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What’s more expensive than buying a new car? Leasing one
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Leasing a brand new Toyota Corolla Altis costs more than buying one with a hire-purchase loan
PHOTO: ST FILE
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SINGAPORE – While hire purchase remains the most popular route for consumers to buy a new car, some motor dealers note that leasing has been gaining popularity in recent years.
One reason is that loan restrictions, which apply to hire purchase, do not apply to leasing. With car prices soaring on the back of surging certificate of entitlement premiums in the past two years, not having to fork out a huge down payment becomes more attractive.
