Cars are some of the most expensive investments that you can make in Singapore, almost the cost of a small apartment or house. The high price tag is a result of the government’s response to the worsening of traffic congestion in the city-state. But you do not have to settle for a car that already needs a COE renewal loan in Singapore if you want a new car but cannot afford it outright.

You can look at different types of loans that may help you figure out how to get new or near-new cars. Here are a few examples you might want to consider.

  1. New car loan

Many places offer auto loans on new cars, especially if you have good credit. Used car loans in Singapore might be cheaper but you will not be able to enjoy your vehicle for much longer.

  1. Commercial car loan

If you own a business, then a commercial car loan in Singapore is the best option for you. Lorries, trucks, and other commercial vehicles help you get your business off the ground. You need a good one that can travel many kilometres.

  1. In-house car loan

An in-house car loan in Singapore is when you get a car loan directly from the company itself. Approval usually comes faster and you might have a better chance of getting your dream car.

  1. Secure auto loans

Most car loans are secured– meaning, if you fail to pay, you might lose possession of your vehicle. But most car dealers or finance companies are more willing to grant a secured car loan to buyers of new cars.

Swee Seng Credit can do anything when it comes to financing new and used cars. If you need help with car financing in Singapore, check out their contact details on their website and reach a representative.