Owning a car is a dream for many, but the financial implications can often make this dream seem out of reach. The Total Debt Servicing Ratio (TDSR) in Singapore can limit your borrowing capacity, making it challenging to finance a car. But what if you could enjoy the freedom of driving your own vehicle without affecting your TDSR? Enter car leasing—a flexible and financially savvy alternative that offers numerous benefits.
The TDSR is a measure used by financial institutions in Singapore to ensure that borrowers do not overextend themselves with debt. It considers all your monthly debt obligations, including mortgages, credit card payments, and personal loans, to determine how much you can afford to borrow. While this is a prudent measure to prevent excessive debt, it can limit your ability to finance big-ticket items like a car.
Leasing a car provides a practical solution for those who want to drive a new car without the hefty upfront costs and long-term financial commitments associated with purchasing a vehicle. Here’s how leasing can help you drive your dream car while keeping your TDSR in check:
Leasing a car is not considered a loan and, therefore, does not affect your TDSR. This allows you to manage your finances more effectively and keep your borrowing capacity intact for other needs.
Lease agreements typically include fixed monthly payments that are often lower than loan installments for purchasing a car. This predictability helps in better financial planning and avoids unexpected expenses.
Unlike buying a car, leasing requires little to no down payment. This means you can start driving your desired vehicle without draining your savings or impacting your TDSR.
All CarTimes Rental Solutions vehicles come with comprehensive maintenance and repair services, ensuring your car stays in top condition without any additional out-of-pocket expenses. This reduces unexpected costs and helps keep your financial plan stable.
With our SWITCH program, you can enjoy unparalleled flexibility. Whether you're deciding between models or considering a purchase, SWITCH Leasing Program allows you to switch cars, switch lease duration, and switch to ownership with ease.
Car leasing offers a practical and flexible way to enjoy the benefits of driving your own vehicle without the financial burden of ownership. By choosing to lease, you can maintain your TDSR, enjoy lower monthly payments, and have the freedom to upgrade to newer models regularly. Explore our leasing options today and drive your dream car with financial peace of mind.
