What Is In-House Car Loan In Singapore? Here’s What To Know

Taking out a loan from a banking company is a standard vehicle finance solution. However, when trying to buy a car in Singapore, asking for bank loans isn’t your only alternative. You can also choose in-house car financing, which means you’ll get a loan from your dealership directly. Financing through a dealership rather than a bank can have benefits in some cases. In contrast, even dealerships without an in-house car loan typically cooperate with a variety of lenders.

What is an in-house car loan useful for when it comes to acquiring a financing arrangement with much less credit? Gaining approval in-house is easier than getting approved by a bank, so in-house financing can be a fantastic alternative if you’ve had credit issues in the past. Learn more about Singapore’s in-house finance in this article.

What Is In-House Financing and What Does It Mean?

Simply put, in-house finance means borrowing money from your vehicle dealership. The dealership then receives your loan and interest charges. Direct financing with your vehicle dealership has several advantages for clients. Your dealership desires you to go home with the car you want, so they’ll go above and beyond to tailor a lease arrangement to your needs. The following are some of the advantages of working in-house:

  • Pre-approval is a lot easier with them.
  • Extended warranties are available.
  • Flexible interest rates.
  • Possibility of establishing credit.

Even dealers who do not arrange direct financing will usually negotiate with many lenders to find you the best offer.

What Is the Impact of In-House Financing On Your Credit Score?

Since your dealership may be more forgiving in how they examine your financial status than a bank, getting a vehicle loan in-house is quicker for those with bad credit than getting one from a financial institution.

What is the process of in-house vehicle financing if you’re trying to get your credit back on track?

Making on-time payments on your tailored vehicle loan will help you raise your credit score. You can also extend your original warranty with in-house financing. You may utilise tools such as an interest calculator to get a clear picture of your financial future.

Discover In-House Financing with Swee Seng Credit!

You should rely on reliable providers and have a good track record among drivers for their auto needs, such as seeking the best COE renewal loans.


Contact your provider’s finance department to learn more about how car financing works or more information on leasing versus buying your next vehicle. Get your loan processed with the best vehicle finance and COE renewal financing solutions provider.

Danny White