Financing
Hire Purchase
At Eurokars Financial, we are committed to making hire-purchase financing simple, affordable, and stress-free. Enjoy competitive interest rates and a smooth, transparent experience from application to approval. Let us help you drive your dream car with confidence powered by a financing partner you can trust.
Loan Calculator
Initial Downpayment
Specify your upfront payment.
Note: Minimum: 10% of car price
Loan Tenure (Years)
Choose your repayment period.
Note: Minimum 1 year
1 year
10 year
Interest Rate (P.A.)
Select the annual interest rate applied.
Note: contact us for the latest interest rate package
Monthly Repayment
Disclaimer: Interest rates are estimated and may differ based on credit evaluation and loan amount from financial institutions. This Loan Calculator can only be used as a guide to help you to get a better sense of your potential monthly repayment commitments. It does not guarantee the accuracy, adequacy or completeness of the figures presented. Eurokars Financial Services explicitly disclaims liability for any possible errors or omissions. This calculator is intended to be used for illustrative purposes only.
The loan is up to a maximum loan quantum of 70% of the purchase price if the Open Market Value (OMV) of the vehicle is less than $20,000, or 60% of the purchase price if the OMV of the vehicle is above $20,000.
You can choose a loan tenure of up to a maximum of 7 years (84 months) or for the remaining lifespan of the Certificate of Entitlement (in months), whichever is earlier.
Singaporeans, Singapore Permanent Residents and foreigners aged 21 and above with a minimum monthly income of S$3,000 are eligible to apply for a loan.
The interest is computed on a flat rate basis, calculated upfront as a lump sum based on the flat rate of interest and added to the loan amount to derive the monthly instalment.
The early termination penalty consists of a rebate deductible amount equal to 20% of the interest rebate, as well as an early settlement fee of 1% of the financed amount.
Eurokars Financial will give a loan application status within 2 business days. We guarantee the fastest, most convenient and most hassle-free service on getting your car financing approved.
No, Partial redemption is not allowed.
If the purchase price (less COE) of your car does not exceed $55,000 it will be classified under the Hire Purchase Act. Where the purchase price (less COE) of your car exceeds $55,000 it will be subject to Common Law and will not be classified under the Hire Purchase Act.
No, changing loan tenure or interest rate is not allowed after the Hire Purchase agreement is in force.