Singapore is a small place. However, there are little to no shortages of places to visit and conduct business by both locals and tourists alike. There are plenty of landmarks and interesting places to see in such a minuscule place. Hence short and long term car lease in Singapore is still an option for many first-timers and experienced veterans alike.
There’s no denying that the cost of owning a vehicle in Singapore can be expensive. Having a car offers different ways to get around the city without dealing with public transport and the inconvenience of waiting in line for a taxi. However, not all have the opportunity to own and drive a car. Therefore, opting for a van lease or daily car rental in Singapore can be an excellent choice for travellers and locals.
However, it can be confusing for starters if renting or leasing a vehicle might be a better option.
Renting A Car – Understanding The Basics
While many are familiar with renting a car, regardless of whether they have prior experience or none, it’s vital that we look up and understand the definition and weigh the pros and cons of opting for a daily or weekend car rental in Singapore.
Hiring or renting a car pertains to renting any automobile at a given period for public use, be it for a few hours or a week-long duration. Many car rental services can cover standard auto insurance if you have one. However, if you don’t, you may want to opt for coverage, as some agencies will provide you with auto rental insurance along the way.
One can opt for a wide range of vehicles, from prestige models to SUVs and passenger vans. Some may opt for car rentals for airport and city travel. Car rentals are subjected to several conditions and may vary depending on the agency dealer or country.
The Pros And Cons of Renting A Car
Advantage: More frequency to change a car.
Clients can change their car once the rental contract and agreement expire when opting for a weekend or daily car rental. It gives more opportunities for many to experience various types of vehicles along the way in less than a year. Drivers can rent a pool of cars to accommodate different needs, from travelling with friends and family to practical use for transport errands.
Advantage: Better mileage.
Whether you’re opting for a daily or weekend car rental from your local agencies, newer models are more viable options for rental services. Going for the latest vehicle models provides better mileage, which means more extended trips, especially for those who have driven older vehicle models.
Advantage: Affordable way of ‘owning’ a car.
While renting a car does not make you own the vehicle in a technical and legal sense, even if you opt for a daily car rental, it becomes a viable option if you are willing to have one for your needs. Unlike buying a brand new car, which often is a more expensive option, renting a van or an SUV for your family vacation needs offers a convenient, hassle-free and affordable route of having a ride rather than paying thousands of bucks.
Cons: Choices for car models are limited.
If you are planning to opt for a weekend or daily car rental, you should be aware that renting depends on the available model of the vehicle. In some cases, the car model you are planning to drive may not be available at the dealer. It is because some of them depend on the current popular options.
Cons: Strict terms and conditions.
Some car rental agencies may have stringent policies and conditions. Renters should be aware and cautious about using vehicles before renting their choices to ensure that they adhere to the strict terms and conditions. Otherwise, they may end up in an inconvenient situation, which increases the rates along the way.
Leasing A Car – Understanding The Basics
Whether it’s a short or long term car lease in Singapore, leasing a vehicle is still an affordable option for buying a new one. However, unlike renting a car, leasing often lasts two to four years, depending on the agreement and dealer. Some may last almost a year or more than four years. It’s also a must that you have your own insurance policy before leasing a vehicle.
The Pros & Cons of Leasing A Car
Advantage: Leasing a car costs less than renting.
Whether you’re looking for an SUV or Mercedes, leasing in Singapore is more affordable than renting a car for a couple of weeks or months in the same model. Hence, leasing a vehicle may appeal more for long-term use than renting.
Advantage: Leasing offers a wider range of car selections.
For drivers looking for more choices, leasing grants more options than renting. Unlike rental companies that offer smaller models and vehicle type selections, car lease dealerships may offer more choices between several car models, from new ones to older variants. So whether you’re looking for an SUV, van or Mercedes leasing, you can expect more pools of vehicles in leasing.
Advantage: Leasing enables you to buy the vehicle at the end of the lease.
What could be more of a solid option than buying out the car by paying the rest of the car’s value? Car leasing may be the pathway to a cheaper way of buying a new vehicle at the end of the lease.
Cons: It takes years to finish the lease.
If you are someone who wants to change the vehicle you are using in a year, a long term car lease may not be the right choice for you. However, there are a few short term car leases that may expire after a 12 months period.
Cons: It takes an amount of time to finalise the contract.
There is plenty of paperwork in leasing a car than renting. Some dealerships may look and base your income and credit score before getting approval to ensure you can afford the monthly payments.
If you are looking for a long term car lease or electric car rental in Singapore, visit MyCarriage for more info.