Car Insurance and Car Loans
The rates for car loans range between 1.99%- 2.99% per annum. Some banks like DBS and Standard Chartered provide car loans from a minimum of S$10,000 down-payment. Hitachi Capital and Hong Leong Finance are among a handful of companies that have loading fees.
Moving on to car insurances.
The cost to insure a Toyota Corolla Altis 1.6L would come to around S$1200 annually. This would be a standard auto insurance package – a comprehensive insurance plan would start from S$2000.