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.
At the moment, our COE Renewal Loan interest rate starts from 2.78% – this interest rate may vary from time to time. To check our current interest rate offer(s) please fill out our enquiry form and our car finance and COE expert will then contact and advise you on this.
As for the repayment period, it depends if you are opting for a 5-year (4 years repayment) or a 10-year COE renewal (7 years repayment).
There is a one-time admin fee and it varies from the range of loan packages we offer.
There is no difference in PQP between OPC/ROPC and Normal car.
We provide 100% financing based on the PQP amount. However, on a case-by-case basis, we do offer more than 100% PQP at a higher interest rate for passenger vehicles.
Loan submission ➜ loan approval ➜ signing of agreement ➜ COE renewal.
Yes, but please take note that if you renew your COE early, LTA will forfeit the remaining PARF & COE rebate of your vehicle. Below is an example for your reference:
Situation:The COE expiring is on 15 April 2021 and you wish to renew your COE early in January 2021.
Renewal Process:The COE will be renewed using January’s PQP, and the COE expiry will then change from 15 April 2031 to 31 January 2031.
Please submit your application as early as possible as the COE has to be renewed before the end of January.
With the largest network of banks, financial institutions, and insurance partners, Speed Credit has been offering tailored car financing and car insurance solutions for all types of car owners in Singapore.
Having over 50 years of combined industry experience, Speed Credit has underwritten more than 1.7 billion car loans and has served more than fifty-five thousand car owners in Singapore.
We have always been committed to offering the lowest car interest rates, with the most flexible and comprehensive financing packages as we want to ensure that all our customers get the most value for their car and loan.