Getting a car loan simply means borrowing money to pay for it. Borrowing money probably isn't new to you - everyone's bummed £10 from friends. When you borrow from a lender, the amount you borrow is called the loan principle. Though the basic idea behind borrowing money for a car is the same, when it comes time to pay the loan back, things get a little complicated.

Eligibility:

• Individuals with minimum age of 21 years
• Age at maturity of car financing must not exceed 68 years old
• Must be Singapore Citizen or Permanent Resident
• Foreigners are welcome to apply for car financing as long as local guarantors are provided