Car leasing in Singapore is straightforward. You pick a car, drive it for a contractual period (anywhere between one to five years or more) and you pay a monthly fee for it. However, the car is never yours. You can never sell it to 'rebate' the running costs of the car you've been paying over the years.

A lease-to-own plan allows drivers a structured path toward vehicle ownership in Singapore without the hefty down payment of vehicle financing, and it does not affect your Total Debt Servicing Ratio (TDSR).

So, how does this 'drive now, own later' scheme work? Once you reach the end of the leasing contract, you will have the option of purchasing the hired car at a special rate or returning it to the car leasing company.

Which car leasing companies can you trust? Read on to find out!

KINTO Singapore Pte Ltd

Lease a Toyota or Lexus from KINTO Singapore Pte Ltd with a fixed and transparent monthly price. Its flat fare with a one-year minimum commitment and $0 payment upfront includes all vehicle maintenance expenses, repair costs, comprehensive car insurance, annual road tax, and unlimited mileage, on top of 24/7 roadside assistance.

Hirers can buy back the car anytime within the lease period at the buyback price (listed price when it was leased), allowing them to beat COE inflation and still get a brand new vehicle.

Other benefits of Kinto One's Buy-back Program:

Monthly Complimentary Concierge Service

Unlimited Access to Exclusive Co-Working Space

Address: 22 Sin Ming Lane #01-77 Midview City, Singapore (573969)

Opening hours: 8:00am - 7:00pm (Mon - Sat) 10:00am - 2:00pm (Sun)

Contact number(s): 9627 4356

Hertz Singapore

Hertz Lite is a fantastic way to drive a brand-new car without incurring huge bills by Hertz Singapore. This short leasing programme requires only a low upfront payment of $10,000, does not affect your TDSR with flexible leasing conditions, and road tax, insurance & servicing all included!

Designed with flexibility in mind, Hertz Lite offers a shorter lease tenure in the market for a brand new car. You can choose your lock-in lease period of 18, 24, 36 or 60 months. It is an up-and-coming leasing scheme that combines both its comprehensive lease and lease-to-own business models.

You can choose to own the car, extend the lease, or even change to a new car after the lock-in lease period - it's entirely up to you.

Address: 305 Alexandra Road #03-01 Vantage Automotive Centre, Singapore (159942)

Opening hours: 8:30am - 6:00pm (Mon - Fri)

Contact number(s): 8125 0410 / 8533 7217 / 8533 7216 / 8223 0457

Dickson Auto Solution Pte Ltd

Driving your dream car will no longer be a dream at Dickson Auto Solution Pte Ltd because its lease-to-own scheme allows you to drive off a brand new car of your choice (Distributor or Parallel Import models) without any down payment, and you can buy the car later, with zero markups.

Based on your preferred tenure, Dickson Group will work out a reasonable monthly leasing fee, which can make your dream a reality.

Here are additional benefits of its lease-to-own scheme:

Free inspection and extended warranty

Fixed low monthly fee

Maintain your existing NCD and build up NCD as you drive

Three day delivery

Fuss-free 24/7 Emergency and Breakdown Assistance by its new 15-bay Service Centre - Dickson Auto Care Centre

Address: 29 Ubi Road 4 Dickson Auto Centre, Singapore (408619)

Opening hours: 10:00am - 7:00pm (Mon - Fri) 11:00am - 6:00pm (Sat & Sun)

Contact number(s): 8161 7640 / 6668 1166

Car Times Auto-Rent Pte Ltd

SWITCH by CarTimes Auto-Rent Pte Ltd is a Flexible Car Leasing & Purchasing Program. The scheme will be initiated with a three-year leasing plan with a one-year minimum commitment.

You'll pay a minimal upfront payment of $1000 which includes insurance, road tax, servicing, and maintenance. Once you've fulfilled the one-year minimum commitment period, you will have the option to purchase, sell, return, or switch vehicles during the programme.

The remarkable thing about this plan is that you get to buy the car from Car Times at the price set on the leasing contract. The price will not change after the leasing contract ends, even if the COE rises or dips. If you can sell the car to another party, Car Times will handle the transaction and any surplus (amount exceeding the price as per the contract) will be given to you.

Address: 73 Mackenzie Road Level 2 Lot 3/4 Mackenzie Car Mall, Singapore (228729)

Opening hours: 9:00am - 6:00pm (Mon - Fri)

Contact number(s): 6464 5111 / 8811 6616 / 8282 5111

Carz World Pte Ltd

If you are a Singaporean or PR who wants to own a new car but don't want to fork out that insane 30 per cent to 40 per cent upfront payment, Carz World Pte Ltd (Rental & Leasing) is your answer.

The minimum commitment will be a standard one-year with a $2000 payment upfront, which will include insurance, road tax, servicing and maintenance. After that one year, the hirer can buy over the car, lease another car, re-finance the car with Carz World at the prevailing rate or even fully pay for the car with no loan!

Address: 33 Ubi Avenue 3 #01-57/58 Vertex, Singapore (408868)

Opening hours: 10:00am - 7:00pm (Mon - Sat) 11:00am - 7:00pm (Sun)

Contact number(s): 9178 6185 / 6570 9482

This article was first published in sgCarMart.