Dreaming of buying a new car, but don’t have the funds to make it happen? An affordable auto loan with manageable monthly payments is the solution.
Here at Loan Advisor, we take the hassle out of hunting for loans. Our calculator for car loans helps people just like you to compare the best vehicle loans in Singapore at the touch of a button.
The Biggest Benefits of Using Loan Advisor
From scouring the web for the best loans to getting your head around interest rate, repayment packages, and complex terms and conditions, finding the right vehicle loan isn’t always easy – but we think it should be. The key benefits of using our loan comparison service are:
Compare loans super-fast
Just fill in a simple form and we’ll send you the best quotes from top banks in Singapore.
Find the best loan quickly
Our loan comparison for car finance will help you better understand what you can afford and make smarter financial decisions.
Save valuable time
Save time which otherwise would have been wasted hunting high and low for the best deals. Let us do the legwork for you.
Enjoy faster approvals
Loan Advisor compares loans from top banks in Singapore.
Top Features of the Best Car Loans
The best car loans aren’t always easy to spot, but Loan Advisor will further put you in touch with the deals that best suit your circumstances. In most cases, the best car loans in Singapore will offer:
Attractive interest rates
Lower interest rates mean lower overall loan costs in the long run. Most banks offer rates of around 2.28% to 2.78%. We’ll accommodate you to find the best deal.
Tenures up to 7 years
It’s common for banks to offer loan periods of up to 7 years, but maybe you want to pay off your loan sooner? Tell us what you need, and we’ll hunt down the right loan.
Loan amounts up to 70% of a car’s value
Most banks offer a minimum loan amount of $10,000 to $20,000, but this isn’t always the case. Should you need lots of cash to purchase a new car, or a smaller loan to put towards a used car, you can rely on us.
Whether you need a longer loan tenure of up to 7 years, a better interest rate than 2.78%, or a fast application process, the best car loans can be tailored to suit you. Find out what’s available today!
Bank Comparison Table
Apply for Your Car Loan in 3 Easy Steps
Whether you need a car loan for 1 year or 7 years, for a new car or a used car, Loan Advisor can assist you to find the best loan today. Simply follow these 3 steps:
Step 1: Submit a short form
Tell us your loan amount, loan tenure, and interest rate requirements and hit send.
Step 2: Get your quotes
We’ll send you up to 3 low-interest rate car loan quotes for free.
Step 3: Sign your paperwork
Apply online then visit the chosen bank to sign your application.
Find the Best Car Loans in Singapore Today
Forget expensive credit cards and complicated car finance packages. Find a quick and easy car loan in minutes with Loan Advisor by comparing the best deals with the click of a button.
Why Find Your Car Loan with Loan Advisor?
If you’re confused about car loans and want to compare the best interest rate, tenures, and information from top banks in Singapore, you landed on the right loan comparison site.
Loan Advisor gathers the best auto loan quotes, so you don’t have to. Want to beat that 2.78% average rate? Want a fast car loan for up to 7 years? We have a reputation as one of the best loan comparison sites in Singapore. Don’t just take our words for it, check out our clients’ reviews.
How to Choose the Best Car Loan
Whether you need a loan to help purchase a new automobile, or you’re looking for quick finance to put toward used cars or a truck, you need to know how to spot the best deals. Here are our top tips on what to look for:
- Interest rates of 2.78% or less
- Flexible tenures up to 7 years
- Customizable loan amounts
- Fast applications and approvals
Frequently Asked Questions
Still unsure about car loans? Here are some FAQs to help you make smarter financial decisions.
Singaporeans can get four different types of car loan, which are:
- New car loans (1 to 7 years)
- Loans for used cars (tenures depend on car’s age)
- Commercial car loans (for commercial vehicles only)
- Car loan refinancing (i.e. switching deal for lower loan interest)
If your new vehicle or used car’s purchase price is $20,000 or less, you can borrow up to 70% of the car’s Open Market Value (OMV). If the car is worth more than $20,000, you can borrow up to 60%.
What documents are required for a car loan in Singapore?
Ordinarily, you will need to provide:
- A loan application form
- Proof of income
- NRIC information
- A vehicle sales agreement
Interest rates typically sit around 2.78% or less – but it’s easy to get a better deal by shopping around. Early repayment fees of 1% of the total financed amount and/or late fees of 3-5% p.a. may also apply.
Loan Advisor’s comparison service will give you all the information you need to compare the best loans in minutes.
Yes – this can also help you figure out how much you can afford and what your monthly payment might look like in advance.
In most cases, you will need to pay from 30 to 40% of a car’s purchase price upfront, depending on the car’s value.
This will depend on the type of loan you choose.
You should compare the best auto loans in terms of interest rates, monthly repayments, fees, and charges. Before applying, you should ensure you are a Singaporean citizen or permanent resident and at least 21 years old. Ideally, it will be easier to get a loan if you have a good credit score and are up to date with your credit cards, too.
The standard process looks like this:
- Step 1 – Fill out a loan application form
- Step 2 – Receive conditional approval within 5 days
- Step 3 – Provide supporting documentation
- Step 4 – Sign your paperwork
- Step 5 – Order/collect your car and start making your repayments
Yes, although you might only be eligible for lower loan amounts and higher interest rates under rights reserved by individual banks.
The best deals change on a daily basis, so carry out a comparison car loan search with Loan Advisor today for up to date quotes.
Whether you need a loan for 1 year or 7 years, Loan Advisor’s car loan comparison in Singapore can find you a great deal with low loan interest today. Try it out now