Title: Best Car Loan with Competitive Interest Rates

URL Source: https://www.sgcarmart.com/car_loan/

Markdown Content:
Best Car Loan with Competitive Interest Rates - Sgcarmart

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Drive Smart, Save Big

. Sgcarmart Smart Loan!

Get car loan interest rates from 2.18% + $1.2K KINTO membership + $110 with insurance

Calculate SavingsApply Loan

Check my loan approval status ›

Valid till 30 Nov 2025, *T&C apply

Direct with Sgcarmart

2.18%

PARF

(Personal Use)

2.75%

COE Cars

(Personal Use)

3.18%

PHV Cars

(Private-Hire Use)

Typical Bank Loan

2.48%

PARF

(Personal Use)

2.88%

COE Cars

(Personal Use)

3.28%

PHV Cars

(Private-Hire Use)

What is Smart Loan?

How Do I Apply?

Calculator

FAQs & Articles

CHECK CAR LOAN STATUS

Check your car loan approval status here.

Check My Loan Status

We have no record of your application. Please check if your email address and mobile number is correct.

You may make an application by clicking on "Buy with Sgcarmart Loan" on any car on Sgcarmart.

Car Loan with Attractive Interest Rates

Get attractive interest rates when you buy with a fully-approved car loan from Sgcarmart Financial Services before visiting the showroom.

No more haggling for discounts over bank loans with dealers, just instant savings with our attractive low interest rates, available for used cars, private hire vehicles and COE renewed cars. Apply now and get support with our advisors to buy your next car.

Calculate Your Car Loan Savings

Loan Amount

Loan Term

Interest Rate

Typical Bank

Personal Use

2.18%

2.48%

Cars with renewed COE

2.75%

2.88%

Private Hire Use

3.18%

3.28%

You will save $420 with us!
This loan amount can only be used to finance up to 70% of the car.

You will need $8,571 cash payment to finance a car up to $28,571.

Direct with

Your monthly instalment is$274

Total Paid on Loan$23,052

Typical Bank Loan

Your monthly instalment is$279

Total Paid on Loan$23,472

Apply Loan Get Advice

Want to apply for Car Loan?
Browse used cars and come back here to apply for a Smart Loan for your next car.

Browse More Cars

Why Choose Sgcarmart Smart Loan for Your Next Car Loan?

Unbeatable interest rates

Save money with our low interest rates.

All types of car loans

Loan for used car and private hire vehicles. Wide coverage.

Upfront approval

Quick loan approval. Buy car hassle-free.

Dedicated support

Dedicated team for financing needs. Support throughout car-buying journey.

A Fully digital process

Apply via MyInfo. Get approval via email.

No impact on your TDSR

No impact on TDSR. Own your next car. Worry-free.

How to take control and save with Sgcarmart Financial Services Car Loan

Inside the used car page, click on "Buy with Sgcarmart Loan"

Apply for your loan using MyInfo, get approved instantly!

Offer to buy the car with your Sgcarmart Smart Loan

Sgcarmart Financial Services will help you with the required paperwork

Drive the car home upon confirmation!

Need help or advice, get in touch with us!

Apply Loan Get Advice

FAQs

+What are the terms and conditions for the KINTO membership promotion?

To enjoy the promotional interest rate of 2.18% / 2.75% / 3.18% and KINTO membership promotion:

Apply and disburse your Sgcarmart Smart Loan

Commit to a minimum loan amount of $20,000 and tenure of 1 year

Find out more details about the KINTO membership here

+What is Sgcarmart Smart Loan?

Sgcarmart Smart Loan is a new innovative financing product that complements your car buying experience. It allows you to take control of your finances and improves your affordability with our lowest-in-town interest rates

+Who is eligible for Sgcarmart Smart Loan?

All Singaporeans, Singapore Permanent Residents and foreigners aged 21 and above with a minimum monthly income of S$2,000 are eligible to apply for a loan.

There may be instances where non-working individuals (i.e. Housewives and Retirees) with no income and/or guarantor can manage to secure a loan. We will assess special cases like this based on the person's financial terms and credit standing.

+How long is my approval valid for?

Your approved Sgcarmart Smart Loan will be valid for 30 days.

+What can I use my Sgcarmart Smart Loan for? Does this loan cover commercial vehicles (PHV/Companies etc)?

The vehicle must be a PARF car with more than 13 months of COE left in order to qualify for a Sgcarmart Smart Loan. Sgcarmart Financial Services currently offers car loans for used private cars, private hire vehicles, and COE renewed cars.

+Am I able to utilise Sgcarmart Smart Loan to buy a used car through a direct seller?

If you are a direct buyer and need assistance with direct owner car sales, please contact our advisors at [email protected] or 9138 6924 / 9729 2446. We will help you with the car loan application. Please note that there is a $500 admin fees apply.

+How does Sgcarmart Smart Loan offer such competitive interest rates?

This loan operates on a direct-to-consumer model which allows us to convert our savings into a lower interest rate for you.

+Are there any fees involved for using this service? (For direct owners' vehicle)

Service fees may apply depending on buyer's loan requirement and on a case by case basis. Please contact our customer service officer for more details.

+How do I calculate my overall savings if I take up a Sgcarmart Smart Loan?

You may make a side-by-side comparison with our interest calculator to see how much you can save when you take a Sgcarmart Smart Loan.

+How do I apply for a Sgcarmart Smart Loan?

Once you've shortlisted a car you want on Sgcarmart, you can click on the loan application button on the car's listing page and apply for the loan via MyInfo, reducing your application time and allowing us to review your information accurately.

+When can I expect to hear back after submitting my loan application?

We will get back to you within the next working day. Alternatively, you can also check your loan status via the check status button on our website.

+What happens after my loan is approved?

You will receive your loan outcome via the email address you provided. We will also reach out via mobile to guide you on the following steps after your approval, including what to expect before visiting the dealership for car viewing or purchase.

+If I wish to change the car I want to buy after the loan approval, can I do so?

When financing a vehicle, it's important to understand that the approval terms are typically linked to the specific car you initially selected. If you decide on a different model or make, simply contact us via 9138 6924.

We will review the changes and adjust your financing approval if necessary. This ensures that all the details are up to date and that the loan terms still apply to your purchase.

Always keep the lines of communication open to avoid any complications during the car buying process.

+Which dealer can I shop with after receiving my loan approval?

You can visit any dealer with a Sgcarmart Smart Loan marker

+At which point do I inform my dealer that I have an approved Sgcarmart Smart Loan?

You can inform your dealer at the start of the shopping process so that they can better advise and structure your deal.

+What happens if I receive a conditioned approval?

A conditioned approval may be a lower finance amount or a requirement of an additional guarantor to support your application. We will contact you by the next working day to update and assist you with your preference.

+What happens if my application is declined?

We are unable to support your loan application as you did not fulfil our approval criteria. If you agreed to our marketing consent, our partners might reach out to you about your interest in applying with them

+What would my car dealer do after I have confirmed my used car purchase?

We will reach out to your dealer after you have confirmed your purchase and guide them on the next steps to complete your loan process.

+When do I know that my Sgcarmart Smart Loan has started?

You will receive your loan contract via a password-protected email. You will also receive an SMS via your registered mobile number to inform you of the commencement of your contract.

+What methods of monthly repayment do you accept?

We accept GIRO, PayNow, or Bank Transfer.

+Which financial institution will be backing my loan? Who do I contact for help and questions?

All loans made with Sgcarmart Financial Services are backed by Toyota Financial Services (Singapore) Pte Ltd.

Mobile: 9138 6924 / 9729 2446

Email: [email protected]