Why You Should Consider Long Term Car Rentals

Car ownership in Singapore is a relatively uncommon phenomenon due to the high cost barriers and hassle of maintaining a vehicle. In 2019, Singapore’s car ownership rate was a mere 11%, and the cost of a new compact car was estimated to be a staggering $99,000. This included a Certificate of Entitlement (COE) price of over $30,000, which gives Singaporeans the legal right to own a car. In the UK and US, the same car would cost $24,000, a quarter of the price you would pay here.

For these reasons, long term car leasing in Singapore is quickly gaining traction as a viable alternative, offering a way to get around the island without the responsibility that comes with car ownership. In this article, we examine why more and more Singaporeans are opting for it. But before we delve into the rationale, we must first understand what long-term car rentals are, and how they differ from other types of car rental.

What are Long Term Car Rentals?

As the name suggests, long term car rentals are services that provide you with the use of a vehicle on a long-term basis, which can range anywhere from weeks to months to even years. They differ from short-term car rentals, whose stipulated period is usually shorter and include daily, weekly and monthly periods.

Long-term car rental is similar to car ownership in many ways, but it offers some distinct advantages that car ownership does not. Here is a list of benefits you can enjoy from long-term car rental.

More Value for Money

Renting a car for a long period of time is often cheaper than paying a car loan. Lease payments for a long-term car rental are usually lower than monthly payments for a car loan, which can be staggering due to the high costs associated with buying a car in Singapore. When you book a long-term car rental, you do not have to worry about forking out exorbitant amounts for a COE or various fees and taxes that are meant to dissuade car ownership.

In addition, when you lease a car with Singapore Car Rental, you can look forward to no mileage limit for driving the car in Singapore and Malaysia. Enjoying unlimited miles at low rental rates means that long-term car rental is often more value for money than buying a new car in Singapore.

Always Drive the Latest Models

When you buy a new car in Singapore, you will usually be stuck with the same vehicle for the next 10 years due to the length of the COE. This is because the process of selling your current car and buying another one to replace it can be lengthy and time-consuming, and is often prohibitively expensive to boot.

With long-term car rentals, you can enjoy the luxury of always being able to drive the latest models, without the inconvenience of having to trade in your current car. Our range of top-of-the-line vehicles is equipped with the latest technology to ensure a smooth driving experience for you, and you will surely find something you like among our fleet. After your lease is up, you can trade in your rented vehicle quickly and easily, without any extra fuss. Enjoy the satisfaction of driving a brand-new car at a fraction of the cost!

No More Maintenance Worries

Opting for long-term car rental over car ownership also grants you freedom from worrying about its upkeep and maintenance. Because you do not own the vehicle, any breakdowns or other types of car trouble are someone else’s responsibility – all you have to do is bring it in to the dealer and have them resolve the issue for you.

In the unlikely event that you experience any kind of car trouble at any point during your lease, we will immediately swap out your vehicle for an even better model, no questions asked. With Singapore Car Rental, you’ll never have to worry about having to take your car into the shop again. Just sit back, relax and let us do the heavy lifting.

No Risk of Depreciation

Cars are notorious for being depreciating assets; it is well-known that once you drive a brand-new car off the lot, it immediately loses value since it is now considered “used”. Since you continue to lose more and more money the longer you own the car, it often makes more sense to lease a vehicle instead. In this way, you will not feel the pinch of depreciation costs.

When you book a long-term rental contract with us, you pay an all-inclusive rental rate that covers insurance, road tax, unlimited mileage, breakdowns and maintenance during the period of hire. There are no hidden costs or extra charges, so what you pay is what you get – no depreciation losses necessary.

Simple Return Process

Once your lease period is up, all you have to do is return the car to us and your responsibility will end there. Unlike with car ownership, you will not have to deal with the hassle of scrapping it or selling it to a new owner. By choosing long-term car rental, you save yourself valuable time and money that you can then enjoy in other areas of your life.

If You’re Not Staying Long

This is by far the biggest reason why many people choose to book a long-term car rental rather than buy a car. If you are an expat who is not likely to stay in the country for a long time, it does not make sense to buy your own vehicle only to sell it a few months or years down the road. Leasing a car gives you the flexibility to determine how long you will need it for, and return it once you are sure you are leaving for good.

No matter how long you’re staying, we will make sure that your time here is as comfortable and convenient as it can be.

For Businesses

Long-term leasing is not only for individuals. Singapore Car Rental also runs corporate car rental Singapore accounts for companies that need staff mobility without buying and maintaining a fleet. The rental is billed against the company account on agreed terms rather than an employee’s card, which keeps expenses tidy for finance and gets new hires on the road without the wait of a vehicle purchase.

For Individuals

For everyday drivers, a long lease is about independence without the burden of ownership. You drive the car yourself, on your own schedule, from the daily commute to a weekend run across the Causeway, and hand it back when your plans change. Most individual renters take the self drive car rental route rather than a chauffeur, since the whole point of a lease is having your own set of keys for as long as you need them.

Long Term Car Rentals from Singaporecarrental.sg

Singapore Car Rental provides a full suite of services for both corporate and individual needs. Our clients are secure in the knowledge that we offer quality cars and professional expertise to ensure that every ride is smooth, comfortable and safe. We offer both daily car rental SG services as well as longer term rentals.

But the best part is that we give you all this, at competitive prices – our quotes are all inclusive with NO hidden charges. We also provide delivery of cars to your doorstep island wide at no charge. And offer car rental service to both Changi Airport and Hotels as well.

Book a long term car rental in Singapore with Singapore Car Rental today!