Sgcarmart Introduces New Financing Initiative for Used Cars
- Written by: Telegraph Magazine
A new fully-digital 'Smart Loan' service for used car buyers
This new fully-digital service seeks to boost used car sales in Singapore by offering car buyers below-market interest rates and a fast online approval process that can be done via MyInfo. 
In the wake of rising car prices and the surge in COE premiums, demand for used cars has declined by up to 15% since the beginning of 2022, as evidenced by Sgcarmart's transaction data. This has led to a build up of used car dealer inventory.
Sgcarmart's Smart Loan aims to benefit both dealers and buyers, by boosting inventory turnover through the provision of attractive interest rates and lower monthly repayments. As a launch promotion, buyers can enjoy incredible savings on monthly repayments with an interest rate 2.28%^ plus $1,700 worth of perks, including a $500 cashback and an exclusive KINTO membership program.
For more information on Sgcarmart Smart Loan, please visit
www.sgcarmart.com/car_loan
For more information on KINTO membership, please visit here.
^Promotional terms and conditions apply.
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About Sgcarmart
Sgcarmart is Singapore's #1 car platform. With over 30,000 listings, it offers the largest database of new and used cars, with an average of 10 cars sold every hour, helping to drive approximately 70% of all second-hand car transactions in Singapore. The platform receives more than 1.6 million users every month, offering the highest level of support for drivers with its suite of value-added car ownership & transactional services.
