Hire Purchase Car Loan
A hire purchase car loan is a common way to finance a vehicle in Singapore. It allows you to drive the car while paying for it in instalments over an agreed period.
You typically make an upfront down payment, followed by fixed monthly instalments. Ownership of the vehicle is transferred to you only after the final payment is completed.
Whether you're purchasing a personal vehicle, expanding a business fleet, or financing a private hire car, GB Helios helps you secure suitable hire purchase financing with competitive terms and a streamlined process.
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Hire Purchase Financing Overview
With our flexible hire purchase solutions, you get the vehicle you need now and enjoy manageable payments that fit your budget.
- Loan Tenure
Spread the cost of your vehicle over up to 10 years with our manageable hire purchase solutions.
- Financing Percentage
Finance a significant portion of your vehicle purchase, freeing up capital for other business ventures.
- Competitive Rates
Take advantage of our competitive rates designed to support business growth.
- Vehicle Types
Finance a diverse range of vehicles, including commercial vans, salon cars and trucks.
Why Choose GB Helios?
Pre-Approved Loan Assessment
Understand your borrowing capacity before committing to a purchase.
Digital Application Process
Apply securely using MyInfo for faster processing.
End-to-End Support
Guidance from application through to loan disbursement.
Convenient Repayments
Automated payment options, such as GIRO, for ease of repayment.
How Hire Purchase Works
Step 1: Application
Submit your financing application with your personal or business details.
Step 2: Approval
Lenders assess your credit profile and affordability.
Step 3: Down Payment
Pay the required upfront amount based on LTV limits.
Step 4: Repayment
Make fixed monthly instalments over the agreed tenure.
Step 5: Ownership Transfer
Full ownership is transferred after the final instalment is paid.
Check For Your Eligible Loan Amount Instantly
The Pre-approved Loan allows individuals and businesses to quickly determine their maximum loan amount and estimated monthly instalments. This empowers you to make informed decisions and shop for your vehicle with confidence.
Find out how much you can borrow in just 3 simple steps!
Visit Application Page
Apply with MyInfo
Receive an Email
You will receive an email notifying you of the maximum loan amount and estimated monthly instalments.
Not sure whether you qualify? Our team is happy to walk you through the private hire car loan requirements based on your specific circumstances. Contact us to get started.
Discover AutoMate: The Ultimate App for Auto Dealers
AutoMate is a one-stop online platform designed to help automotive dealers simplify their daily processes, such as applying for car financing for dealers with multiple financial institutions, applying for car insurance and floor stock financing, as well as selling and bidding for inventory with the Auctions feature.
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Frequently Asked Questions About Hire Purchase Car Loans
What are the eligibility criteria for hire purchase?
Common requirements include being over 18 years old and having a satisfactory credit history and credit score. Contact us to discuss your specific circumstances, and we'll be happy to outline the exact requirements.
How is this different from floor stock financing?
Floor stock financing is designed to help car dealers with short-term inventory of vehicle stocks, whereas hire purchase is designed to help businesses and individuals with loans purchase commercial or passenger vehicles that can range from one vehicle to a fleet.
What is the interest rate for hire purchase loans?
We offer competitive interest rates on our hire purchase car loans. Contact us today for a personalised quote.
Can private hire vehicle (PHV) drivers apply for a hire purchase car loan?
Yes. If you're driving on platforms such as Grab, Gojek, or Tada, you are eligible to apply. A hire purchase car loan covers vehicles used for commercial ride-hailing purposes, so PHV drivers can finance their car through the same streamlined process as any other applicant.
