Direct Car Buyer - Seller Loan Program

Matching Car Buyers and Sellers Since 2000

Car Loan at a Glance

From*
1.68%
Interest Rate
Since 2000
100%
Approval Rate
As Fast As*
1-2 Days
Loan Approval
Up To*
7 Years
Loan Tenure
Up To*
70%
Financing

*Terms & Conditions apply.

Car loan interest rate offers at Speed Credit ranges from 1.68% – 6.68% and may vary based on vehicle type, loan type, loan amount, repayment period, past and present financial or credit status and other eligibility criteria. We cover various vehicle types such as normal cars, sports and exotic cars, commercial vehicles, Private Hire Vehicles (PHV), rental vehicles, COE cars, vans, lorries, trucks and buses — from light to heavy industry vehicles.

A Unique Loan Matching Program Between Direct Car Buyers & Sellers

Buying a car from a direct seller? Let us take out all the stress and worries that usually arise when car buyers go direct.

Apart from car ownership verification and acting as a neutral third-party witness to all transactions, we also provide the best and the cheapest car financing packages and offer free full administrative support (all bank and car ownership/LTA-related processes and paperwork).

Save time, save money, and enjoy peace of mind!

Matching Direct Car Buyers & Sellers With the Best Loan Options

Speed Credit’s Direct Car Buyer – Seller Loan Program enables car buyers to get the best loan package that matches their financial needs. Monthly payments can be tailored to match your needs for terms between 12 months to 84 months.

The checklist is usually long and there are too many processes involved when it comes to buying a used car in Singapore – this is why many car buyers turn to our professional loan matching service to verify the rightful car ownership and to seek car financing assistance. Car sellers will also benefit from this program as the car resale process is more convenient and time-efficient.

On top of providing the best car financing, our Direct Car Buyer – Seller Loan Program further ensures complete administrative support for the transfer of car ownership so that every party has absolute peace of mind.

Kindly refer to FAQs for further details on our Direct Car Buyer – Seller Loan Program.

Why Get a Car Loan From Speed Credit?

Company Competence​

$1.2 Billion Car Loans Underwritten
50+ Years of Combined Industry Experience
Largest Network of Banks & Financial Institutions
Most-Reviewed Financing Company (400+ 5-Star Reviews)

Competitive Distinction

Lowest & Exclusive Car Loan Interest Rates
No Middlemen & No Mark-ups on Interest Rates
Highest Loan Approval Rate in Singapore
Fast, Transparent & Hassle-Free Service

Free Assistance & Services

Free Handling of LTA & Bank Transactions
Free Financing Advice & Paperwork Assistance
Free Full Settlement & Car Ownership Transfer Assistance
100% No Hidden/Additional Charges

Awards & Accreditations

SVTA Accredited
Spirit of Enterprise (SOE) Awardee
Member of the Hire Purchase Association, Finance & Leasing Association of Singapore (HPFLAS)
Member of the Automobile Importer & Exporter Association Singapore (AIEA)

Procedure & Online Application for Direct Car Buyer - Seller Loan Program

Get a Car Loan in 3 Easy Steps!

Step 1

Fill out our online application form or contact us at (+65) 6444 4400 or (+65) 9851 8281. Instructions and other requirements will be sent to you via email by our car finance expert. Please check your inbox or spam mail.

Step 2

Submit all the requirements and/or signed documents needed via email at loan@speedcredit.com.sg. You will also be advised on the next steps and/or other necessary instructions related to your application.

Step 3

You will be notified by our car finance expert via email and/or call regarding the status of your application.

Eligibility Criteria for Direct Car Buyer - Seller Loan Program

  • Applicants should be between 21 – 65 years of age
  • Singaporeans, Singapore PRs, Foreigners

Requirements for Direct Car Buyer - Seller Loan Program

Buyer

  1. Page 1 of Loan Application Form (1 Copy – Signed, Filled & Completed)
  2. Clear Copy of NRIC (Front & Back)
  3. Income Documents (Any of the Following):
    • Latest 12 Months CPF Contribution Assessment
    • Last 2 Years Notice of Assessment (NOA)
    • Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed
  4. Sales & Purchase Agreement of Purchased Vehicle
  5. Copy of Enquire PARF / COE Rebate for Registered Vehicle

Seller

  1. Vehicle Log Card / Acknowledgement
  2. Clear Copy of NRIC (Front & Back)
  3. Authorization Form To Check Full Settlement (if Vehicle Is Still Under Financing)

Guarantor

  1. Page 2 of Loan Application Form (1 Copy – Signed, Filled & Completed)
  2. Clear Copy of NRIC (Front & Back)
  3. Income Documents (Any of the Following):
    • Latest 12 Months CPF Contribution Assessment
    • Last 2 Years Notice of Assessment (NOA)
    • Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed

Buyer

  1. Page 1 of Loan Application Form (1 Copy – Signed, Filled & Completed)
  2. Clear Copy of Passport
  3. Clear Copy of Employment Pass
  4. Income Documents (Any of the Following):
    • Latest 12 Months CPF Contribution Assessment
    • Last 2 Years Notice of Assessment (NOA)
    • Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed
  5. Sales & Purchase Agreement of Purchased Vehicle
  6. Copy of Enquire PARF / COE Rebate for Registered Vehicle

Seller

  1. Vehicle Log Card / Acknowledgement
  2. Clear Copy of NRIC (Front & Back)
  3. Authorization Form To Check Full Settlement (if Vehicle Is Still Under Financing)

Guarantor (Must be a Singaporean)

  1. Page 2 of Loan Application Form (1 Copy – Signed, Filled & Completed)
  2. Clear Copy of NRIC (Front & Back)
  3. Income Documents (Any of the Following):
    • Latest 12 Months CPF Contribution Assessment
    • Last 2 Years Notice of Assessment (NOA)
    • Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed

Buyer

  1. Page 1 of Loan Application Form (1 Copy With Company Chop – Signed, Filled & Completed)
  2. Clear Copy of ACRA Document (Within 3 Months)
  3. Latest 3 Months Bank Statement
  4. Sales & Purchase Agreement of Purchased Vehicle

Seller

  1. Vehicle Log Card / Acknowledgement
  2. Clear Copy of NRIC (Front & Back)
  3. Authorisation Form To Check Full Settlement (if Vehicle Is Still Under Financing)

Guarantor (Director of Company)

  1. Page 2 of Loan Application Form (1 Copy – Signed, Filled & Completed)
  2. Clear Copy of NRIC (Front & Back)
  3. Income Documents (Any of the Following):
    • Latest 12 Months CPF Contribution Assessment
    • Last 2 Years Notice of Assessment (NOA)
    • Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed

Car Loan Interest Rate for Direct Car Buyers & Sellers

Exclusive at
Speed Credit
From*
1.68%
Interest Rate
Other
Companies
From
2.88%
Interest Rate

*Terms & Conditions apply.

Car loan interest rate offers at Speed Credit ranges from 1.68% – 6.68% and may vary based on vehicle type, loan type, loan amount, repayment period, past and present financial or credit status and other eligibility criteria. We cover various vehicle types such as normal cars, sports and exotic cars, commercial vehicles, Private Hire Vehicles (PHV), rental vehicles, COE cars, vans, lorries, trucks and buses — from light to heavy industry vehicles.

Car Loan Calculator (Monthly Repayment)

Use our Car Loan Calculator to calculate or get an estimate of your monthly instalment repayments for your car.

$0
Monthly Repayment
Disclaimer: Interest rates are estimated and may differ based on credit evaluation and loan amount from banks and financial institutions. This Car Loan Calculator can only be used as a guide to help you to get a better sense of your potential monthly repayment commitments. It does not warrant the accuracy, adequacy or completeness of the figures presented. Speed Credit Pte Ltd explicitly disclaims liability for any possible errors or omissions.

FAQs for Direct Car Buyer - Seller Loan Program

Both car buyers and sellers will find this program useful.
The checklist is long especially when buying pre-owned cars. This is why many car buyers turn to our professional service to verify the rightful car ownership and to seek car financing assistance. Car sellers will also benefit from this program as the car resale process is more convenient and time-efficient.
  1. Car loan application and processing
  2. Verification of information and rightful ownership of car seller
  3. Full administrative support for the transfer of car ownership
  4. Act as a neutral third-party witness to all loan transactions
  5. Act as a neutral party for monetary transaction
  1. Buyer’s income proof (NOA – notice of assessment, and/or 3 months payslips
  2. Buyer’s I/C & driving license front & back
  3. Sales & Purchase agreement
  4. Seller’s I/C
    Vehicle details (Log book, or Log card, or Assets Acknowledgement)
The minimum downpayment is 30% of the car’s purchase price if its OMV is $20,000 or less – otherwise, it would be 40%.
You do not need to immediately pay your outstanding loan. Our direct buyer-seller loan program includes free outstanding loan settlement assistance as this is a part of the car buying and selling process. This will be done by us once the loan is approved.
Yes, we do provide such services. Do send in your enquiry for us to contact you.
Yes, you can. However, please check first with your car dealer if you are allowed to source for or secure a car loan from a different company.

Most banks do not take in direct individual loan applications, they usually prefer to assign loan processing to financing companies to save time and simplify the process even further.

At Speed Credit, we do not only do loan submission. We’ll advise and guide you through the entire process, compare and find you the best bank offer or most suited financing package, and get you the lowest possible interest rate. In addition, we’ll do all the necessary LTA and bank transactions and paperwork for you, and if applicable, assist you on your current loan’s full settlement and on the car ownership transfer too.

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