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Author: admin | Category: Auto Rate Calculator | Date: 28.04.2016

Having partnered with 13 of the best financial institutions in Singapore, we are confident that we can get you the best car loan deal!
Speed Credit is partnered with 15 of the best car insurance companies in Singapore, so really, getting you the cheapest quotes will be a breeze! Speed Credit Pte Ltd Speed Credit Pte Ltd (Business Registration #200000423N) specialises in new & used car loan in Singapore. Other car financing services offered includes refinancing car loan, COE renewal car loan, commercial vehicle loan and in-house car auto loan. Used Car Dealer Singapore Aside from being a top-notch auto financing company, we have also grown as one of the leading used car dealers Singapore. The amount of money you intend to pay on your own that is not covered by the loan you will be taking from a bank.
The coverage type you select determines the level of protection offered by your insurance policy.
This is a discount that is offered by your insurance provider if you have not made a claim on your existing insurance policy for a certain number of years.
One of the primary considerations in obtaining any type of loan is the borrower’s credit score.
Credit scores between 740 and 850 qualify as excellent, while scores of 680 to 739 are considered good.
Other options, such as a buy-here-pay-here auto dealer or buying a used car, may be a better choice if your credit score is low. When you fill out an auto loan application, you’ll be asked to give information on your current and past employers.

Lenders will also consider factors such as your debt-to-income ratio, which provides insight into your income compared to how much you’re already paying out in monthly payments. You can mitigate some of the maintenance costs by opting into a warranty plan or a dealership maintenance program.
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Fill up the form here to receive 5 of the most competitive car insurance quotes in Singapore. All interest rates, amounts and terms are based on a personal simulation by you and your assumptions of same. Comprehensive : Covers damage of your car as a result of fire, theft and damage (inclusive of third party damages). But with today’s climate of strict lending practices, it’s not always easy to get financing for your new car.
If your score is lower than 679, you may have more trouble qualifying for a loan, or you might have to deal with a higher interest rate. However, you should also keep in mind that vehicles purchased under these conditions tend to be older models of car with more problems. Lenders are generally more willing to offer loans to borrowers who have been employed at the same company for at least a few years. It’s just a simple fact that, in the post sub-prime world, lenders are required to be extra-careful when it comes to awarding loans to private buyers.

If your monthly payment will stretch you financially, lenders are more hesitant to offer loans. In fact, for newer cars (3 years or less) with fewer than 36k miles, you’re almost invariably covered by a free bumper-to-bumper warranty program at no cost. Look at a US Auto Insurance quotes page to get an idea of how much it could cost to insure your car of choice.
Make sure you’re prepared with proof of income, employment history and a good credit score before you start shopping. If this is your first time financing a car, it’s important to note that your credit score might also receive extra scrutiny.
If there are gaps in your employment history or you change jobs often, you could have a harder time qualifying for a car loan.
But don’t despair if your work history is spotty; often, you may find that local credit unions will be more flexible than larger banks when it comes to these requirements. When shopping for a new car, have an idea of how much you can affordto pay each month and look at cars within your price range.
So this should be another crucial factor when it comes to deciding between a brand new car and a pre-owned vehicle. Lenders reward borrowers with a solid credit history with lower rates, saving them money over the course of the loan.

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