just within few days and got the loan approved. Thank you for the excellent service.
Website: https://www.motorist.sg/
Contact: 6589 8800
Location: 12 Tai Seng Link, #06-02, Singapore 534233
Opening Hours: Daily 10 AM – 6 PM
4. Speed Credit Pte Ltd
Speed Credit is one of Singapore’s most established and highly rated car financing companies, offering a wide array of loan services including new and used car loans, COE renewal loans, refinancing, and in-house financing. With over 50 years of combined industry experience and a high approval rate, they are known for their fast processing and competitive interest rates starting from 2.48%. Speed Credit caters to individuals with varying credit backgrounds and provides tailored solutions for private, commercial, and PHV vehicles. Their customer-first approach, extensive lender network, and transparent processes make them a leading choice for the best car loans in Singapore.
Customer Reviews:
Jimmy Fang
I was amazed by the review of Hui Ying from Speed Credit and thus I specially went down to look for her to process my car loan despite I stay at pioneer. Indeed, she is very knowledgeable and quick. Every information was clear and transparent. A gem for the company I would say. I would compliment her for her service rendered. I will refer friends to Speed Credit. Thanks.
Julian Franzman
Excellent service! Hui Ying was very responsive during the process proving very clear instructions. Highly recommend Speed Credit for car loans. Very competitive rate and choice of lender!
Yeo Chee Kian
I was very impressed & satisfied with Hui Ying of Speed Credit in handling everything for my used car purchase like a one-stop service from getting my car loan , my car insurance policy cover at a very competitive rate in the market and also assist in the online transfer of ownership with LTA. Speed Credit was also proactive in getting all these approvals done in the shortest possible time (4 days to obtain approval from my car loan application, 2 days to obtain approval for my car insurance). Good job!!👍👍
Website: https://www.speedcredit.com.sg/
Contact: 6444 4400
Location: 50 Ubi Ave 3, #01-01/02, Singapore 408866
Opening Hours: Monday – Friday 9 AM – 6 PM | Closed on Saturday & Sunday
5. Capitall Auto Financing
Capitall Auto Financing specialises in providing quick and affordable car loans for both individuals and businesses. Their services include hire purchase loans, in-house financing, and fleet financing for SMEs. Capitall is known for its simple application process, minimal paperwork, and fast approval, often within one business day. They offer competitive interest rates and flexible repayment plans tailored to the borrower’s financial situation. Whether for personal use or business expansion, Capitall’s financing solutions are designed to make vehicle ownership more accessible. Their commitment to customer service and efficiency has made them a trusted name in Singapore’s auto financing sector.
Customer Reviews:
Ezekiel Ng
Quickest i had to get an update for my vehicle loan. Replies are quick and friendly too! Compliments to Esabel for assisting!
Loh Wen Jie
Fast & Quick loan approval. They are very helpful and handle your case with much urgency. Knowing that I need a bike out for my delivery work ASAP, CAF really cater to my requests. Kudos!!
Hafiz
Jenny chian is so good with her service… explain to me about then bike loan clearly… n always keep updating me until the end of process… keep the good work… will recomend my friend nxt tym… thankx jenny.
Website: https://capitall.com.sg/
Contact: 6333 6000
Location: Tower A Tai Seng Exchange, 1 Tai Seng Ave #04-10, Singapore 536464
Opening Hours: Monday – Friday 9 AM – 6 PM
6. Sgcarmart Financial Services
SGcarmart Financial Services offers a fully digital car loan experience through its Smart Loan platform, which provides below-market interest rates and a streamlined online application process. Designed to support both car buyers and dealers, the service simplifies financing for used vehicles and includes perks such as cashback and membership benefits. SGcarmart also provides a loan calculator and comparison tools to help users make informed decisions. Their direct-to-consumer model allows for lower costs and faster approvals, making them a convenient and cost-effective option for car financing in Singapore.
Customer Reviews:
Mike Yong
Ms Boon Lin is very helpful and help us secure a good loan with Toyota finance. Thank you so much. Appreciate it.
Cherin Lim
So glad it was Boon Lin who assisted us for our car loan! It was a difficult case as car is over ten years and our dealer was slack. Boon Lin was there to assist and answer all our questions, and he even called back while on leave. Really appreciate it, u can trust that your transaction is in good hands!
Stewart Sim
I received a very fast response from Ms Malanie of Sgcarmart Financial Services when I clicked to express my interest in their service. She had helped me to expedite my loan application as I was already almost to decide on the car I wanted to buy, and the loan approval was timely to help me quickly make my decision. Ms Malanie followed up, and everything was smooth and without any issues. Thank you to her great job for my car loan, I bought the car I wanted.
Website: https://www.sgcarmart.com/
Contact: —
Location: 151 Lor Chuan, New Tech Park Lobby D, #04-04, Singapore 556741
Opening Hours: Monday – Friday 10 AM – 6:30 PM | Closed on Saturday & Sunday
7. Teck Wei Credit Pte Ltd
Teck Wei Credit is a long-standing auto finance provider in Singapore, offering both bank and in-house car loans with fast approval, often within an hour. They provide financing for individuals and dealers, including up to 90% of a vehicle’s value. Known for their speed, transparency, and competitive rates, Teck Wei Credit also supports EV financing with promotional interest rates. Their digital application process via MyInfo simplifies the paperwork, and their reputation for responsive service makes them a reliable choice for those seeking efficient and flexible car loan solutions.
Customer Reviews:
Alan Ng
Friendly staffs. Prompt replies whenever you have queries. Recommended to all. Special shout out to Joyce who have been attentive and helpful when i needed help with my car loan. 5⭐️
Rom J
Tect wei finance is very good to deal with. Staff very helpful and nice. Overall, Teck Wei Credit is a reputable financial services company that can help you finance your dream car or get the insurance you need. If you are looking for an auto loan or insurance, I recommend getting a quote from Teck Wei Credit.
Chen Zhiwen
Gotten my car loan from them. During birthday month, they send voucher for appreciation. A good relationship goes a long way 👍
Website: https://www.teckwei.com.sg/
Contact: 6465 0020
Location: The Alexcier, 237 Alexandra Rd, #02-09/10/11, Singapore 159929
Opening Hours: Monday – Friday 9:30 AM – 6 PM | Closed on Saturday & Sunday
8. Swee Seng Credit
Swee Seng Credit offers personalised car financing solutions for individuals and businesses, with a focus on flexibility and customer service. Their services include hire purchase loans, refinancing, and tailored repayment plans. With over 20 years of experience, they provide competitive interest rates and work closely with financial partners to deliver value to their clients. Swee Seng Credit is known for its responsive support and transparent processes, helping customers navigate the complexities of car ownership with ease. Their commitment to custom-tailored solutions makes them a dependable option for car loans in Singapore.
Customer Reviews:
Jun Hao
We have great experience with Swee Seng Credit, we took up their loan direct and the whole process was prompt, loan we got all approval swiftly. Their HP team was professional too. Once the loan started, we got whatsapp msg to remind us on payment. Thumbs up Swee Seng!
AL Otters
Very good experience and manage to refinance to reduce my monthly installment smoothly and positive attitude 👍🏼🤝
Mj Mj
The representative was friendly, and the process was swift and detail. Will always recommend to my friend.
Website: https://sweesengcredit.com/
Contact: 6466 3808
Location: Toh Guan Centre, 21 Toh Guan Rd E, #01-09, Singapore 608609
Opening Hours: Monday – Friday 9 AM – 6 PM | Closed on Saturday & Sunday
9. Tokyo Century Leasing Pte Ltd
Tokyo Century Leasing provides flexible car financing solutions through authorised dealers and agents, offering loan tenures ranging from 12 to 118 months. They cater to both new and used car buyers and offer customised packages based on individual financial profiles. Known for their transparent terms, competitive interest rates, and efficient approval process, Tokyo Century Leasing also supports online application tracking and payment management. Their services extend to commercial vehicle and equipment financing, making them a versatile partner for both personal and business vehicle needs in Singapore.
Customer Reviews:
Heng Tian Hou
I recently had the pleasure of working with Tokyo Century for my car financing needs, and I couldn’t be more impressed with their service. From the moment I walked in, their team was attentive, knowledgeable, and genuinely interested in helping me find the best solution. They made the entire process seamless and stress-free. The quality of their vehicles is top-notch, and their financing options were flexible and tailored to my needs. I highly recommend Tokyo Century to anyone in search of a reliable car and exceptional customer service. Thank you for exceeding my expectations!”
Tan Yeow Teck
I have been with Tokyo Century Leasing Pte Ltd for my last 3 cars loan financing. Smooth and hassle free transactions. Friendly and helpful staff handling my telephone queries when i wanted to check the status of my new loan application status and also old loan redemption status too. Useful loan calculator online and the amount is same as official loan documents. Thank you for the good services.
Christina Joseph
Had my car financed with Tokyo Century Leasing, and it was a very swift process. The team is efficient and so paper work got done very quickly and I did not face any hassle from this transaction. Payment is also very convenient with GIRO arrangement which I am thrilled about because I dont have to hunt down how to make payments.
Website: https://www.tcls.com.sg/
Contact: 6532 3436
Location: Manulife Tower, 8 Cross St, #09-04/05/06, Singapore 048424
Opening Hours: Monday – Friday 9 AM – 5:30 PM | Closed on Saturday & Sunday
Conclusion
Without a doubt, car loans serve as a valuable financial instrument for those seeking to own a vehicle without immediate full payment. They offer flexibility, convenience, and the opportunity to manage one’s budget more effectively. In a market like Singapore, where car ownership involves a considerable financial commitment, the availability of trustworthy car loan options is particularly advantageous. Whether you’re eyeing a brand-new vehicle from one of the best car dealerships or considering one of the many top-notch used cars in SG, these loans are structured to accommodate various income levels and repayment capacities, making them accessible to a broad spectrum of consumers. By selecting a reliable loan provider and understanding the terms thoroughly, individuals can make informed decisions that align with their financial goals. The presence of multiple dependable car loans in Singapore ensures that prospective buyers are not limited in their choices. Ultimately, with the right approach, car loans can transform the dream of owning a vehicle into a practical and achievable reality.