Q2. What is the payment schedule?
The payment milestones for the car purchase are summarized in the table below.
|1||Booking deposit||Upon signing of sales agreement|
|2||CIF to overseas exporter||Before vehicle shipment to Singapore|
|3||COE bid deposit (if applicable)||Prior to COE bidding by seller|
|4||Customs excise duty & GST||Singapore customs clearance|
|5||Balance payment (less loan)||Before vehicle registration|
Q3. How long will it take before buyer can drive off the vehicle ?
Typically, it should take 3-5 months, depending on the origin of the car as well as whether it is a ready stock or a factory build vehicle.
Q4. What is the new car financing interest rate ?
Currently, the loan interest rate for new cars starts from 1.88%. To know the loan installment amount, you can try this loan calculator.
Q5. How long will it take for COE to be bidded ?
We offer a value-added service to bid for the COE on the Buyer's behalf though we do not profit from the process.
However, the Buyer can also opt to do self-bidding of COE.
You can view the latest COE bidding results here.
Q6. Does the vehicle come with any warranty ?
Yes, the vehicle that our company imports in for you comes with a comprehensive 3/5 years warranty coverage (terms and conditions apply).
For continental/Asian ICE vehicle models, the warranty programme will be underwritten by:
- QBE Insurance - authorized workshop: MBM WheelPower or,
- Liberty Insurance - authorized workshop: Optima Werkz