(N.B. We do not mean Hybrid as in Hybrid Electric/Natural Gas cars. We mean Hybrid as in a combination of traditional car leasing and hire-purchase schemes.)

On 25th Feb 2013, MAS imposed strict financing requirements on motor vehicle loans in Singapore. Motorists like you are finding it hard to own or lease a car. Many of our partners have come up with new types of car leasing schemes and we call them Hybrid Leasing.

The dominant players in this new-style leasing programs are Auto Germany (Opel), Alpine Car Rental (Chevrolet), Republic Auto (Pre-owned Mercedes) and Roset Limousine (All Major Make & Model).

The key benefits are:

  1. No outrageous 40-50% deposit for the lease of a brand new/pre-owned car (required when you buy a car on a hire-purchase scheme).
  2. Flexibility to include (or exclude) car insurance, road-tax, servicing, and other major car expenses in lease price (uncommon for the traditional schemes).
  3. This scheme ignores your personal financial leveraging (Total Debt Servicing Ratio) which can prevent some individuals from taking up a bank loan to buy a car.
  4. The vehicle could potentially be yours at the end of the leases (which rarely happens with traditional car leasing).
 
Being a combination program, Hybrid Leasing takes on the pros and cons of traditional car leasing and hire-purchase schemes.
 
So, on the flip side:
 
  1. For prospective car buyers, it may shock you to know that after paying close to the retail price of the car, you will not own the car at the end of the lease. [Roset Limousine offers a buyback at a nominal charge. Call Drive.SG to find out more.]
  2. For those who are looking for new car lease, the new Hybrid Lease may not come with all the usual perks of car leasing that you are used to. E.g. you might not have breakdown assist, courtesy car during breakdown/servicing, car insurance or road tax in your Hybrid Lease package.
  3. Since Hybrid Leasing schemes are in their infancy, they vary greatly from company to company. It makes comparison between offers really hard.
  4. Since the idea Hybrid Leasing originated from car sellers (those that were smart enough to circumvent the new MAS ruling), the scheme is naturally geared towards prospective car buyers. In any case, this presents a new opportunity for car owners to enjoy the amazing hassle-free experience car leasing experience and a (arguably) more economical alternative for traditional car lessee.