You may login into the online customer portal for updating.
Alternatively, you may download the form from our website and fax/email us for updating.
Note: It is the customer’s responsibility to notify us of any change in address or contact number, otherwise, we will send correspondence to the address as per contract.
You may login into the online customer portal to request for early settlement amount and system will calculate settlement amount immediately.
No notification is given, please refer to your Car Financing Payment Schedule to monitor and make your payment every month.
Yes, there is a grace period of 7 calendar days (including weekend/PH) from the due date of your instalment. For eg. Due date of instalment 5th of the month, your last day of payment is 11th.
No, we do not accept Credit or Nets payment.
- GIRO
Please download form from our website. - AXS
At AXS station, choose Bills / Loans / Click into our Organisation ‘s Name 4 fields to fill in: Hirer’s Name / Contact No. / Vehicle No. / Amount - PayNow
Internet Banking select Paynow, enter our UEN no. 197901535G and indicate vehicle as a reference.
For change of bank account, you need to re-submit a new Giro form. Please download the Giro form, complete and mail back to us.
To terminate your Giro, please proceed to the nearest branch of your Bank and fill in a Giro Termination Form. Alternatively, you can login via internet banking and cancel your Giro. Your Bank will notify us of your Giro termination via letter.
Yes, late charges will be imposed if you pay after the 7 days grace given.
Late fee will be $50 plus overdue interest which is calculated from your due date of instalment till the date payment is made.
Late charges will be billed to you on a monthly basis.
If your instalment payment is by Giro, late charge will also be deducted by Giro.
If your instalment payment is by PayNow or AXS, please include this late charge with your next instalment payment.
The loan amount is dependent on the Open Market Valuation (OMV) of the financing vehicle:
| Open Market Value (OMV) | Finance Amount |
|---|---|
| Where OMV is more than S$20,000 | Maximum 60% of purchase price less amount of discount, rebate or any other benefits offered. |
| Where OMV is less than or equal to S$20,000 | Maximum 70% of purchase price less amount of discount, rebate or any other benefits offered. |
However, you may opt for early settlement whereby interest rebate is calculated using the following formula:
Where “n” represents the unexpired period of hiring (expressed in months); and “N” represents the original tenure of finance (expressed in months).
But the following conditions shall apply:
- In the event of early settlement, a charge of 20% of the total term charges payable under the HP Agreement, pro-rated for the unexpired hiring period (calculated in months).
- In addition, a prepayment fee of 1.5% of the Original Loan Amount will be charged.
No, partial redemption is not allowed.
- Age 21 years old and above
- Open to Singapore Citizens, Singapore Permanent Residents, and Foreigners (with a local guarantor)
- Apply via SingPass on our online portal
- Latest Income Tax Assessment, or 6 months’ CPF
- Vehicle Sales Agreement
- Vehicle Acknowledgement Page (Used car only)
- Your car dealer is able to access the status on your application. You may check with them directly.
- If your loan enquiries are related to the approval advice, you may approach your car dealer for clarification.
No, direct application is not allowed. Instead, you may approach a car dealer to send in the loan application to us on your behalf.
No, our company provides car financing services only.
With over 40 years of presence in Singapore, we have strengthened our expertise in the industry. You can also be assured to receive only the best customer experience there is to offer.
Our service includes:
- Comprehensive Insurance, Routine Servicing and Maintenance, Road Tax, 24/7 Roadside Assistance, dedicated team to handle your account.
Both Individual and Corporate customers are welcome!
Sign-up with us now to enjoy your hassle-free experience!
- 24/7 Roadside assistance
- Replacement car
- Routine servicing
- Road Tax & Insurance covered
- Wide range of car models
The minimum lease period for a brand new vehicle is 24 months. Meanwhile, we also can provide a minimum of 12 months lease for vehicles that are currently in our fleet.
The lessee or its assigned / authorized driver should be at least 25 years of age with at least 2 years driving experience and hold a valid Singapore or International Driving License / Permit with the appropriate vehicle classes.
Comprehensive insurance with Personal Accident Insurance coverage is included in the monthly leasing rates.
Additional Insurance Excess applies for Young (below 25 years old) and/or Inexperienced drivers (driving experience of less than 2 years)
We will not limit your driving in terms of the mileage. Your leased car can also be driven to Malaysia.
Moreover, with our 24/7 roadside assistance, we also have a close network of workshop partners in Malaysia who can support in any unforeseen car issues or break-down.
Vehicle servicing to be performed by our authorized workshop as per manufacturer’s guidelines.
We will replace the consumable parts such as tires, battery, and wipers, and address any safety-related concerns as the need arises.
Certainly! We would love to show you around!
Send us the address, we will drive the car over!
It depends on the availability of the stock. Our account officer will advise you before the contract signing.
Corporate customer – Front and back of driver’s Driving license.
Individual customer – Front and back of your NRIC & Driving license, latest 3 months’ payslip and/or latest NOA.
If you want to end your contract before the agreed lease maturity, you would need to refer to the early termination structure stated in our lease/hire agreement.
Each fleet contract can only be assigned to a corporate entity or one individual. Leased cars are not allowed to be sub-leased.
Generally, anyone who is permitted/authorized by the lessee/hirer is allowed to drive the car (incl. e.g family members, employees).
The minimum requirement is a valid Singapore Class 3 Driving License or a valid International Driving License accompanied by Identification Card, Passport or Employment Pass.
Stay calm, contact our 24/7 roadside assistance, and our accident response team will guide you accordingly. Please call 995 if there are any injuries.
Contact our TCLS 24/7 hotline (9737 6370), take photos of the car condition, and accident location and file a police report.
Yes, of course! Provided the accident or breakdown happens in Singapore. Should it happen in Malaysia, we are only able to provide the replacement car upon your return to Singapore.
Upon contract maturity, you will need to handover the car to us at the same condition as it was delivered to you with exception of fair wear and tear damages (guidelines will be provided).
- Petrol
- ERP Cash Card
- All Parking Offences and Traffic Fines, etc
- All vehicle damages caused by negligence or on-purpose (not by accident) will also have to be charged to you
Tokyo Century Leasing Singapore Pte. Ltd provides financial solutions for corporate entities. These include companies and business, including sole proprietors and partnerships.
For Commercial Vehicle Hire Purchase Loan Eligibility, please refer to here
- Audited financial statements for the past 3 years
- Quotation / Invoice for the equipment
- Accounting and Corporate Regulatory Authority (ACRA) Business Profile
- A copy of the application form, filled and signed (For Equipment Hire Purchase)
For Commercial Vehicle requirements, please refer to here
You may opt for early settlement whereby interest rebate is calculated using the following formula:
Where “n” represents the unexpired period of hiring (expressed in months); and “N” represents the original tenure of finance (expressed in months).
But the following conditions shall apply:
- In the event of early settlement, a charge of 20% of the total term charges payable under the HP Agreement, pro-rated for the unexpired hiring period (calculated in months)
- In addition, a prepayment fee of 1.5% of the Original Loan Amount will be charged.
The amount of financing will vary from application to application and is subject to an evaluation of the purpose of the financing and an assessment of the entity applying for the financing. Speak with our Business Development Manager about your needs and they will be able to advise you further based on your requirements.
Yes, insurance cover is mandatory for Equipment/Commercial Vehicle under financed. Our Business Development Manager will be able to advise you on insurance requirements.
Partial repayments are subject to approval and a small administrative fee may apply. However, for Commercial Vehicle Hire Purchase, we do not allow partial redemption / repayment.
Yes, it is possible to take up a Hire Purchase for equipment located out of Singapore. This will be subjected to approval.
Both Hire Purchase and Lease allow you to manage your cash flow and liquidity needs as both Hire Purchase and a Lease arrangements allow you to spread the payments for an asset into the future instead of paying for it at the point of acquisition. In the case of a Hire Purchase arrangement, there is a need for Hirer to make a minimum down payment of 10% of the asset value. In the case of a Lease, the full value of the asset can be financed. In addition, under a Lease, the assets remain the property of the leasing company, unlike a Hire Purchase, where the asset belongs to the Hirer.
