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Car Leasing in Singapore: Top 5 Companies & Expert Tips

car leasing singapore

In Singapore, leasing a car is becoming an increasingly popular choice. Unlike buying a vehicle, leasing allows you to drive a car for a fixed period. This option is often accompanied by lower upfront costs than purchasing a car, where a significant down payment is required. 

One of the key benefits of leasing is that you’re not tied down to a long-term financial commitment. At the end of your lease, you can upgrade to a newer model, switch cars, or walk away, giving you a level of freedom seldom found in purchasing. 

Learn more about the basics of car leasing in Singapore and how it can fit your lifestyle and budget. Additionally, we’ll provide insights into the best car leasing companies in the region so you can choose the right leasing company for your needs.

What to Consider When Choosing a Car Leasing Company

Several factors will guide your decision when you’re in the market for a car lease in Singapore. These considerations strike a balance between cost-effectiveness and quality of service. Here’s what to keep in mind:

Pricing

When evaluating the cost-effectiveness of a car lease in Singapore, consider the monthly payment against your budget, and consider if it has a low upfront cost. Leasing a car typically ranges from S$1,300 to S$3,000 monthly, and the lease often includes the cost of road tax. Assess these costs to determine if leasing is a financially viable option for you.

Note: Car leasing means paying less on a monthly basis for the same car without owning it, according to Ana Staples of CNBC. 

Contract Terms

Understand the lease duration and what’s included. Check for mileage limits, maintenance clauses, and early termination fees. Be clear on what is expected at the end of the lease regarding the vehicle’s return condition.

Insurance Coverage

Make sure you have adequate coverage. This includes basic insurance and any supplemental options that offer additional protection. Note that car leasing companies typically require lots of auto insurance coverages, which may raise your premium, as stated by Cassidy Horton of Forbes.

Customer Service

Consider the reputation of the leasing company for reliable customer service. Timely support and assistance can make a significant therapeutic effect, according to a study, especially when unexpected issues arise with the leased vehicle.

By thoroughly examining these areas, you’ll be better equipped to select a car leasing company in Singapore that suits your needs and provides peace of mind throughout your leasing term.

Top 5 Car Leasing Companies in Singapore

When considering car leasing in Singapore, selecting a reputable company that caters to your specific needs is crucial. Five companies stand out for their exceptional car leasing services and diverse vehicle selections among the wide range of options. We are listing them down below:

Bolt Car Leasing

1. Bolt Car Leasing

Overview:

Established in 2011, Bolt Car Leasing Singapore has become a preferred choice for car leasing in the region. They offer various vehicles, from economical models to luxury cars, and provide short-term and long-term leasing plans to fit your needs. Their focus on customer satisfaction and flexibility makes them a go-to option for individuals and businesses.

Unique Selling Points:

  • Extensive fleet: A diverse selection of new and pre-owned vehicles, including sedans, luxury cars, SUVs, and MPVs, to fit your budget and preference.
  • Flexible leasing options: Tailored short and long-term leasing plans to suit various needs, whether for personal use, business, or expatriates.
  • Customer-centric approach: Committed to creating a smooth, hassle-free rental car process and building reliable partnerships.
  • 24/7 support: Round-the-clock roadside assistance and dedicated customer service for a worry-free leasing experience.

Customer Testimonials:

“I rented a 2014 Golf from BOLT; the maintenance and service support is excellent. It’s now one of my favorite cars. Thanks to the staff there.”

Benjamin Chua

“I stumbled upon Bolt about 2 years ago when I was looking to lease a car. Experience has always been great from start to end! Always there for me. Very professional and courteous. Thank you for accommodating my needs.

Yani Sani

ethoz group

2. ETHOZ Group

Overview:

ETHOZ Group is one of Singapore’s pioneering car leasing firms, with a legacy dating back to 1981. Your transportation needs are comprehensively catered to, whether you’re an individual or a corporate client. Their fleet encompasses a wide range of vehicles, including luxurious, eco-friendly hybrids and practical commercial vehicles.

Unique Selling Points:

  • Extensive fleet variety: Offering a broad selection of high-quality vehicle brands, such as Audi, BMW, and Toyota, ensures you can find the perfect match for your specific needs, whether for a day or on a long-term lease basis.
  • Regional reach: With operations across Singapore, China, and Malaysia, ETHOZ is a regional player, giving you peace of mind with its established presence wherever you go.
  • Specialized services: You gain access to bespoke services like private hire rentals and even cars suited for a cross-border road trip to Malaysia.

Customer Testimonials:

“It’s been a pleasant experience renting from Ethoz. From collection to extension, Ms Eve Oh has made it a breeze for me and my family. The car was in good condition, which made the driving experience worry-free. I would definitely come back for car rentals, which would give me peace of mind.

Keep up the good work, Ethoz!!”

Zack Zakariah

“Recently, I got a long-term car rental from Ethoz. My relationship manager, Jonathan Quek, provided excellent service. Prompt response to all my queries and goes out of his way to meet after hours, given my busy schedule. Managed to expedite delivery of the vehicle on short notice. Pricing was very reasonable and was of value for money. The whole rental process was very smooth from the start. I highly recommend Ethoz for car rentals.”

Daryl Chia

kt group

3. KT Group

Overview:

If you’re considering car leasing in Singapore, KT Group is a comprehensive option. They offer automotive services, including car servicing for routine maintenance, car rental for temporary needs, long-term car leasing solutions, and repair services for mechanical issues. With all these services under one roof, KT Group provides a convenient and reliable choice for all your vehicle needs.

Unique Selling Points:

  • Impeccable quality: Their commitment to thorough workmanship ensures exceptional service standards.
  • Flexible solutions: They cater to a wide range of needs, offering personalized personal and corporate leasing solutions.
  • Accessibility: With a 24-hour customer service line, assistance is always just a phone call away.
  • Integrated services: The seamless integration of car servicing and leasing options provides customers a convenient and hassle-free experience.

Customer Testimonials:

“Good service by the seller, car in good condition, reasonable price. Will rent again, thanks.”

-Review from Carousell

“Very reliable rental company! Good condition, car, and good service. Will rent again!”

-Review from Carousell

ride now

4. Ride Now

Overview:

Ride Now is a distinguished car leasing company in Singapore that has built a reputation for its outstanding customer service and comprehensive range of rental options. Its extensive fleet includes various vehicles, from economical models for daily commutes to luxury cars for special occasions, ensuring that they can cater to diverse customer needs. 

Their competitive pricing and flexible rental terms make them a preferred choice for personal and corporate clients. With a focus on maintaining well-serviced vehicles, Ride Now guarantees a smooth and reliable driving experience for all its customers.

Unique Selling Points:

  • Diverse fleet: Ride Now offers various vehicles, from your dream car to any economy model, catering to various preferences and needs.
  • Competitive rates: They provide attractive leasing rates, making it an affordable option for many customers.
  • Well-maintained vehicles: Regular servicing ensures a smooth and reliable driving experience for all customers.

Customer Testimonials:

“I was excited when I learned about this service as it is convenient. What pleasantly surprised me the most was their excellent technical support. I was experiencing minor trouble submitting my documents, so I texted their support. The matter was answered and resolved within minutes! Highly appreciate and recommend RideNow! 5 stars!!”

Martina Comiti

“My experience was excellent, from app UI to customer service (they reply immediately to WhatsApp messages within working hours). I even made a mistake when choosing a rental package, and they immediately refunded me the difference as an account bonus. Recommended.”

Demetris Gregoriou

Global Advance Leasing

5. Global Advance Leasing

Overview
Established in 2001, Global Advance Leasing offers Singapore’s comprehensive range of car rental and leasing services. As a market leader, it focuses on providing a pleasant car rental experience—you can select from various car rental options for personal and commercial needs, also promising unlimited mileage.

Unique Selling Points

  • Customization: The services are tailored specifically to meet your diverse hiring needs.
  • Experience: Over two decades in the industry ensure you receive knowledgeable and professional service.
  • Maintenance: Vehicles are well-maintained to high safety standards, ensuring a reliable drive.

Customer Testimonials
“I leased a car with KT Leasing (Global Advance Leasing). They were not only the cheapest but also extremely flexible and efficient. They offered great customer service, particularly Charlene and James. Highly recommended.”

Joey Nalliah

Comparison of the Top 5 Car Leasing Companies

Here is a comparison of the top five car leasing companies to help you make an informed decision.

Company

Pricing

Services

Contract Flexibility

Bolt Car Leasing

Contact service provider

  • Wide range of vehicles
  • Short-term and long-term leases
  • 24/7 support

Flexible leasing options

ETHOZ Group

S$450 to S$900, depending on car model

  • Extensive fleet variety
  • Regional reach
  • Specialized services

Tailored solutions for personal and corporate leasing

KT Group

S$1,800 to S$2,300 for corporate, long-term rentals

  • Car servicing
  • Car rental
  • Long-term leasing
  • Repair services

Flexible solutions for personal and corporate leasing

Ride Now

Starts at S$1,300 monthly

  • Diverse fleet
  • Well-maintained vehicles
  • Competitive rates

Flexible rental terms

Global Advance Leasing

Starts at S$70 a day, depending on the car model

  • Customization
  • Maintenance
  • Experience in the industry

Tailored services for diverse hiring needs

Your choice of a car leasing company should be based on the type of vehicle you prefer, your budget, and your need for contract flexibility. Whether you require a luxury vehicle for corporate use or a cost-effective option for personal mobility, these top companies cater to a spectrum of preferences. Each company’s approach to leasing is designed to offer convenience, quality, and customer satisfaction.

Tips for Getting the Best Deal on Car Leasing

To secure a favorable lease deal in Singapore, consider the following tips:

  • Understand the market: Research the current market rates for different car models. Companies provide expert advice to help you understand what a competitive lease rate looks like for your desired car.
  • Negotiate upfront: Lease terms are not set in stone. Approach negotiations with confidence, and feel free to question the quoted price.
  • Read the fine print: Laura Daily of The Washington Post says that there is important information embedded in the fine print, so scrutinize the lease agreement’s terms. Monitor mileage limits, maintenance clauses, termination fees, and the lease-end buyout option.
    • Mileage: Understand your driving needs and negotiate a mileage limit that reflects your lifestyle.
    • Maintenance: Ensure clarity on who is responsible for regular maintenance and repairs during the leasing period.
    • Termination: Be aware of the costs if you decide to terminate the lease early.
    • Buyout option: Determine the residual value and whether buying the car at the end of the lease is viable.
  • Compare car deals: Don’t settle on the first offer. Explore options from different providers and use them as leverage.
  • Avoid add-ons: Be cautious of additional offers, such as an extended warranty or service leasing package, which can drive up costs without providing equivalent value.

It’s also noteworthy that leasing costs can vary with monthly expenses depending on the car’s make and model. Your goal should be to find a deal that balances your financial limitations with your automotive needs.

Frequently Asked Questions

1. How Much Does It Cost to Lease a Car in Singapore?

The cost to lease a car in Singapore varies based on factors like the make and model, lease duration and included services. On average, you can spend anywhere from S$1,500 to S$$4,000 monthly. 

2. What Is the Best Car Lease Term?

Typically, lease terms in Singapore range from 1 to 5 years. Your choice should balance the lower costs of a longer term against the flexibility of a shorter commitment. Selecting the best term depends on your individual needs for vehicle usage and financial planning.

3. What Is the Biggest Advantage to Leasing a Car?

Leasing a car provides the luxury of driving a newer model without the hefty upfront costs associated with purchasing. It allows predictable budgeting with fixed monthly payments and eliminates the hassle of car value depreciation.

4. How Much Is Car Rental per Month in Singapore?

The average monthly cost of car rental differs depending on the vehicle type and duration. For long-term rentals, prices typically range between S$1,307 and S$2,100 monthly. 

Premium services offering luxury cars may have higher rates, such as Hertz’s monthly BMW promotion at S$3,321. For popular models like the Mazda 3 or Honda Vezel, leasing costs are approximately S$1,700 monthly. 

These prices are subject to change and may include additional services or insurance coverage. Contacting car rental or leasing companies ​​​​is the best way to obtain accurate information.

Read Also: Best Car Loans in Singapore

Final Word

Car leasing simplifies the process with less paperwork and fixed monthly expenses, allowing you to enjoy the ride without the hassles of ownership. It’s a financially savvy choice for those looking for convenience and predictability in their driving experience.

Key Takeaways

  • Leasing a car in Singapore provides a convenient alternative to buying, with lower upfront costs and the flexibility to switch cars or upgrade at the end of the lease term without the long-term commitment of ownership.
  • When choosing a car leasing company, it’s essential to consider factors such as pricing, contract terms, insurance coverage, and customer service to ensure a cost-effective and hassle-free experience.
  • The top car leasing companies in Singapore, including Bolt Car Leasing, ETHOZ Group, KT Group, Ride Now, and Global Advance Leasing, offer a wide range of vehicles and services to cater to various needs and preferences, from economical models to luxury cars and commercial vehicles.

If you need quick cash for emergency needs, 1 Fullerton Credit offers customized and transparent lending solutions. We guarantee fast approval personal loan applications, ensuring you get the financial assistance you need without delays. Request a quote today!

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