Summary
- Long-term car rental in Singapore typically runs 6 months to 2 years, with monthly rates starting from $2,400.
- Road tax, insurance, servicing, and 24/7 roadside assistance are bundled into that monthly fee. No separate bills to manage.
- Renting eliminates 3 of the largest costs of car ownership in Singapore: COE premiums, depreciation, and unpredictable maintenance bills.
- EV rentals can offer lower running costs than petrol when charging discounts are included, with longer contracts generally attracting better monthly rates.
- PHV drivers on Grab, Gojek, TADA, Ryde, and Zig can access platform-approved EV rental plans, including through Velocity Leasing’s GoJek Exclusive EV Fleet partnership.
Renting a car in Singapore gives you access to a vehicle for several months or years without the high upfront cost and administrative responsibilities of buying a car.
Instead of paying for a COE, downpayment, registration fees and other ownership costs, you pay an agreed rental rate for the duration of your contract. Depending on the rental company and package, expenses such as road tax, motor insurance and vehicle servicing may also be included.
However, long-term car rental contracts can differ significantly in their rates, inclusions and conditions. Before signing an agreement, it is important to understand what you are paying for, how long you are committing and what happens if your circumstances change.
What is Long-Term Car Rental?
A long-term car rental generally refers to renting a vehicle for several months or longer. The terms “long-term rental” and “car leasing” are sometimes used interchangeably. While there is no single standard duration, most providers consider contracts of 12 months or more to be long-term arrangements.
What sets long-term rental apart is what is bundled in. Road tax, comprehensive insurance, routine servicing, and 24/7 roadside assistance are generally included in a monthly car rental fee. It is designed to replace car ownership, not supplement it.
Common rental periods include:
- 12 months
- 24 months
- 36 months or longer.
How Much Is the Monthly Car Rental Rate in Singapore?
The car rental monthly rate in Singapore vary depending on the vehicle type, contract length, and what is included in the package. Long-term rental packages typically start from around $2,400 per month, with higher rates for larger or more premium models.
Sedans and mid-range EVs are popular for both personal and PHV use because they offer a practical balance of comfort, space and cost.
SUVs and premium EVs typically come at a higher price point because of their larger build, enhanced features and upgraded specifications. They are ideal for families, business users and those who value extra space and comfort.
Longer contracts, such as 12 or 24 months, usually offer better rates than short-term plans. However, it is important to look beyond just the rental price. Check whether road tax, insurance, servicing, roadside assistance and charging benefits are included.
For EV rentals, lower charging costs and charging discounts may also reduce your overall monthly driving expenses compared with a petrol car.
Not sure which car fits your budget? Velocity Leasing offers plans across hatchback, sedan, SUV, and premium EV tiers, with same-day collection available on selected models. WhatsApp us to book a test drive and compare your options before committing to anything.
Short-Term vs Long-Term Car Rental: What Is the Difference?
Choosing between short-term car rental in Singapore and a longer contract comes down to 4 factors.
Cost per month. Short-term rentals usually cost more for the flexibility they offer. Long-term contracts deliver better value for anyone with a consistent, ongoing transport need.
Flexibility. Short-term rental suits situations where your vehicle need is uncertain or temporary. Long-term rental is the right fit when your need is predictable, but you still want to avoid the permanence of ownership.
What is typically included. Short-term packages may charge separately for excess mileage. Long-term packages bundle the essentials: maintenance, insurance, and roadside assistance, reducing variable costs month to month.
Who it suits. Short-term works for travellers or those between cars. Long-term suits drivers who need a vehicle as part of their daily routine for an extended period.
Who is Long-Term Car Rental Best For?
Long-term rental tends to suit 4 types of drivers:
PHV drivers (Grab, Gojek, TADA, Ryde, Zig). Your vehicle is a working asset. A fixed monthly rental makes it easier to calculate net earnings and manage operating costs without ownership surprises.
Freelancers and gig economy workers. If your income varies, locking capital into a depreciating asset adds unnecessary risk. A fixed monthly cost keeps transport expenses predictable.
Businesses and corporate users. Long-term rental allows fleet scaling without capital expenditure. You pay for what you use, without exposure to resale values or COE cycles.
If you recognise your situation in the list above, the next step is straightforward. Speak to the Velocity Leasing team about which rental plan suits your driving needs. There is no obligation, and the conversation takes less time than another month of weighing it up.
Benefits of Long-Term Car Rental Over Buying a Car in Singapore
No COE required. COE premiums add a substantial cost to vehicle ownership in Singapore. For many mass-market models, the COE premium alone can approach or exceed the base price of the car. With long-term rental, this cost is absorbed into your monthly fee.
No depreciation risk. A new car loses value from the moment it is registered. In a rental arrangement, that risk sits with the provider, not with you.
Predictable monthly costs. Maintenance, insurance, and roadside assistance are bundled into the monthly fee. No surprise repair bills, no variable servicing costs.
No long-term financial lock-in. Rental contracts are structured around your actual transport needs, with defined exit terms and room to reassess when your circumstances change.
Access to newer vehicles. Long-term rental providers maintain newer fleet stock throughout their range. This means updated vehicle technology and lower servicing risk for the duration of your contract.
Long-Term Car Rental with Velocity Leasing
Velocity Leasing provides long-term EV rental and leasing options in Singapore for PHV drivers and personal-use customers.
Depending on the selected vehicle and package, your rental may include road tax, motor insurance, regular servicing and roadside support. Eligible packages are available with a driveaway amount from $800, helping drivers access a vehicle without the large upfront commitment associated with car ownership.
View the full fleet at velocityleasing.sg/our-fleet.
Before choosing a vehicle, our team can help you compare:
- Vehicle size and passenger capacity
- EV driving range
- Charging requirements
- Contract duration
- Insurance and accident excess
- Personal-use and PHV rental options
- Applicable driver benefits and promotions.
Contact Velocity Leasing to enquire about available vehicles and long-term car rental packages in Singapore.
Frequently Asked Questions About Long-Term Car Rental in Singapore
What is the minimum period for a long-term car rental in Singapore?
Most long-term car rental packages include road tax, routine servicing and maintenance, roadside assistance, and some form of motor insurance. However, the level of insurance coverage can differ between providers, with some offering only basic coverage.
Velocity Leasing includes comprehensive motor insurance together with road tax, servicing, maintenance, and 24/7 roadside assistance. Always compare the coverage, accident excess, and exclusions before signing a rental agreement.
What is typically included in a long-term car rental package in Singapore?
Road tax, basic insurance coverage, routine maintenance and servicing, and 24/7 roadside assistance, all in a single monthly fee.
Is long-term car rental cheaper than buying a car in Singapore?
For many drivers, yes. It eliminates COE costs, depreciation, and unpredictable ownership expenses. The right answer depends on your usage pattern and contract length.
Can I use a long-term rental car for Grab or Gojek in Singapore?
In most cases, yes. Confirm that the vehicle and contract terms permit PHV use. Velocity Leasing operates a dedicated EV fleet for PHV drivers, including GoJek Exclusive EV Fleet access.
What is the monthly car rental rate in Singapore for an EV?
Packages start from $2,400 per month. Rates vary by model, contract length, and inclusions. Contact Velocity Leasing for current pricing.
Can I return the car before the car rental contract ends?
You may be able to return it early, but early termination charges are likely to apply. Review exit clauses, notice periods, and any applicable penalties before signing.
Do I need to service the car myself during a long-term rental?
No. Maintenance and servicing are handled by the provider as part of the package.
What is the difference between short-term and long-term car rental in Singapore?
Short-term offers flexibility at a higher monthly cost with fewer inclusions. Long-term offers lower rates, comprehensive bundling, and suits drivers with a consistent, ongoing need.
Can I rent a car in Singapore for just one month?
Some providers offer one-month arrangements, though at higher monthly rates. If your need extends beyond one month, a longer contract will generally offer better value.
Is an EV a good option for car rental in Singapore?
For many drivers, yes. Lower running costs and a growing charging network make EVs an increasingly practical choice for daily use.
Do rental cars in Singapore come with insurance?
Long-term packages typically include comprehensive insurance (R10/Z10). Confirm coverage scope, excess amounts, and any exclusions with your provider before signing.
