Long-Term Car Lease Cost in Singapore: 12/24/36 Months

The monthly cost of a long-term car lease in Singapore runs from about S$1,200 for a Toyota Vios to S$5,500 for a German marque, and the term you choose moves that number as much as the car does. With Category A COE at S$126,009 in June 2026, leasing keeps that capital off your books. This blog walks you through the real monthly figures across 12, 24, and 36-month plans, starting with our long-term leasing plans.

How much does a long-term car lease cost per month in Singapore?

A long-term car lease in Singapore costs roughly S$1,200 to S$5,500 per month in 2026, depending on the vehicle and the term. A Toyota Vios sits near the floor at about S$1,200 to S$1,500, a mid-size Honda Accord runs S$1,800 to S$2,400, and a BMW or Mercedes reaches S$3,500 to S$5,500. Each figure already bundles road tax, insurance, and servicing.

Treat any single sticker price with suspicion. Leasing rates are quoted to the exact car, its age, and the length of your commitment, which is why an honest answer is a range rather than one number. Singapore Car Rental does not publish a fixed price list for this reason; the figures above are indicative June 2026 market ranges, and a quote pins them to the vehicle you actually want. The cheapest way to read this market is by tier: budget sedan, mid-size, SUV, MPV, then luxury. Each tier carries its own band, and the term you pick slides you within it.

How much cheaper is a 24 or 36-month plan than a 12-month lease?

A longer term lowers your monthly rate, commonly by 10 to 20 percent moving from a 12-month to a 36-month commitment. A mid-size sedan quoted at S$2,000 on a 12-month plan can settle near S$1,700 to S$1,800 on 36 months. The car is the same; the math behind it changes.

The provider amortises acquisition and administrative cost over more months and takes the vehicle out of the higher-priced spot market, so the saving is passed back to you as a lower monthly figure. The trade is flexibility. A 36-month plan locks your rate against COE swings, while a 12-month plan keeps you free to switch cars or exit sooner at a premium. My position is simple: if your horizon is genuinely certain, the longer term is the cheaper money, because the discount is real and the lock-in only bites if your plans change. A 24-month plan captures most of that 10 to 20 percent saving while leaving you an earlier off-ramp.

What does a long-term lease cost by car type?

Cost tracks vehicle class first and everything else second. These are indicative all-inclusive monthly ranges for June 2026, before term discounts are applied.

• Budget sedan, Toyota Vios: S$1,200 to S$1,500
• Mid-size sedan, Honda Accord: S$1,800 to S$2,400
• SUV, Toyota Harrier: S$2,000 to S$2,800
• MPV, Honda Odyssey: S$1,800 to S$2,500
• Luxury, BMW or Mercedes-Benz: S$3,500 to S$5,500

The Vios is the value anchor of this market: low running cost, easy parking, and the cheapest band on the board, which is why it dominates city fleets. Our Toyota Vios for city driving guide explains where that compact size pays off. At the family end, the seven-seat practicality of the Honda Odyssey for families justifies its MPV band for school runs and airport loads. The jump to a German luxury marque roughly doubles a mid-size sedan’s monthly figure, which is the clearest single line in the whole table.

What’s bundled into the monthly price, and why a cheaper quote can cost more?

An all-inclusive long-term lease bundles road tax, comprehensive motor insurance, scheduled servicing, mechanical maintenance, and 24/7 roadside assistance into the monthly figure. Singapore Car Rental adds unlimited mileage and a replacement vehicle during workshop time, so a service visit never leaves you grounded or facing an excess-kilometre bill.

This is where a low headline rate can quietly cost you more. A quote that looks S$200 cheaper but excludes servicing, caps your annual mileage, or treats breakdown cover as an add-on will overtake the dearer all-inclusive plan within months. The cleaner way to compare is total cost over the full term, not the first line of the quote. A S$1,400 lease that covers everything beats a S$1,200 lease that bills insurance, road tax, and repairs separately. Read the inclusions before you read the price.

What costs sit on top of the monthly lease fee?

The lease covers the car and its upkeep, not your daily running costs. Fuel, ERP charges, parking, season passes, and any traffic fines sit outside the monthly figure, and they add up faster than first-time lessees expect. A daily city commuter can spend a few hundred dollars a month on these alone.

Two extras catch people out. Parking and ERP scale with where and when you drive, and our breakdown of ERP and parking costs puts real daily numbers against them. If you cross into Malaysia, your leased car needs an activated Vehicle Entry Permit RFID tag, enforced since 1 July 2025, with a RM300 fine for crossing without one. Budget the running costs as a separate line from the lease, because the predictable monthly fee only stays predictable if you do.

How much deposit do you pay before you drive?

You pay a refundable security deposit at signing, usually equivalent to one month of the agreed rental and commonly in the S$1,500 to S$3,000 range depending on the vehicle. It is collected alongside your first month and returned at the end of the term, minus any cost for damage beyond fair wear or outstanding charges. Confirm the exact figure on your quote, since it scales with the car.

The deposit is a hold against risk, not a fee, and it behaves much like a rental hold. Keep your handover condition report and photograph the car at collection and return, because that single habit settles almost every deposit dispute before it starts. The mechanics of how deposits are held and released in Singapore follow the same logic across rental and lease agreements.

What makes one lease quote higher than another?

Four levers move the monthly figure: the car’s value, its age, the term length, and any extras you add. A brand-new Honda Accord leases higher than a well-kept three-year-old PARF example of the same model, sometimes by S$300 to S$500 a month, because the provider is carrying more capital and more depreciation.

The base rate ultimately traces back to the Certificate of Entitlement. With Category A COE closing at S$126,009 in the first June 2026 exercise, the cost of putting any car on the road is high, and lease rates move with it. Term length then discounts that base, and extras such as additional named drivers or a Malaysia-ready setup nudge it back up. Companies have one more lever: leasing under a registered business name through a corporate lease account makes the 9 percent GST claimable as input tax, which lowers the effective monthly cost in a way individuals cannot access.

Which lease term gives the best value in 2026?

For most drivers, the 24-month plan is the value sweet spot. It captures the bulk of the long-term discount, roughly 10 to 20 percent off a 12-month rate, without the full commitment of a 36-month contract. Pick 12 months only if your plans are genuinely uncertain, and 36 months if you are a settled family or a company that wants its rate frozen against COE volatility.

The case for any of these terms rests on what ownership now costs. Total car ownership in Singapore commonly runs past S$2,500 a month once COE, depreciation, insurance, and servicing are counted. The pressure is structural: Transport Minister Chee Hong Tat told Parliament it is “not tenable” for the vehicle population to keep rising, and ownership has already fallen to about one-third of households, down from 40 percent in 2013. Against that, a fixed lease that bundles every recurring cost into one forecastable figure is the rational choice for anyone keeping a car under four or five years.

Conclusion

The monthly number on a long-term lease is set by three dials you control: the car you choose, the term you commit to, and how much you let the provider bundle into the fee. Chase the lowest headline and you often pay more across the year once servicing, insurance, and mileage are counted. The 24-month, all-inclusive plan is the value answer for most drivers in 2026.

Tell us the car you want and how long you need it, and we will return exact monthly figures across 12, 24, and 36 months. Request a tailored quote from the Singapore Car Rental leasing team.

Frequently Asked Questions

What’s the cheapest car to lease long-term in Singapore? 

A Toyota Vios is the cheapest mainstream long-term lease in Singapore, with indicative June 2026 rates from about S$1,200 to S$1,500 per month. Its low running cost and compact size keep both the lease and the fuel bill down, which is why the Vios is the default choice for city drivers and ride-hail fleets.

Does the monthly lease price include GST? 

Yes. All-inclusive long-term lease packages in Singapore quote a GST-inclusive monthly figure at the prevailing 9 percent rate. A registered company leasing through Singapore Car Rental can claim that GST as input tax, which lowers the effective cost. Individuals pay the GST-inclusive figure with nothing further to reclaim.

Is a 12-month lease cheaper per month than a 6-month one? 

Yes. A 12-month lease almost always costs less per month than a 6-month plan, often by 10 to 20 percent, because the provider spreads acquisition and admin costs over a longer commitment. If you know you need a car for at least a year, the 12-month term is the cheaper money. Shorter plans buy flexibility at a premium.

Can I get a lower rate with a used or PARF car? 

Yes. A pre-owned or PARF vehicle leases for less than a brand-new equivalent, sometimes S$300 to S$500 a month cheaper on a mid-size model like the Honda Accord. The car is older and carries less depreciation for the provider, so the saving flows to you. The all-inclusive cover stays the same.

Is leasing cheaper than buying a car for three years? 

For a three-year horizon, leasing usually wins. Buying loads the Certificate of Entitlement, which closed at S$126,009 for Category A in June 2026, plus ARF, GST, and steep early depreciation onto your first years of ownership. Leasing converts that into a fixed monthly figure with no resale risk at the end.