Singapore Expats Forum

Negotiating company car. Leasing prices?

Discuss about car leasing and rental in Singapore.
User avatar
jezzman
Regular
Regular
Posts: 98
Joined: Thu, 01 Mar 2007
Location: Jurong West
Contact:

Negotiating company car. Leasing prices?

Postby jezzman » Wed, 07 Mar 2007 5:29 pm

I'm going to be negotiating about my contract soon and I know that one of the main points will be the company car.

I've asked for a VW Passat 1,9 TDI, but I have NO idea about what a new or used car like the Passat will cost our local company a month in leasing... can anyone help me with info. on that? The info. will come in really handy so your help will be highly appreciated :)
Me, fail English?
But nooo, that's unpossible....

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Re: Negotiating company car. Leasing prices?

Postby ksl » Wed, 07 Mar 2007 5:45 pm

jezzman wrote:I'm going to be negotiating about my contract soon and I know that one of the main points will be the company car.

I've asked for a VW Passat 1,9 TDI, but I have NO idea about what a new or used car like the Passat will cost our local company a month in leasing... can anyone help me with info. on that? The info. will come in really handy so your help will be highly appreciated :)




or wait for one of the moderators to help out, there should be links on this forum, to car leasing, although I haven't found it yet!

Heres another thead on our forum, you can insert car leasing in the search box to find more!

http://classifieds.singaporeexpats.com/ ... 190/cat/17

User avatar
jezzman
Regular
Regular
Posts: 98
Joined: Thu, 01 Mar 2007
Location: Jurong West
Contact:

Re: Negotiating company car. Leasing prices?

Postby jezzman » Wed, 07 Mar 2007 6:05 pm

ksl wrote:
jezzman wrote:I'm going to be negotiating about my contract soon and I know that one of the main points will be the company car.

I've asked for a VW Passat 1,9 TDI, but I have NO idea about what a new or used car like the Passat will cost our local company a month in leasing... can anyone help me with info. on that? The info. will come in really handy so your help will be highly appreciated :)




or wait for one of the moderators to help out, there should be links on this forum, to car leasing, although I haven't found it yet!

Heres another thead on our forum, you can insert car leasing in the search box to find more!

http://classifieds.singaporeexpats.com/ ... 190/cat/17


I've already done several searches and haven't really found an answer I can use.

As further info. I can say, that I'm not going to lease this car. The company I'm going to work is going to lease it and it their cost of the leasing (approximate) that I would like to know. Once I know what the cost for the company will be that'll give me a better base for my salary negotiating etc...
Me, fail English?

But nooo, that's unpossible....

User avatar
ScoobyDoes
Manager
Manager
Posts: 1664
Joined: Wed, 29 Nov 2006
Location: A More Lucky Spot

Postby ScoobyDoes » Wed, 07 Mar 2007 6:33 pm

Okay, the thing is that i believe Singapore does not have a Free Trade Agreement with Europe, meaning these specifically are expensive.

For your reference, my colleague signed a two year lease on a Nissan Murano when he first arrived, costs around S$2,500 per month all in, i think. I just had the company buy me a car for my arrival last week and it was something that would originally cost about the same as the Murano to buy, but we are paying just S$1,100 in finance.

Check out www.sgcarmart.com to scan through new/used prices. I just did a quick scan and a new basic 2.0L Passat is about the same purchase price as both my car and the Murano we are leasing so comparisons should work out similar.

Personally i think it's cheaper to buy & sell than to lease, if you are talking in the longer terms like 2years+

Secondry point, check out your Income Tax liabilites with regards the leased car. As far as i remember the whole value of the lease gets added straight onto your salary for tax calculations. If the company provides you with a company car, purchased, then 2/7 of the difference between purchase price and scrap value is added instead. Talk to your HR Dept. to double check that since you might be able to get the lease through without having to worry about the taxation.

User avatar
jezzman
Regular
Regular
Posts: 98
Joined: Thu, 01 Mar 2007
Location: Jurong West
Contact:

Postby jezzman » Wed, 07 Mar 2007 8:21 pm

@Scoobydoes: So what you're saying is that I can get an Asian/Japanese car much cheaper than a European car? What if you compare something like the Toyota Picnic or Mitsubishi Outlander to the VW Passat? Got any idea what the price difference would be
Me, fail English?

But nooo, that's unpossible....

User avatar
ScoobyDoes
Manager
Manager
Posts: 1664
Joined: Wed, 29 Nov 2006
Location: A More Lucky Spot

Postby ScoobyDoes » Thu, 08 Mar 2007 12:10 pm

"Like for Like"..... that's a tricky one, but from the website i just gave you above, and only for the models you mention here goes:


VW Passat 2.0L (A) ~SGD111,400
Toyota Picnic 2.0L (A) ~SGD 77,288
Mit. Outlander 2.4L (A) ~SGD 86,988


Short answer, YES Asian Cars are much cheaper than European on a like for like basis. For reference, the Mini Cooper is about the same price as the Passat, new. Also for your reference, I got a range topping Subaru Legacy GT Estate that was ~S$105k new. A normal 2.0L non-turbo'd saloon is ~S$77k new.

PickwickLi
Newbie
Newbie
Posts: 12
Joined: Wed, 20 Dec 2006

Car leases

Postby PickwickLi » Thu, 08 Mar 2007 2:30 pm

We just went for test-drives of some possible company cars to lease.

I'm sure different companies have different negotiating power, but for us, a new Honda Accord, a new Toyota Camry, and a new Nissan Cefiro (all 2.0s) were in our budget of S$2,000/mo. COEs are low right now so I think this may be on the low side for price.

Apparently lots of people like the 2.4 versions of these cars, which are more expensive, but I couldn't tell a difference - speed limits are not as high as I'm used to, so I don't know why you'd need more engine than the 2.0. Not sure what they are quoting for SUVs and the like - we were afraid of having to back those into parking spaces, which are tiny here!

huggybear
Chatter
Chatter
Posts: 414
Joined: Sun, 17 Dec 2006
Location: Hibernation

Postby huggybear » Thu, 08 Mar 2007 2:46 pm

so pickwick li...size doesn't matter??

Grim Reaper
Regular
Regular
Posts: 114
Joined: Tue, 04 Apr 2006

Re: Negotiating company car. Leasing prices?

Postby Grim Reaper » Thu, 08 Mar 2007 4:22 pm

jezzman wrote:I'm going to be negotiating about my contract soon and I know that one of the main points will be the company car.

I've asked for a VW Passat 1,9 TDI,


TDI diesel?

Not allowed to drive a diesel in this country! :D

For the rest, do a google like "lease cars Singapore" or alike.

Car leasing here is a different world from back in Europe, where it is most common to have a lease car if you just were promoted to sales rep or even asisstant assistant.

Leasing here works in general for at least 5 years, meaning the company would hopefully be offering you a longterm contract here, otherwise the care mays still be an expensive asset when you are long gone back to Europe or where ever, which would peobably mean that leasing is not really the solution for the company.

Prices for leasing here in Singapore are expensive, when compared to buying.

For example that Mitsubishi Outlander would be around S$ 86K, expect to pay a monthly installment of about 975 S$ on a 10 year loan, fully financed (90%).

I'd say the leasing price for that car is more than S$ 2K.

Also, when leasing, be aware that the terms & conditions here are way different from back in Europe. Insurance policies are totally different, all risk is unheard of here in Singapore.

Furthermore, driving the car to for example Malaysia will require additional insurance and premiums, often at ridiculous amounts and when looking at the risk of theft, you shoudl nto be surprised to come back without the Outlander. For that reason, leasing companies will add quite a bit to a price already very steep.

I like cars, I drove a few nice ones back in Europe, but here in Singapore? You only need one for the supermarket shopping and to bring the kids to school.

Did your company already confirm that a car is part of the package? If so, good one. If not, don't be surprised that people will stare blank at you when you start saying you were thinking of a Passat lease car.
Time will come....

User avatar
jezzman
Regular
Regular
Posts: 98
Joined: Thu, 01 Mar 2007
Location: Jurong West
Contact:

Re: Negotiating company car. Leasing prices?

Postby jezzman » Thu, 08 Mar 2007 5:58 pm

Grim Reaper wrote:Did your company already confirm that a car is part of the package? If so, good one. If not, don't be surprised that people will stare blank at you when you start saying you were thinking of a Passat lease car.


I haven't seen the first draft for a contract yet, but told the people here who are negotiating about my wishes.

Why isn't diesel allowed in Singapore? :D

Anyways, just for the fun of it I wrote Honda in Singapore to ask them about leasing prices and they came back to me with these prices:

Honda City S$1500.00 per month.
Honda Civic 1.8cc S$1800.00 per month
Honda Accord 2.0cc S$2500.00 per month
Honda CRV 2.4cc $2700.00 per

Used Honda Accord 2.4 cc S$2000.00 per month


It really IS expensive isn't it... :o
Me, fail English?

But nooo, that's unpossible....

Grim Reaper
Regular
Regular
Posts: 114
Joined: Tue, 04 Apr 2006

Postby Grim Reaper » Thu, 08 Mar 2007 6:05 pm

Diesel is only allowed in Taxis and commercial vehicles in Singapore... :(

And yes, leasing is ridiculously expensive here. But then again, knowing people here do not at all take care of stuff that is not theirs, I can understand the leasing company.
Time will come....

User avatar
ScoobyDoes
Manager
Manager
Posts: 1664
Joined: Wed, 29 Nov 2006
Location: A More Lucky Spot

Re: Negotiating company car. Leasing prices?

Postby ScoobyDoes » Thu, 08 Mar 2007 7:05 pm

Grim Reaper wrote:Furthermore, driving the car to for example Malaysia will require additional insurance and premiums, often at ridiculous amounts and when looking at the risk of theft, you shoudl nto be surprised to come back without the Outlander. For that reason, leasing companies will add quite a bit to a price already very steep.


Best is to get a car not so common in Malaysia, like the Outlander, Airtek or Legacy etc. since the rarer they are, the harder they are to get rid of.

Most cars in MY are stollen for parts so if there is no market for the parts there is no market for the car to be nicked in the first place. The Protons, Honda City, Toyota Vios etc. are therefore the main target. Expensive cars like Lexus and Mercs then are stollen to be whisked off to Thailand or Indonesia but again, an uncommon type of car saves you from this too.

There are a lot of cars that are quite common in SG but not so in MY.

ExpatMotorSingapore
Newbie
Newbie
Posts: 2
Joined: Thu, 29 Mar 2007
Location: River Valley Road
Contact:

Postby ExpatMotorSingapore » Sat, 31 Mar 2007 2:49 pm

Hi If you are still looking to Buy or Lease a New / Used vehicle in Singapore, please call my office anytime as we would be only too happy to assist you in your endeavours. Check out our website to gain a better understanding of my company and services we provide. Regards Rainer


  • Similar Topics
    Replies
    Views
    Last post

Return to “Car Leasing & Rental”

Who is online

Users browsing this forum: No registered users and 0 guests