Learn the basics of car leasing in Singapore

You may be wondering why Singapore has the highest cost of car ownership in the world. The reason is very simple: Since Singapore is a small country with limited space, the Singapore government must monitor the exact number of cars currently on the roads. If the government doesn’t do this, traffic will be in chaos and the roads will be filled with cars.

Since Singapore’s public transportation system is very well developed and modern, people don’t usually rent a car. The metro system and public buses can reach virtually anywhere on the island. One of the main reasons people would rent a car is for a family trip, or perhaps a road trip to Malaysia.

Leasing a vehicle can be simply defined as “the use of a car or vehicle for a certain period of time at an agreed amount of money.” Leasing a car can be one of the best ways to drive your dream car without spending a lot of money.

In Singapore there are around 130 different companies that offer car rental. You can be absolutely sure that there is a wide variety of options, which means that you can choose from a wide variety of car models and services. You will definitely have a hard time deciding on a vehicle to drive.

When choosing a vehicle to lease in Singapore, you must ensure that you do the following:

• Make sure you know your transportation needs

• Select your budget

• Don’t settle for the first offer you find. Please be sure to compare several different offers given to you by different car leasing companies.

• Inspect your vehicle and make sure of its capabilities and potential

You might be wondering, roughly what are the car leasing prices in Singapore? Well, a normal sedan, like a Mitsubishi Lancer, can cost around $70 a day. Prices for hatchbacks like the Honda Jazz can be as low as $80 a day. These are relatively cheap prices compared to the usual range, which is between $100 and $120 per day.

However, many people will question your decision to lease a car in Singapore. Some people think that it is much more efficient and effective to simply buy your own car in Singapore, be its sole owner and drive it as much as you need to. However, this can be relatively expensive and involved.

So, you should already know the basics about car leasing in Singapore. However, you are still not sure what to do yourself. Here are a few reasons why car leasing can be so much more profitable than buying:

• Lots of flexibility: You can choose to lease a car for a period of 1, 3, 5 or 7 years. This means you can reserve your big savings for something else.

• You are in full control of your budget – Car leasing can be very affordable. You do not have extra expenses for repairs or maintenance, do not worry about car insurance or road tax. All this is covered by the leasing company. There’s even in-house financing from the car dealer if you ever need it.

• You’ll never get bored of driving the same car: Since new cars are coming out with the latest technologies and newest designs, you’ll be able to drive some of the latest models on the market. If you buy a car, you will usually have to wait a period of 5 to 10 years to get your hands on a new car.

• Imagine that your vehicle breaks down, or maybe you have an accident. Guess what, the leasing company will provide the necessary assistance.

I hope this article has taught you enough about car leasing in Singapore. The next time you visit Lion City in Asia, you will have the knowledge to choose the best option for you and receive the privilege of transportation in the most optimal way for you.