Obtain the latest auto loan interest levels for Singapore on MoneySmart.sg. Observe how car and truck loans compares against other banks and use instantly online.
Just how do I get yourself auto loan?
Trying to get a auto loan at a bank/financial organization could be the usual path that many purchasers would just just take, even if you should be investing in a hand car that is second. You can even make an application for an in home loan with cardealerships, and these have actually varying conditions so it’s better to seek the advice of the dealership on thosedetails.
Simply how much could I loan from the bank?
This quantum is quite much determined by the OMV (Open Market Value) associated with the automobile you arepurchasing. The regulation used is the fact that in case your vehicles OMV is $20,000 and below, it is possible to qualifyfor that loan as high as 60per cent regarding the price (like the COE and associated fees). In the event the OMV is above $20,000, them the mortgage quantity will likely be 50% of the cost (includingthe COE and related fees). The remainder cost needs to be raised in money.
Do i must seek out my very own vehicle insurance coverage?
In some instances, the dealership you may be buying the vehicle off will include solutions that assist youin obtaining auto insurance. They’ll often suggest these products that really work because of the many orhave commercial agreements with.