You might wonder why Singapore has the highest automobile ownership costs globally. The explanation is straightforward: due to Singapore’s small size and constrained space, the local government is required to regulate the number of cars on the roads. Traffic would be chaotic and congested if they didn’t do this.
People in Singapore rarely lease a car because the country’s public transportation system is so advanced and cutting edge. Nearly every location on the island is accessible via the public bus and metro systems. Going on a family vacation or perhaps taking a road trip to Malaysia is one of the main reasons people would rent a car.
Leasing a vehicle can be simply defined as “the use of a car or vehicle for a certain amount of time at an agreed amount of money”. One of the best ways to get the car of your dreams without shelling out a lot of cash is to lease one.
Around 130 different businesses provide car leasing in Singapore. You can be certain that there is a wide range of options, meaning you can pick from a huge selection of models and car services. Choosing a car to drive will undoubtedly be difficult for you.
When choosing a vehicle to lease in Singapore, you need to make sure that you do the following:
- Aware of your transportation requirements is a must.
- Select your budget.
- Never accept the first offer you come across. Make sure to compare all of the offers that various car leasing companies have made to you.
- Verify the capabilities and potential of your car by giving it a thorough inspection.
What are the typical car leasing costs in Singapore, you might wonder? A typical sedan, like the Mitsubishi Lancer, may cost around $70 per day. Prices for hatchbacks like the Honda Jazz can run about $80 per day. Considering the typical range, which is between $100 and $120 per day, these rates are quite affordable.
However, many individuals will reflect on their choice to lease a vehicle in Singapore. Some people believe that purchasing your own car in Singapore, retaining ownership of it, and using it as much as necessary is a much more efficient and effective option. This, however, can be a significant financial and time commitment.
The fundamentals of car leasing in Singapore should be familiar to you by this point. But you might still be unsure if you ought to do that for yourself. We can examine a few factors that make leasing a car significantly more appealing than buying one. Car hiring gives:
- You have a lot of flexibility in choosing whether to lease a car for 1, 3, 5, or 7 years. This implies that you can reserve your substantial savings for another purpose.
- complete financial control – renting a car can be very affordable. There aren’t any additional costs for upkeep or repairs, and you don’t have to worry about road tax or auto insurance. The leasing company is responsible for all of this.
- You won’t ever get tired of driving the same vehicle because new models are constantly being introduced to the market, featuring the newest technologies and designs. If you purchase a car, you will typically have to wait between 5 and 10 years before you can obtain a brand-new vehicle.
- If your car breaks down or if you get into an accident. The leasing company will offer any assistance that is required, as you might have guessed.
You should now have enough knowledge about Singaporean car leasing, I hope. You will be equipped with the knowledge you need to select the best option for yourself should you decide to visit or reside in the Lion City so that you can benefit from transportation in the most effective way possible.
