Are you living in Singapore wondering whether long-term car rental is a viable option for you? Below is a list of pros and cons, which will be a useful guide to your booking car rental.
Owning a car in Singapore is such an expensive endeavor, with various fees and charges such as goods and services tax, the initial cost of purchase, registration fees, additional registration fee, special tax, certificate of entitlement, road tax, and carbon emissions-based vehicle scheme being involved. Given the above costs, car leasing may turn out to be the most ideal option.
There are thousands of vehicles out there just for hire and am sure if you browse through car rental Singapore, you’ll just be lost of choice. But, before making any decision, it is important that you have a look at the following pros and cons.
- Public transport is inconvenient, expensive and involves a lot of hassle. But, a long term car rental can be less expensive and convenient.
- With a rented car, insurance and road taxes are none of your concern. They are all included in the package offered by the company. Once you have settled the payment upfront, there isn’t any other additional cost apart from the normal expenses such as car parking fee and fuel. Also, the maintenance and replacement of worn-out parts is the responsibility of the vehicle owner.
- Most long term car rental Singapore companies offer new cars and therefore you get a chance to drive the vehicle when it is less troublesome.
- Long-term car rental offer freedom since there are no returns or contract renewals as monthly agreements are filled out and signed upon pick.
- You don’t get bothered about depreciation and variation in car’s trade-in value and it spares you the hassle of finding a customer at the time of disposal.
- While booking car rental, you can pick the perfect car depending on your business or personal needs. Also, you have a chance to drive the latest models of vehicles, and ones that are generally covered by the manufacturer’s warranty, which sometimes include free oil changes and some scheduled maintenance.
As attractive as car leasing may appear, it has its own drawbacks
- With car renting, you’re investing your money in something that will eventually be handed back to the owner.
- Leasing contracts give a restricted number of miles and anything above that limit attracts extra charges.
- Opting out of the lease before expiry attracts some early termination fee and penalties
- If you do not keep the vehicle in good shape, you are expected to pay an extra amount for wear and tear when returning the vehicle.
- Car Leasing is very tempting, today you lease this tomorrow that, and the monthly payments go on forever.
Having analyzed the pro and cons, I am sure it’s clear now that car leasing comes with a bunch of benefits that you cannot ignore. So, if you are a Singaporean, interested in car renting, browse through long-term car rental Singapore, and make a booking today!