Used Car Loan

Give Yourself the Best Chance To Get a Great Loan Deal

Used 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 Rate for Your Used Car Loan

Our used car loan can help you save hundreds to thousands of dollars. Find out how we can help finance your used car, get you the lowest interest rate, and help you save time through our hassle-free and seamless loan process.

Driving Used Car Loans Further

Since 2000, we have helped thousands of Singaporeans, Singapore PRs, and Foreign Workers in financing their used cars. As we have the largest network of banks and financial institutions and have established a good working relationship with each of them, we have earned the capability of getting you the lowest used car interest rates. Speed Credit can compare rates for you, get you the lowest interest rate (or at times, special interest rates that are only exclusive to us), and get you approved in the shortest possible time.

Our expert car finance experts are with you every step of the way! We give every customer a personalised service so you can rest knowing you’ve secured a great loan deal that suits your budget, needs, and current financial status. You don’t have to worry about a single thing too, as we’ll handle all the paperwork, bank, and LTA processing for you. Save time, save money, and enjoy a fast and easy process for your used car loan!

Used Car Loan Options Suitable for Everyone

Get more car loan options for your used car through Speed Credit. Whether you’re buying a used car from a private seller or a dealer, or a company, we can help secure the best rates and loan terms for you. It is our goal to help get you more savings so you can reserve more cash for your current and future needs. Our car loan options have been tailored to every financial status and need. Leave all the processes and paperwork to us – we’ll do all these for you at no charge.

Do you have bad credit and have been declined by other banks? Speed Credit has been known for being one of the go-to financial companies for people who have had difficulties in getting their car loans approved. Together with our car finance experts, we’ll do our best to help you, no matter the circumstances. Talk to us, let us know more about your challenges and credit history – together, we can make things happen.

Why Get a Used 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 Used Car Loan

Get a Used 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 Used Car Loan

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

Requirements for Used 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

Used 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.

Used Car Loan Calculator (Monthly Repayment)

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

Loan Applicants should be:
  • Singaporeans, Singapore PRs, Foreigners
  • Applicants should be between 21 – 65 years of age
Used car loan approval usually takes 1-2 working days. Our car finance expert will inform you about the status of your application via phone/WhatsApp/email.
For used car loan application follow-ups, please contact us at +65 6444 4400 or +65 9851 8281.
Yes, we will do the car ownership transfer for you at no charge.
At Speed Credit, we do not charge any application fee for used car loans.
Processing time depends on several factors. However, at Speed Credit, it usually takes 1-2 working days.
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