Top 5 Benefits of renting a car. (Compared to buying one). – McQueen Rentals Singapore

Top 5 Benefits of renting a car. (Compared to buying one).

Have you ever been torn between buying a car or renting one for use? Well, here are 5 benefits of renting a car over buying one yourself!

 

Responsibility of owning a car

  1. Less responsibility

If you own a car you must keep track of your road tax, car insurance, seasonal parking, servicing, maintenance, and fuel consumption all year round. So many things to keep track of just so you can drive a car in Singapore.

 

Whereas if you rent a car, you just pay for the rental, parking and the fuel consumed. Cutting your responsibility by half while letting your rental company handle the rest!

Cost of owning a car

  1. Cost effective

If you own a car you will have to pay for it all year round regardless if you are using it or not. It is just a recurring expense that you cannot stop once you started it. And let’s not forget that cars are one of the fastest depreciating products, where just driving it will cause it to lose value exponentially.

 

Compared to if you rent a car, you only pay for the days you rent and not have to worry about years on years of commitment to paying for the car.

  

More Options to change the car

  1. Drive different cars

Purchasing a car means that you will be stuck with that car for the next few years, unless you strike the lottery and decide to upgrade your car.

 

If you were renting cars instead, you can always rent a new car every time and change it just like changing clothes.

Grab and Gojek incentive

  1. Covering the cost

At the moment of writing this article both Grab and Gojek has incentive for their drivers who rent from their fleet partners. For Grab there is GrabRental Shield and for Gojek there is GoFleet. They give 24% – 30% Caltex Fuel discount and 150$ rental rebates respectively.

You will only have access to this incentive if you rented cars from their partners to drive for them. This covers some of your cost of driving and make it even cheaper to drive.

Initial cost of owning a car

  1. Less initial cost

Last but not least, you need a huge initial amount to purchase a car in Singapore, you have to pay for COE, VES, ARF, OMV, registration fee and others. If the words do not bring you a headache the amount most certainly will, Singapore is after all one of the most expensive countries to own a car.

In the case of renting a car, there is not much of an initial cost just maybe an advance payment for the rental period and a deposit, which is but a fraction of what you have to pay to buy a car.

Conclusion

 

In conclusion owning a car for personal use or for commercial use is very expensive and a hassle in Singapore. It would be more cost effective to rent cars for usage unless you are willing to commit at least years to fund your car.

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