This is a common question from many expats living in Singapore. Cars in Singapore remain one of the most expensive purchases relative to other countries. Take a Toyota Camry 2.0L for example: while one can get it for S$31,000+ in the USA, drivers can expect to pay $150,000+ in Singapore.
The answer to whether you should buy or lease a car depends mainly on 3 questions:
1) Are you certain about your stay in Singapore for the long-term?
2) Do you need a bank loan for your vehicle / pay in full upfront?
3) How involved would you like to be in your car maintenance process?
If you foresee yourself leaving the country in the short-term or would prefer not to take a loan or are unsure if you do not want to spend too much time upkeeping your car, car leasing would be a great option for you. The extra dollar you pay is an investment in the services that would free up time for you and leave all your car worries to our experts at Avis!
The perks that car leasing bring include:
Shorter term commitment periods (6 months to 3 years car lease)
This allows you the flexibility to renew on an annually basis instead of having a car tied to your ownership. If your job presents opportunities to work overseas, you can negotiate with your company to put the car lease under the company’s name so another colleague may take over with ease when you are relocating.
No hefty down payment for car purchase
Getting a bank loan might not be preferable and coming up with a full sum for purchasing a car might not make sense for your cash flow. With car leasing at Avis, the outlays are 1 month deposit (refundable at end of contract) and 1 month leasing prepayment! Furthermore, the package includes road tax, car usage, unlimited mileage and many perks similar to car ownership.
More time freed up for you
Time is precious and with your time in Singapore, it can be a chore to settle all the time-consuming processes tied to car ownership:
1) Bidding for COE
2) Paying road tax
3) Buying a vehicle insurance
4) Servicing
5) Maintenance
6) VICOM inspection
7) Car sale at the end
With Avis Lease, these are within the car leasing package for expats and locals. The administrative processes are handled by us and for processes where we require your car to be taken to a workshop/ VICOM, a replacement vehicle will be provided to you while your car is away.
So, if you are looking to safe the extra buck, car ownership is great! However, if you would prefer to invest that extra time in family, work or your own hobbies, give Avis Lease a try and find out more about the many things you can enjoy.
Visit www.avis.com.sg/leasing for 6-months to 3 years car leasing deals.
For shorter monthly rentals, visit www.avis.com.sg/avisflex.
