New Car Loan

Let Us Help You Hit The Road in Style

New 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.

Lowest Interest for Your New Car Loan

Looking to buy a new car? We know that there’s nothing quite like it – from its modern and sleek look, the satisfying feeling it gives to the exciting new technologies and features that come with it. While buying a new car costs a little more, it’s often money well spent.

Bringing You the Best New Car Loan Package

Get the best new car loan options through Speed Credit. We can help secure the best rates and most flexible loan terms and repayment period for you. It is our goal to help get you more savings to help keep your cash flow for your current and future needs. Our new car loan options have been tailored to every financial status and needs. Leave all the processes and paperwork to us – we’d do all these for you at no charge.

Why Get a New 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 New Car Loan

Get a New 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 New Car Loan

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

Requirements for New Car Loan

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

New Car Loan Interest Rate

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.

New Car Loan Calculator (Monthly Repayment)

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

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.
The minimum downpayment is 30% of the car’s purchase price if its OMV is $20,000 or less – otherwise, it would be 40%.
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