Loan application for buyer
& full settlement for seller
Insurance application for
buyer & refund for seller
Facilitate proper payment
Process LTA vehicle
We will handle all matters related to the vehicle transaction.
1 week or less to complete everything.
Transaction processed by sgCarMart Connect, which is
Free for all advertised*Admin fees may apply for loan settlement and other related matters
cars on sgCarMart.
After I found a buyer thru my ad on sgCarMart, they did everything for me and settled within 3 days.
They did all the paperwork for me and neither me nor my buyer had to pay them a single cent!
Doctor, MBBS (Singapore)
61 Ubi Ave 2 Automobile Megamart #07-06 S(408898)
|What should I do if I am engaging in a direct seller/buyer deal?|
Both seller and buyer should arrange for a meet up to view the vehicle, and to confirm the deal. A sales agreement will need to be signed, and a deposit placed to confirm the deal. We will help you to process the rest of the paperwork once you send us the signed and completed sales agreement here. The sales agreement can be downloaded here.
|Must I already have the signed sales agreement before engaging sgCarMart Connect?|
Not necessarily. Should you need assistance on how to fill out certain forms, or instructions on proper procedures even before signing the sales agreement, we can facilitate the signing of the sales agreement at our office. The sales agreement can be found here.
|What are the services that sgCarMart Connect will provide for me?|
By liaising with both seller and buyer to get the necessary paperwork for processing, we can provide the full suite of transaction services:
|Are there any fees involved for using this service?|
This service is free for both the buyer and the seller for all vehicles advertised on sgCarMart.
For non-sgCarMart advertised vehicles the service fee is $300, but we will offer it free if:
(i) The buyer's insurance and financing is applied through sgCarMart Connect;
(ii) The buyer's loan amount is a minimum of S$20,000 over a minimum period of 2 years.
Third party costs such as dispatch charges (S$12 per trip), full settlement of outstanding loan charges (S$150 per S$50,000 block), transfer fees (S$25) and admin fees for COE loans may apply.
|[For Buyers] Can I source for my own car loan?|
Preferably not. If your loan is not applied through sgCarMart Connect, we may not be able to smoothly facilitate the process. Do note that for non-sgCarMart advertised vehicles, there may be a fee for using sgCarMart Connect if your loan is not applied through us. Please contact us if you wish to use our services but prefer to source for your own car loan.
|[For Buyers] Can I source for my own insurance?|
Yes. Alternatively, we can provide you with competitive quotes from various insurance companies for your comparison. Do note that for non-sgCarMart advertised vehicles, there may be a fee for using sgCarMart Connect if your insurance is not applied through us.
|[For Buyers] What are the available financing options and their rates?|
Car loan interest rates are 2.78% for used cars, 3.4% for commercial vehicles and 3.18% for renewed-COE vehicles. We work with most major banks and credit companies in Singapore to bring you the most competitive rates. Do let us know if you have a preferred bank.
|[For Buyers] How long does it take for my loan to be approved?|
|[For Buyers] Can sgCarMart Connect help with carplate number retention?|
Yes. We can assist with number retention and applying your retained number to your new vehicle. We do not charge for this service, but if you require us to submit the documents to LTA on your behalf, there will be third party dispatch fees (S$12 per trip).
|[For Sellers] I have an outstanding loan on my car. Will sgCarMart Connect settle it for me?|
Yes. We will settle your outstanding loan for you once the vehicle handover is complete. This process typically takes 2 working days.
|[For Sellers] I have existing insurance on my car. Will I get a refund?|
Yes. Once the vehicle is handed over, you can cancel the insurance. We can also assist with the cancellation upon vehicle handover. The refund will be issued and mailed to you by the insurance company typically within 2 months.
|What other services does sgCarMart Connect provide and what are the charges?|
We can provide a vehicle assessment report if the said vehicle is brought to our office. The report will note the physical condition of the vehicle at the point of sales and we can use it to make sure that the vehicle is in the same condition at the point of handover. This report documents the physical appearance of the vehicle and does not include the mechanical components. We do not charge for this service.
We also provide COE renewal services for customers who are keen to renew the COE for their existing cars.
For more information on this service, please go to sgcarmart.com/renewcoe.