Car Loan
Compare car financing from 15+ banks and finance companies — completely free
Financing Your Car, Made Simple
Whether you’re financing a vehicle purchase or covering the cost of a COE renewal, COEPLUS compares loan offers from over 15 banks and finance companies on your behalf, at no cost to you. You see your options side by side and choose what works best for your situation.
Our service is free from start to finish — no fees, no hidden charges, no obligation to proceed.
How It Works
| Step | What Happens |
|---|---|
| 1. Apply | Submit your application — use SingPass MyInfo to pre-fill your details in seconds, or fill in the form manually. |
| 2. Compare | We match your application against our panel of banks and finance companies and present the offers available to you. |
| 3. Choose | Review interest rates, loan tenure, and monthly instalments side by side, and select the offer that suits you. |
| 4. Proceed | Your chosen financing is arranged and coordinated through COEPLUS from start to finish. |
What Affects Your Loan Rate
- Loan tenure — shorter tenures typically carry lower total interest, though monthly instalments are higher. Most car loans go up to 7 years.
- Loan amount relative to vehicle value — how much you choose to finance versus pay upfront affects the rate offered.
- Vehicle age and remaining COE — lenders factor in the vehicle’s remaining COE life when assessing terms. Most lenders cap the loan tenure at the vehicle’s remaining COE period.
- Your credit profile — as with any financing, your credit history affects the rate you’re offered.
Because rates and terms vary meaningfully between lenders, comparing multiple offers rather than accepting the first one is usually the difference between an average deal and a genuinely good one — which is exactly what COEPLUS does for you.
Eligibility
- Valid NRIC or Singpass for identity verification
- Stable income, evidenced by NOA, payslips, or CPF contribution history
- Self-employed applicants are welcome — bring your latest NOA and 6-12 months of bank statements
- No adverse credit history that would affect lender approval
Estimate Your Monthly Instalment
Car Loan Calculator
Estimate your monthly car loan instalment — adjust the fields below for an instant result
Frequently Asked Questions
How long does approval take?
Most banks respond within 1–3 working days once all required documents are submitted.
Can I get pre-approved before deciding on a vehicle?
Yes — knowing your financing options in advance gives you a clearer budget and a stronger position when finalizing your purchase or renewal.
Is a co-borrower or guarantor required?
Not typically for salaried applicants with stable income. Self-employed or lower-income applicants may be asked for a co-borrower at the lender’s discretion.
What if I already have an existing car loan?
Refinancing an existing loan at a better rate may be possible — speak with us and we’ll check what’s available through our panel.
Ready to Compare Your Financing Options?
Join 5,000+ satisfied customers who financed their vehicle or COE renewal through COEPLUS — completely free of charge.
