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New Car Financing
Finance your new car purchase with OCBC
Eligibility
- Age 21 and above
- Singaporeans, Singapore PRs and foreigners
- For applicants who purchase new cars from car distributors / parallel importers
How to apply 
Benefits
Financing of up to
of the total car price
Repayment period of up to
Fixed interest rate of
Effective interest rates (EIR) vary depending on repayment period
Calculate your estimated monthly repayments
Application Process
-
1
Apply for OCBC Car Financing through your car dealer
Need to provide
- A copy of your ID card
- Your income documents:
- Computerised payslip;
- Income tax notice of assessment; or
- Latest 6 months CPF contribution
- Completed application form
- Work permit (for foreigners only)
Need to pay
Initial deposit
-
Your dealer will inform you on your finance
approval within the next 24 hours. -
2
Meet your dealer to sign documents
Your dealer will contact you to arrange for this meeting.
Need to sign
Hire Purchase Agreement
Need to bring
Your ID card
Need to pay
Any remaining downpayment (difference between purchase price and approved finance amount) to your dealer
Things to note
Your dealer might collect the first month’s instalment
-
Your dealer will do the following and update you on the progress:
- Order your car (if out of stock)
- Bid for new car COE
- Register your car
-
3
Collect your car
Your dealer will contact you to arrange for this meeting when your car is ready for collection.
Hire Purchase Agreement
OCBC will mail the Hire Purchase Agreement to you with the monthly instalment amount and payment due date specified.
-
4
Make monthly repayments
For your convenience
Set up your payments via
GIRO 462kbOther payment methods
- Drop your cheque into any of our cheque deposit boxes
- Make cash payments in person at any of our bank branches
How to apply
Get us to call you by providing us with your contact details.
Call our hotline
6363 3333
Operating hours are from
9am to 5pm, Mondays to Fridays
(excluding public holidays)
The maximum finance amount a customer is entitled to is based on the open market value of the car.
| Open market value | Maximum finance amount |
|---|---|
| ≤ S$20,000 | 70%^ |
| > S$20,000 | 60%^ |
^Based on the purchase price or valuation of the car, whichever is lower.
