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Best Car Leasing & Renting in Singapore: The Ultimate Guide (2024)

car leasing singapore

Singapore’s car rental and leasing market is thriving, especially among Millennials and Gen Z, due to the flexibility it offers over ownership.

GetGo Technologies predicts a 50% surge in demand by 2023, spurred not just by Certificate of Entitlement (COE) costs but also by environmental concerns and digital innovations.

So should you rent or lease a car? Leasing typically involves a longer-term commitment, often extending for a year or more, while renting provides a more short-term solution, ranging from a few days to several months.

Each option has its own set of advantages and disadvantages, depending on your needs and lifestyle. This guide explores the best car leasing options in Singapore for 2024, detailing the differences between renting and leasing, their pros and cons, and the top companies you can choose from.

Top Car Rental and Leasing Companies in Singapore

Whether you’re looking for long-term leasing or short-term rentals, Singapore’s car rental market has something for everyone.

At A Glance

Car Rental Company

Best For

Top 3 Features

Rates

Types of Vehicles

BOLT Car Leasing

Long-term leasing

  • Customizable leasing packages
    Comprehensive coverage
  • 24/7 roadside assistance

Starts from $1,300/month

Economical sedans, luxurious SUVs, executive cars

GetGo

Short-term, flexible rentals

  • Hassle-free booking
  • Pay-as-you-go pricing
  • Diverse fleet

Starts at $3/hour

Sedans, SUVs, hatchbacks, electric vehicles

BlueSG

Eco-friendly, point-to-point trips

  • 100% electric fleet
  • 24/7 support
  • Hassle-free experience

Basic plan: $8/month, $0.33/minute

Hatchback and SUV electric cars

Bizlink Rent-A-Car

Comprehensive rental options

  • Competitive prices
  • Wide range of selections
  • Unrivaled service

Short-term: ~$50-$190/day, Long-term: from $1,350/month

Sedans, SUVs, MPVs, commercial vehicles

Auto Exchange Leasing

Car and motorcycle needs

  • Diverse fleet
  • Flexible rental durations
  • White-glove services

Varies, inquire for pricing

Motorcycles, sedans, MPVs, luxury cars

Key insights: BOLT Car Leasing offers customizable packages and comprehensive coverage for those seeking long-term options. 

For flexible, short-term rentals, GetGo’s hassle-free booking and pay-as-you-go pricing are ideal. 

Eco-conscious travelers can opt for BlueSG’s electric fleet, while Bizlink Rent-A-Car provides a wide range of vehicles at competitive prices. 

Auto Exchange Leasing caters to both car and motorcycle needs with diverse options and white-glove services.

Bolt Car Leasing

1. BOLT Car Leasing – Best for Long-Term Leasing

BOLT Car Leasing is a premier car leasing company in Singapore, offering long-term leasing solutions tailored to meet the diverse needs of individuals and businesses. Known for their competitive rates and flexible leasing options, BOLT Car Leasing provides a hassle-free experience for customers looking for reliable transportation without the commitment of ownership.

Features and Services:

  • Customizable Leasing Packages: BOLT offers tailor-made leasing plans to suit various budgets and requirements.
  • Comprehensive Coverage: Their leasing packages include insurance, road tax, and maintenance, ensuring peace of mind for their clients.
  • 24/7 Roadside Assistance: Customers have access to round-the-clock support in case of emergencies.

Rates: Offers attractive rates starting from as low as $1,300 per month, providing cost-effective solutions for long-term car usage.

Vehicles: Ranging from economical sedans to luxurious SUVs and executive cars

Review: 

“I rented a 2014 Golf from BOLT, the maintenance and service support is excellent. it’s now one of my favourite cars. Thanks to the staff there” – Benjamin Chua

GetGo

2. GetGo – Best for Short-Term, Flexible Rentals

GetGo is Singapore’s largest car-sharing service, offering a convenient and flexible solution for those who need a car without the commitment of ownership. With a fleet of over 3,000 vehicles in more than 1,600 locations islandwide, GetGo provides easy access to a variety of cars for different needs and preferences.

Features and Services:

  • Hassle-Free Booking: Users can book, unlock, and lock vehicles through the GetGo app without needing a physical key.
  • Pay-as-You-Go Pricing: Rental rates start from $3 per hour during off-peak periods, with a mileage fee of $0.39 per km for regular cars and $0.29 per km for electric vehicles.
  • No Deposit & Membership Fees: GetGo offers a straightforward pricing model without any hidden costs.
  • Diverse Fleet: The service includes a wide range of vehicle types, from sedans and SUVs to hatchbacks and electric vehicles, catering to various needs and preferences.

Rates: Starts at S$3/hour during off-peak hours to S$21/hour during peak hours (depending on the type of vehicle used). Full day rate starts at S$120.

Vehicles: Sedans, SUVs, hatchbacks, electric vehicles

BlueSG

3. BlueSG – Eco-Friendly, Point-to-Point Trips

BlueSG is Singapore’s first 24/7 electric car-sharing service, offering a unique point-to-point rental experience that allows users to pick up and drop off cars at different locations. With over 500 locations islandwide and a fleet of 1,000 electric cars, BlueSG provides an environmentally friendly, safe, and convenient transportation alternative.

Features and Services:

  • 100% Electric Fleet: BlueSG’s cars are emission-free, silent, and odorless, contributing to a cleaner environment.
  • Point-to-Point Service: Users can drop off the car at their destination without needing to return it to the starting point.
  • 24/7 Support: Round-the-clock service and assistance for users.
  • Hassle-Free Experience: No worries about insurance, maintenance, or fuel.

Rates:

  • Basic Plan: S$8/month with a flat rate of S$0.33 per minute.
  • Six-Month Premium Plan: S$18/month with 40 minutes of free usage.
  • Transparent Pricing: No dynamic pricing or hidden costs.

Vehicles: Hatchback and SUV electric cars

Reviews:

“Love the cute BlueSG car, it’s small, easy to maneuver, and it can be quite convenient to just rent from one place and drop off at another place.” – Ms. Diana Hartono

BizLink Rent A Car

4. Bizlink Rent-A-Car – Best for Comprehensive Rental Options

Bizlink Rent-A-Car is a leading car rental company in Singapore, known for its wide range of well-maintained vehicles and exceptional service standards. They offer a variety of rental options, including short-term, long-term, and corporate rentals, as well as a chauffeur drive service. The company takes pride in its fleet of sedans, MPVs, SUVs, and commercial vehicles, catering to diverse needs and preferences.

Features and Services:

  • Competitive and Affordable Prices: Bizlink Rent-A-Car provides vehicles for every occasion at reasonable rates.
  • Wide Range of Car Selections: Customers can choose from a vast array of cars from different brands.
  • Unrivaled Service: The company is dedicated to delivering the ultimate car rental service quality, guided by the mission “satisfaction is key.”

Rates:

  • Short-Term Rental: Approximately S$50.00 to S$190.00 per day (excluding Goods and Services Tax).
  • Long-Term Rental: Monthly rental rates start from S$1,350. Car lease (>1 month) ranges between S$42 to S$50//day (excluding Goods and Services Tax).
  • Additional Charges: May apply for optional add-ons such as GPS, child seats, and delivery/collection services.

Vehicles: Sedans, SUVs, MPVs, commercial vehicles such as vans and trucks

Reviews:

“Very happy to highly recommend BizLink as a car leasing company. Exceptional service from the team, especially Fiona Lim in the office.” – Vanessa Errington

Auto Exchange Leasing

5. Auto Exchange Leasing – Best for Car and Motorcycle Needs

Auto Exchange Leasing Pte Ltd is a comprehensive car and motorcycle service provider in Singapore, catering to a wide range of automotive needs including buying, selling, renting, financing, leasing, private hire, and personal rentals. They offer an extensive selection of vehicles for both self-drive and chauffeured services, ensuring a suitable option for every customer.

Features and Services:

  • Diverse Fleet: From executive sedans and MPVs to luxury vehicles like Rolls Royce, Mercedes-Benz, and Toyota Alphard, as well as a variety of motorcycles.
  • Flexible Rental Durations: Services range from short-term rentals for a few days to long-term leasing options.
  • White-Glove Services: Committed to providing top-notch customer service at all levels for a pleasant rental experience.
  • Chauffeured Services: Available for those seeking an exquisite and comfortable ride with professional drivers.

Rates: Customers are encouraged to inquire directly for specific pricing details, as rates may vary based on the type and duration of rental or leasing. For example, both the Yamaha MT 15 V2 and the Yamaha XSR 155 are priced at $40.00/day each while the BMW R1200 GS is offered at S$120/day.

Vehicles: Motorcycles, Sedans, MPVs, luxury cars

Reviews:

“Nice and very New Bike. Appreciate their quick response and being very accommodating when I asked for a phone holder. Picking up and dropping off the bike is so hassle-free! Will definitely be back!”Priscillia Wong

Good to Know

Understanding Car Rentals

Car rental services in Singapore offer a convenient and flexible solution for those in need of a vehicle for short-term use. Unlike leasing, car rentals cater to immediate, short-duration needs, ranging from a few hours to several weeks.

In fact, there has been a growth in demand for car rental services in Singapore, according to a CNA report. 

One of the key players in the market, GetGo, a car-sharing platform, has reported a 10 percent month-on-month increase in business over the last six months. This growth is indicative of the rising popularity of flexible car rental services. 

As Toh Ting Feng, co-founder and chief executive of GetGo, puts it, “We operate a flexible car sharing platform. It means that many users can use every single car on a daily basis.”

But why not buy a car?

The increasing costs associated with car ownership, such as higher Certificate of Entitlement (COE) prices, vehicle prices, and maintenance costs, have led many to reconsider the feasibility of owning a car. 

BlueSG, an electric car rental platform, has observed that more people are finding car ownership unachievable. Jenny Lim, head of Singapore for BlueSG, notes in an interview with CNA, “High vehicle car obligations and financial obligations are some things that are not what they want to pay.” 

This sentiment is especially prevalent among the younger generation, who are not only conscious about their financial spending but also about their environmental impact. As a result, car -sharing and rental services like BlueSG are becoming increasingly attractive options.

Top Reasons to Rent a Car

  • Flexibility and Convenience: Renting a car offers the freedom to travel at your own pace and schedule, without the constraints of public transport timetables.
  • Cost-Effective: Avoid the long-term financial commitments associated with car ownership, such as loans, insurance, and maintenance costs.
  • Variety of Choices: Choose your vehicle type based on your current need—be it a compact car for city drives or an SUV for family outings—without the constraints of owning a single model.
  • No Depreciation Worries: With a car rental, you bypass the worries of depreciation, servicing, and the dreaded Certificate of Entitlement (COE). 
  • Hassle-Free Maintenance: Enjoy a well-maintained vehicle without worrying about servicing or repair costs, as these are typically covered by the rental company.
  • Door-to-Door Convenience: Car rental offers door-to-door convenience, making every trip—from your doorstep to your destination—a breeze.
  • A Sustainable Choice: It encourages the use of vehicles only when necessary, potentially reducing the number of cars on the road and, by extension, the carbon footprint.

Key Considerations When Renting a Car

Rental Periods

Determine the duration of your rental, as rates can vary based on short-term (hours, days) or long-term (weeks, months) rentals. Don’t forget to check for minimum or maximum rental periods and any penalties for early returns or extensions.

Costs and Fees

Compare rental rates from different providers to find the best deal. Be aware of additional charges such as taxes, fuel charges, and drop-off fees if returning the car to a different location. Most importantly, ask about any hidden costs or surcharges that may apply.

Insurance Coverage

Understand the insurance options offered by the rental company, such as collision damage waiver (CDW) and theft protection. Check if your personal car insurance or credit card provides coverage for rental cars to avoid paying for redundant insurance.

Vehicle Condition and Features

Inspect the car for any pre-existing damage and ensure it’s documented before driving off. Confirm that the vehicle has all the features you need, such as GPS, child seats, or air conditioning.

Other factors to consider include:

  • Fuel Policy: Clarify the rental company’s fuel policy. Some may require you to return the car with a full tank or charge a premium for refueling.
  • Mileage Limits: Check if there are any mileage restrictions and the charges for exceeding them.
  • Cancellation and Change Policies: Understand the rental company’s policies on cancellations and changes to your reservation, including any fees involved.

Understanding Car Leasing

Car leasing is a popular alternative to car ownership, offering the use of a vehicle for an extended period, typically ranging from several months to a few years. Unlike renting, which is suited for short-term needs, leasing provides a longer-term solution without the full commitment of buying a car.

Assistant Professor Ben Choi from NTU’s Division of Information Technology and Operations Management notes that car-leasing services act as a “bridging mechanism” between owning a car and having one only when needed. However, he also acknowledges complaints about the availability of shared vehicles.

Additionally, Kinto One leasing, a long-term car leasing service in Singapore, has seen up to 20 percent growth month on month since 2022, according to Mr. Evert Ong, head of Kinto Singapore. With prices starting at about $1,600 a month, customers have the flexibility to choose different vehicles for different stages of life, such as a sedan for errands and an SUV when becoming a parent.

Benefits of Leasing a Car for Long-Term Use

  • Fixed Monthly Payments: Enjoy predictable expenses with fixed monthly lease payments.
  • No Depreciation Concerns: Avoid the depreciation costs associated with car ownership.
  • Latest Models: Access your dream car or the latest car models with the latest technology and safety features.
  • Maintenance and Repairs: Leasing contracts often include maintenance and repair services, reducing unexpected costs.
  • Flexibility: Easily upgrade or change vehicles at the end of the lease term to suit changing lifestyle needs.

Factors to Consider When Choosing a Leasing Plan

  • Lease Terms: Understand the duration of the lease and any penalties for early termination. Consider your long-term needs and whether the lease term aligns with them.
  • Monthly Payments: Evaluate the affordability of the monthly payments and how they fit into your budget. Compare different plans to find the best value for your desired vehicle and lease term.
  • Mileage Limits: Check the annual mileage limit and the charges for exceeding it, as this can significantly impact the cost of your lease.
  • Maintenance and Repairs: Clarify what maintenance and repair services are included in the lease agreement. Ensure that the coverage meets your needs and that you understand any responsibilities you may have.
  • Vehicle Options: Consider the range of vehicles available under the leasing plan and whether they meet your preferences and requirements.
  • Insurance: Determine what insurance coverage is provided with the lease and whether additional coverage is necessary.
  • End-of-Lease Options: Understand your options at the end of the lease, such as purchasing the vehicle, extending the lease, or returning the car.

Comparing Car Rentals vs. Leasing

Car rentals and leasing serve different purposes and come with their own sets of advantages and disadvantages. Here’s a detailed comparison to help you decide which option might be more suitable for your needs.

AspectCar RentalsCar Leasing
DurationShort-term (hours, days, weeks)Long-term (months, years)
FlexibilityHigh (easy to rent for specific needs)Lower (long-term commitment)
CostPay per useFixed monthly payments
MaintenanceHandled by the rental companyOften included in the lease agreement
Vehicle ChoiceWide variety, easy to changeLimited to what’s available in the lease contract
CommitmentLowHigh
DepreciationNot a concernNot a concern

Pros and Cons

AspectCar RentalsCar Leasing
ProsHigh flexibility, no long-term commitment, a wide variety of vehiclesFixed monthly payments, includes maintenance, access to new models
ConsCan be expensive for long-term use, limited customization optionsLong-term commitment, mileage limits, penalties for early termination

Car Rental or Car Leasing: Which One is For You?

Car rental is your go-to for short-term, flexible needs or specific occasions, offering a hassle-free way to get a car without the long-term commitment. Car leasing, on the other hand, serves well for longer durations, providing cost-effective, worry-free use of a car with the perks of ownership but without its burdens.

Here’s a breakdown of situations where one might be preferable over the other:

Car Rental: Best for Short-Term Needs

  • Vacations or Short Trips: If you’re visiting Singapore or planning a short getaway, renting a car offers the flexibility to explore at your own pace without long-term commitments.
  • Special Occasions: Need a luxury car for a wedding or a spacious SUV for a family event? Renting allows you to choose the perfect vehicle for special occasions without the hefty price tag of ownership.
  • Business Travel: For business professionals visiting Singapore for a few days or weeks, renting a car ensures mobility and convenience around the city without the need for long-term leasing agreements.
  • Temporary Replacement: When your own vehicle is in the shop for repairs, a rental car can keep you on the move without disruptions to your daily routine.

Car Leasing: Best for Long-Term Requirements

  • Extended Stays: Expats or individuals residing in Singapore for an extended period (several months to a few years) might find leasing more economical than renting in the long run due to lower monthly payments.
  • Fixed Budgets: Leasing a car offers the advantage of a fixed monthly expense, including maintenance and insurance costs, which is ideal for those who prefer consistent budgeting without surprises.
  • Avoiding Depreciation Costs: For those who like driving newer models without the hassle of selling an older vehicle at a loss, leasing allows you to enjoy the latest models without worrying about depreciation.
  • Business Use: Companies looking to provide vehicles for their employees without the capital outlay of purchasing can benefit from leasing, which also offers tax advantages and customizable contracts to fit business needs.

Tips for Choosing the Right Service

1. Assess Your Needs

  • Duration: Determine if you need a car for a short trip or a long-term lease.
  • Purpose: Consider the purpose of the rental, such as business, leisure, or special occasions.
  • Passengers and Cargo: Think about the number of passengers and the amount of luggage or cargo you’ll have.

2. Research Providers

  • Reputation: Look for providers with positive reviews and a good reputation for customer service.
  • Fleet Variety: Check if the provider offers a wide range of vehicles that suit your needs.
  • Pricing: Compare rates and look for transparent pricing with no hidden fees.

3. Ask the Right Questions

  • Insurance Coverage: What type of insurance is included, and what are the coverage limits?
  • Mileage Limits: Are there any restrictions on mileage, and what are the charges for exceeding them?
  • Maintenance and Breakdown Assistance: What kind of support is provided in case of a breakdown or maintenance issue?
  • Cancellation and Change Policies: What are the policies for canceling or changing a reservation, and are there any fees involved?

4. Additional Services

  • GPS and Wi-Fi: Check if the provider offers additional amenities like GPS navigation systems or Wi-Fi connectivity.
  • Child Seats: If traveling with children, inquire about the availability of child safety seats.

5. Read the Contract Carefully

  • Terms and Conditions: Make sure you understand all the terms and conditions before signing the rental agreement.
  • Fuel Policy: Understand the provider’s fuel policy to avoid any unexpected charges.

Final Word

Whether you opt for car rental or leasing in Singapore, it’s essential to assess your needs, research providers thoroughly, and ask the right questions to ensure you choose the best service for your requirements. 

Key Takeaways

  • Renting a car offers short-term flexibility, while leasing provides a long-term solution without the full commitment of ownership. Consider your duration and purpose before deciding.
  • Assess the total cost of renting or leasing, including additional charges such as insurance, maintenance, and mileage limits. Compare rates from different providers to find the best deal.
  • Explore the variety of vehicles available to suit your needs, and inquire about additional services like GPS, Wi-Fi, and child safety seats for a convenient and safe experience.

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