Car prices have reached an all-time high in recent times. While new car prices are propped up by the incredulous COE pricing, used cars prices have also increased in line with what their brand new counterparts are going for.
However, if you are in the market for a used car, there are a few ways to keep costs down. Firstly, you should consider older cars, such as the ones with just a couple years of COE left, or COE renewed cars that tend to go for lower prices. Secondly, with such a substantial purchase, chances are you'll need to take out a loan - this is where you can get major savings with the right move!
Sgcarmart Smart Loan
Sgcarmart Smart Loan is designed to help you save time and money by offering you a car loan at the lowest possible interest rate in the market - you can find out exactly how much you save with the handy calculator on the Smart Loan website! With the support of a dedicated team, you are ensured of an easy and seamless process as well.
With the use of MyInfo, the Smart Loan application is a fully-digitalised process - all information required is retrieved by logging into your SingPass account. And the best part of this digitalised process is its speed - Sgcarmart Financial Services will get in touch with you on your application outcome by the next working day. Once you have the loan approval, you can then head down to the car dealer or direct seller to negotiate the deal for your new car.
The process might sound a little confusing if you are unfamiliar, but it is rather simple. With the loan approval, Sgcarmart Financial Services will release the money to the seller after they submit the appropriate documentation - to the seller, it is akin to you purchasing the car without taking out a loan (your loan arrangement is direct with Sgcarmart Financial Services, allowing you to save plenty!).
The best loan deal is now available for COE cars as well!
Sgcarmart Smart Loan was originally only available for the purchase of PARF cars (used cars within their first COE cycle). It is available for both private car owners and those who are looking to use their cars to offer private-hire services.
However, looking to serve a wider range of car buyers, Sgcarmart Smart Loan is now extended towards buyers of used COE-renewed cars as well.
As COE-renewed cars tend to be older, these cars are often available at lower prices as well. These cars will also be likely to have a longer COE term left. All these mean that you'll be able to get an affordable car with lower monthly payments (as the maximum loan tenure is longer than if you have opted for a PARF car with just a couple years of COE left).
Smart Loan passes on savings and benefits directly to you - the customer
Sgcarmart understands the needs and requirements of car buyers, and Smart Loan is specially created to allow you to save money when purchasing a car, while still enjoying quality services from a dedicated support team.
Smart Loan operates on a direct-to-consumer model - by offering the loan directly to you, the car buyer, the process is simplified and savings are made. These savings are then passed on to you in the form of the lowest interest rate you can find in the market.
When purchasing a used car from a dealer, there might be administrative fees and other costs involved. You could use the Sgcarmart Smart Loan calculator to find out the definitive amount of savings that you'll enjoy and negotiate for a deal that will allow you to snag the car you want while enjoying maximum savings.
With Sgcarmart Connect, you can also purchase a used car from a direct owner seller with Sgcarmart Smart Loan. By doing so, you could reap the benefit of buying from a direct owner (which tends to be cheaper), without having to deal with complicated administrative matters - Sgcarmart Connect will handle it for a small fee.
With a dedicated support team, and backed by Sgcarmart Financial Services, Smart Loan will allow you to get the car you want at the lowest cost and with the least hassle. Once the approval has been given, you can be assured of the loan, and shop for your car with peace of mind - there’s no need to worry about falling in love with the car but end up failing to secure a loan for it.
Want to buy your car with Sgcarmart Smart Loan? Check out these used cars right now! When shopping for a used car on Sgcarmart, simply click on the 'Financial' tab and click the button to apply for an Sgcarmart Smart Loan. It's that simple.
