Considering to turn your depreciating asset into a money making asset? Following are the steps to get you started.
1. Do you meet the minimum requirements?
- At least 21 years old
- Singaporean with a valid Private Hire Car Driver’s Vocational Licence (PDVL) or Taxi Driver’s Vocational Licence (TDVL)
- Minimum 2 years of driving experience
- Owner of a 1.5l and above 4-door car
2. If yes, you are ready to proceed with conversion of your vehicle
You will need to convert your vehicle to a Z10 or Z11 classification to be eligible for grab usage. Z10 is for sedan cars while Z11 is for SUVs and MPVs. The process is easy and can be done via ONE.MOTORING with your SingPass.
- Visit ONE.MOTORING website
- Login with your SingPass
- Select: Ownership > Vehicle Scheme / Specifications > Convert My Vehicle Scheme > Conversion type: Passenger to Private Hire (Chauffeur)
- Make payment of $100
Can I convert my car if it is still under financing?
If your car is still under financing, you will need to refinance your car before you can convert it into a private-hire vehicle.
Can my COE renewed car be converted to private-hire vehicle?
If you are planning to renew your car for private-hire usage, you can absolutely do that. In fact, you can apply for COE renewal loan for private-hire cars.
Looking to refinance your car or renew it for private-hire usage? We are here to help. Drop us an email at [email protected] or call us at 6444 4400 (9am-6pm, Mon-Fri) and our friendly consultant will be able to assist you.
3. Getting Private-Hire Car Decal
After converting your vehicle to Z10 or Z11 classification, the next step is to get a private-hire car decal. Starting from 1 July 2017, all private-hire cars are required to have the private-hire decal displayed on both front and rear windscreens of the car. The decals are tamper-evident and it should not be removed or re-pasted once it is affixed. Once you have converted your vehicle, visit Vicom or STA inspection centres to get the private-hire decal affixed at $20 (including GST).
4. Purchase Commercial Insurance
Before you start taking any Grab job, make sure that your car is commercially insured so that both you and your passengers are protected in the event of an accident.
If you are looking for a best quote with the most comprehensive coverage, we are here to help. Speed Credit is a partner with 14 most reputable car insurance companies in Singapore. All you need to do is to fill out the FREE non-obligatory car insurance quotation form and we will get back with 3-5 of the best and cheapest car insurance quotes that is perfect for your driving needs.
Once you have completed the above steps, you may apply to Grab to become a private-hire driver under them and start accepting jobs!