Summary
- Car rental lets drivers use a vehicle without committing to COE, depreciation, resale risk or a long ownership loan.
- 4 rental types are available: short-term, monthly or long-term, PHV rental, and EV rental. Each is structured for a different driver profile.
- PHV drivers should check PDVL requirements, Z10 commercial insurance, platform approval and whether the car can be used on Grab, Gojek, TADA, Ryde or Zig.
- EV rental can lower running costs for drivers, especially when charging discounts and a good charging routine are available.
- Velocity Leasing packages include insurance, road tax, servicing, and 24/7 roadside assistance in one fixed monthly rate, with deposits from $800.
For PHV drivers, the best car rental option is not always the cheapest daily rate. Compare the full package: vehicle type, deposit, mileage cap, insurance excess, CDW, servicing, replacement car support, platform approval and fuel or EV charging cost. These items affect how much you really take home after every shift.
You may need a car for work, family use or private-hire driving. That does not mean you need to buy one. In Singapore, owning a car comes with COE, road tax, insurance, servicing, depreciation and resale risk. Renting can be simpler because you pay a fixed rate and return the car when the contract ends.
Velocity Leasing is one of Singapore’s trusted EV rental providers, offering flexible short and long-term EV car rental options for personal, PHV, and corporate use. Here is what you need to know to find the right arrangement.
Types of Car Rental in Singapore
The market divides into 4 main categories. The right option depends on how often you drive and whether the car is for personal use or PHV work.
Rental type
Best for
What to check
Short-term rental
A few days or a temporary replacement car
Daily rate, deposit, mileage cap and late return fees
Monthly or long-term rental
Regular use for one month or more
Monthly cost, contract length, early return policy and servicing
PHV rental
Grab, Gojek, TADA, Ryde or Zig drivers
PHV approval, PDVL, Z10 insurance, platform use and replacement car support
EV rental
Drivers who want lower running costs
Charging discounts, charging speed, range, charging locations
Velocity Leasing provides rental packages for PHV, long-term, and short-term drivers. Visit the car rental page for available models and current availability.
What Are the Requirements to Rent a Car in Singapore?
Requirements differ by provider, so always confirm before applying. In general, Singapore residents usually need a valid Class 3 or 3A driving licence, NRIC and a refundable security deposit. Some providers also set a minimum age and minimum driving experience.
For Singapore residents, you will typically need a valid Class 3 or 3A driving licence held for at least 2 years, and you must be at least 23 years old. You will also need your NRIC for identification and a security deposit, which at Velocity Leasing starts from $800.
For PHV rental specifically, a valid PDVL issued by the Land Transport Authority (LTA) is mandatory. Note that the minimum age to apply for a PDVL is 30, and the application process usually takes about 15 working days if documents are in order.
How Much Does Car Rental Cost in Singapore?
Car rental prices in Singapore vary by vehicle type, rental duration, and package inclusions. At Velocity Leasing, short-term rentals start from $87.50/day.
Rental Type
Typical Price Range
Daily rental (hatchback)
From $87.50/day (Dongfeng Box 2025)
Daily rental (SUV)
From $113.50/day (Dongfeng VIGO)
Daily rental (premium sedan)
From $117.50/day (Dongfeng 007)
PHV rental
From $87.50/day
Monthly rental
From $2,625 /month
Most monthly car rental packages in Singapore include insurance, road tax, regular servicing, and 24/7 roadside assistance at a single fixed rate.
Additional Cost
What PHV drivers should ask
Deposit
How much is refundable, and when is it returned?
Excess mileage
What is the monthly cap and excess charge per-km
Insurance excess
How much do you pay if you are at fault in an accident?
Early termination
Notice period required and any penalty fee structure
Collision Damage Waiver (CDW)
Velocity Leasing offers FREE CDW for selected models
Cross-border travel
Whether Malaysia driving is permitted and what VEP or RFID requirements apply
Why Consider Renting an Electric Car from Velocity Leasing?
Velocity Leasing specialises in EV rental, PHV rental and longer-term car leasing in Singapore. We provide PHV-approved EVs, maintenance support, low deposit options, Free CDW for selected models and charging discounts.
Singapore’s push toward cleaner transport has brought real infrastructure with it. The charging network now covers more than 15,000 public charging points island-wide, with a national target of 60,000 by 2030. Velocity Leasing drivers access EV charging discounts of up to 29% (as of July 2026) on top of that.
Lower running costs: Charging in Singapore costs from $15 per 350km compared to approximately $70 on 95-octane petrol (both with discounts applied).
Velocity Leasing is rated 5.0 on Google, with customers frequently highlighting its competitive rates for brand-new EVs, responsive support, and clear rental terms. These factors are especially important when a vehicle issue could affect a PHV driver’s income or a renter’s daily schedule.
What sets Velocity Leasing apart from most rental providers is the dedicated relationship manager assigned to every account. One consistent point of contact who knows your rental history, can advise on extensions or upgrades, and can act quickly when something needs resolving. For PHV drivers, this is an important difference.
The fleet consists of brand new models from Dongfeng and BYD: hatchbacks, compact SUVs, and premium sedans.
Not sure whether an EV suits how you drive? Velocity Leasing offers a no-obligation test drive on selected models, a practical way to find out before committing to a rental or lease.
Short-Term vs Long-Term Car Rental: Which is Right for You?
The simplest question to ask: how regularly will you need the car?
Short-term rental is better when you only need the car for a few days, such as while your own car is in the workshop or when you need temporary transport. You pay more per day, but you are not locked in for long.
Long-term car rental in Singapore becomes the more cost-efficient option when you need consistent access over one month or more. Monthly rates drop significantly compared to short-term pricing, giving you stability in your transport budget. For PHV drivers building a sustainable income, or families who want vehicle access without the COE burden, monthly rental offers the most practical balance of cost and flexibility.
Velocity Leasing offers both short and long-term arrangements. View fleet for available models and contract options.
What's Included in a Car Rental Package?
Before signing, understand exactly what is covered and what is not.
Standard inclusions at Velocity Leasing:
- Comprehensive R10/Z10 insurance (third-party liability, own damage, and theft)
- Road tax
- Regular servicing and maintenance
- 24/7 roadside assistance and accident tow support
- Replacement vehicle during servicing or repairs
PHV-specific inclusions:
- PHV-approved vehicles ready for platform onboarding
- Support across Grab, Gojek, TADA, Ryde, and Zig
- Gojek Exclusive EV Fleet access for eligible drivers
Optional add-ons (CDW is mandatory for PHV drivers):
- Collision Damage Waiver (CDW) from $6/day, reducing accident excess by 50%
FAQ
What is the minimum age to rent a car in Singapore?
Most car rental companies in Singapore require drivers to be at least 23 years old and hold a valid driving licence. Note that PHV drivers must hold a valid PDVL. The exact age requirement, minimum driving experience, insurance excess, and vehicle eligibility may vary by rental provider.
Is insurance included in car rental?
At Velocity Leasing, comprehensive R10/Z10 insurance is included in the package. Confirm the exact coverage scope and excess liability before signing. An optional CDW add-on is available from $6/day to reduce your accident excess further.
What documents do I need to rent a car in Singapore?
Typically: your driving licence, NRIC or passport, and a valid PDVL if renting for PHV use.
What is the difference between car rental and car leasing in Singapore?
Rental offers shorter, more flexible contract terms. Car leasing generally runs longer and typically offers lower monthly rates in exchange for that commitment.
What is CDW in car rental?
CDW stands for Collision Damage Waiver. It helps reduce the insurance excess amount you may need to pay after an accident, subject to the rental company’s terms.
Should PHV drivers choose petrol, hybrid or EV rental?
It depends on your route and mileage. EV rental can lower running costs for high-mileage drivers, but you need a charging routine. Hybrid cars may be easier for drivers who do not want charging downtime.
What should I check before signing a car rental contract?
Check the rate, deposit, mileage cap, insurance excess, CDW, platform eligibility, servicing, replacement car policy, early termination fees and Malaysia-use rules.
