Financial Services

Indicative rates from 2.68%.
Subject to lender approval.

Singapore's seamless path to used-car ownership: indicative rates from 2.68% p.a. through MAS-regulated banks, flexible tenures, and an approval process designed around efficiency. Tailored solutions from the Wheeley finance desk. Rates subject to credit assessment and lender approval.

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Indicative Rates From 2.68%

Eligible buyers may qualify for lower downpayments within MAS loan-to-value limits. Subject to lender approval and credit assessment. Terms and conditions apply. Indicative rate from 2.68% p.a.

Estimate Repayments

Financing Options

Tailored loan packages from Singapore's most trusted banks.

Whether you want the lowest monthly outflow or the shortest path to outright ownership, we structure every deal around your budget and timeline "— not the lender's quota.

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Standard Hire Purchase

The most common arrangement in Singapore. Own the car outright once the loan is fully repaid. Tenure up to 7 years, with optional early settlement.

check Up to 70% loan-to-value
check Fixed rates only (no floating on car loans)
check Early repayment penalty or rebate varies by bank

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Flexible Downpayment

Standard downpayment is 30"—40% "— cash or trade-in value. Lower downpayments are available as an option through Wheeley's in-house financing desk for strong profiles, within MAS loan-to-value limits.

check Subject to in-house or bank approval
check Trade-in value counts as downpayment
check In-house option made available depends on profile and requirement

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Refinancing

Already financing a car elsewhere? Refinancing works as a settle-and-reloan process: we settle your existing loan and set up a new one. Useful to free up cash or to lower your monthly when rates drop.

check Settle-and-reloan via our bank panel
check Cash-out against equity or PARF/COE rebates
check 1"—3 working days end-to-end

Eligibility

What lenders look at.

Lenders assess a small set of hard rules under MAS Notice 637 and TDSR guidelines. The maximum loan depends on the car's OMV: 70% LTV (30% downpayment) for OMV â‰¤ S$50,000, or 60% LTV (40% downpayment) for OMV above S$50,000. Your total debt servicing ratio must stay below 55% of monthly income. We run through the numbers with you before you apply so you know the answer before the bank does.

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Singaporean & PR

Minimum age 21, with at least 3 months of payslips or 2 years of income tax notices for self-employed applicants.

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Foreigners & Expatriates

Employment Pass and S Pass holders welcome. Banks look at your work permit, letter of employment, and sufficient financial standing to support the monthly repayment "— no fixed minimum income.

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Downpayment

MAS Notice 637 sets the LTV limit: 30% downpayment for cars with OMV â‰¤ S$50,000, or 40% for OMV above S$50,000. Cash or trade-in counts. In-house option for lower downpayments may be available for strong profiles "— subject to assessment.

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Tenure & Rates

Up to 7 years for normal hire purchase (10 years for PHV loans). Indicative rates from 2.68% p.a. through our bank panel, and from 3.28% p.a. through Wheeley's in-house financing desk. Car loans are fixed-rate only "— no floating option.

Wheeley Auto · Woodlands

The Wheeley Experience

Every key, every handshake "— handed over the same way.

The Wheeley Process

1

Digital Application

Loan applications are submitted online through your bank's portal "— most accept SingPass for instant sign-in. Just drop us an email with the basic details and we will share the application link.

2

Swift Assessment

Our financial partners review your profile. Most preliminary approvals are completed within a single business day.

3

Drive Away

Sign the final documents electronically or in-person. Collect your keys and enjoy your new vehicle.

FAQ

Financing, answered.

The five questions our desk hears every week "— with the no-spin answers.

What is the maximum loan tenure?add

Up to 7 years for normal hire-purchase loans. 10-year tenures are available only for PHV (private hire vehicle) financing. For COE-balance cars with 2"—3 years remaining, we typically recommend 5"—7 years so the loan ends before the COE expires. Both PARF-rebate and COE cars are eligible for financing.

What is the minimum downpayment?add

Under MAS Notice 637, the maximum loan-to-value (LTV) depends on the vehicle's OMV: 70% LTV (30% downpayment) for cars with OMV at or below S$50,000, and 60% LTV (40% downpayment) for cars with OMV above S$50,000. Cash or trade-in value counts toward the downpayment. A lower downpayment may be available through Wheeley's in-house financing desk for strong profiles "— subject to assessment, not an entitlement.

What interest rate should I expect?add

Indicative rates from 2.68% p.a. through our bank panel, and from 3.28% p.a. through Wheeley's in-house financing desk. Car loans are fixed-rate only "— there is no floating option for vehicles. Your actual rate depends on income, credit history, vehicle age and loan tenure. We benchmark across our bank panel for you.

Do you help with refinancing?add

Yes. We compare your current rate across our bank panel, handle the settlement letter from your existing financier, and arrange the new loan "— most refinances complete within 1"—3 working days. Refinancing works as a settle-and-reloan process, like a resale: useful when you want to free up cash (extend the loan against the equity for higher monthly), or when interest rates have dropped and you want a lower monthly repayment.

How long does approval take?add

Approval is typically returned within 1"—3 working days once we have your payslips, NRIC and a completed application "— our fastest to date has been 1 day. Once approved, the letter of offer is issued immediately.

Still planning your next step?

Our financing desk is open 7 days a week. Get a real number in under an hour.

Speak to the Desk forum

What our finance desk hears weekly

A short note on rates, refinancing and approval "— straight answers from our finance desk.

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Indicative rates from 2.68%.Subject to lender approval.