Commercial Vehicle Loan
Keep Your Business on the Road
Commercial Vehicle Loan at a Glance
From*
2.99%
Interest Rate
Since 2000
100%
Approval Rate
As Fast As*
1-2 Days
Loan Approval
Up To*
7 Years
Loan Tenure
Up To*
90%
Financing
*Terms & Conditions apply.
Helping Businesses Move Forward With Our Flexible Commercial Vehicle Loans
At Speed Credit, we believe that commercial vehicle finance should be like any other business process, designed to work with your cash flow and help yield maximum benefits and savings – so you can just go about the day-to-day running of your business with peace of mind.
We work with the major banks and financial institutions directly (no other middlemen and no markups!) and can offer you the best vehicle finance options possible. Our loan procedures and plans were tailored to be easy, convenient, and hassle-free to help you save time, think less, and just focus on your business.
Commercial Vehicle Types That We Finance
- Light Goods Vehicle (MLW ≤ 3,500kg)
- Heavy Goods Vehicle (3,500kg < MLW ≤ 16,000kg)
- Very Heavy Goods Vehicle MLW > 16,000kg
- Goods-cum-Passenger Vehicle
- Private Bus
- Private Hire Bus
- School Bus
- Excursion Bus
- Omnibus
What Is a Commercial Vehicle Loan?
A commercial vehicle loan is a type of car loan/business loan that can help cover the cost for your business’ new or used truck, van, bus, and other vehicles classified under Category C (Goods Vehicles and Buses). Which commercial vehicle loan plan is best for your business? Well, it depends on a range of factors, including but not limited to your vehicle type, financial requirements, current financial status, and taxation needs.
How Do Commercial Vehicle Loans in Singapore Work?
In Singapore, a commercial vehicle loan breaks up the cost of a vehicle into manageable payments over a period of time (loan tenure), plus interest. It often consists of upfront costs, interest rates, and fees (if applicable), and the repayment term. On a case-by-case basis, lenders will cover up to 100% of the cost for a new vehicle, but not for used vehicles. The interest rates, fees, and loan terms depend on various factors, such as your preference (as long as it meets the minimum loan requirements) and the lender’s terms.
Why Get a Commercial Vehicle Loan From Speed Credit?
Company Competence
$1.7 Billion in Car Loan Transactions
50+ Years of Combined Industry Experience
Largest Network of Banks & Financial Institutions
Most-Reviewed Financing Company (650+ 5-Star Reviews)
Competitive Distinction
Lowest & Exclusive Car Loan Interest Rates
Direct, No Middleman & Mark-up Free Interest Rates
Highest Loan Approval Rate in Singapore
Fast, Transparent & Hassle-Free Serviced
Free Assistance & Services
Free Handling of LTA & Bank Transactions
Free Financing Advice & Paperwork Assistance
Free Full Settlement & Car Ownership Transfer Assistance
100% No Hidden/Additional Charges
Awards & Accreditations
SVTA Accredited
Spirit of Enterprise (SOE) Awardee
Member of the Hire Purchase Association, Finance & Leasing Association of Singapore (HPFLAS)
Member of the Automobile Importer & Exporter Association Singapore (AIEA)
What Makes Us Different From the Rest
Lowest Interest Rates
With the largest network of banks and financial institutions, we can shop for the best and lowest interest rates for you to help get you the vehicle that you need for your business.
Expert Knowledge
We’ve been doing Commercial Vehicle loan services for more than 2 decades now, making us capable of providing you with the best guidance and advice on your commercial vehicle loan.
Personalised Service
We understand that every client, needs and application is different. Our car finance experts are well-trained and proactive, and are always happy to give personalised service.
Lifetime Support
Our support to you doesn’t end after the loan approval. We’ll look after you through the entire duration of the loan and help you with your questions and loan-related needs.
Commercial Vehicle Loans Tailored for Every Need
Commercial Vehicle COE Renewal Loan
From 3.50%
Interest Rate
Up to 100%
Financing
Procedure & Online Application for Commercial Vehicle Loan
Get a Commercial Vehicle Loan in 3 Easy Steps!
Step 1
Fill out our online application form or contact us at (+65) 6444 4400 or (+65) 9851 8281. Instructions and other requirements will be sent to you via email by our car finance expert. Please check your inbox or spam mail.
Step 2
Submit all the requirements and/or signed documents needed via email at loan@speedcredit.com.sg. You will also be advised on the next steps and/or other necessary instructions related to your application.
Step 3
You will be notified by our car finance expert via email and/or call regarding the status of your application.
Eligibility Criteria for Commercial Vehicle Loan
- A Singapore-incorporated company (including sole proprietorship & partnership) with at least two years of active business operation. For startups or new companies, the principal owner should at least have two years of active business experience.
- Alternatively, you may be a new set up with your principal owner having at least two years active business experience
- Personal guarantees of the Principal Director for Private Limited companies, Business Owner of Sole Proprietorship companies, and all partners/shareholders for Limited Liability Partnerships (LLPs) companies.
- Applicants should be between 21 – 65 years of age
Requirements for Commercial Vehicle Loan
Company
Buyer
- Page 1 of Loan Application Form (1 Copy With Company Chop – Signed, Filled & Completed)
- Clear Copy of ACRA Document (Within 3 Months)
- Latest 3 Months Bank Statement
- Sales & Purchase Agreement of Purchased Vehicle
Seller
- Vehicle Log Card / Acknowledgement
- Clear Copy of NRIC (Front & Back)
- Authorisation Form To Check Full Settlement (if Vehicle Is Still Under Financing)
Guarantor (Director of Company)
- Page 2 of Loan Application Form (1 Copy – Signed, Filled & Completed)
- Clear Copy of NRIC (Front & Back)
- Income Documents (Any of the Following):
- Latest 12 Months CPF Contribution Assessment
- Last 2 Years Notice of Assessment (NOA)
- Latest 6 Months Computerised Payslip or Latest 3 Months Bank Statement if Self-Employed
Commercial Vehicle Loan Interest Rate
Exclusive at
Speed Credit
Speed Credit
From*
2.99%
Interest Rate
Other
Companies
Companies
From
4%
Interest Rate
*Terms & Conditions apply.
Commercial Vehicle Loan Calculator (Monthly Repayment)
Use our Commercial Vehicle Loan Calculator to calculate or get an estimate of your monthly instalment repayments for your commercial vehicle.
$0
Monthly Repayment
Disclaimer: Interest rates are estimated and may differ based on credit evaluation and loan amount from banks and financial institutions. This Car 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 warrant the accuracy, adequacy or completeness of the figures presented. Speed Credit Pte Ltd explicitly disclaims liability for any possible errors or omissions.
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