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Lowest car loan rates from 2.98%

By applying for a loan on Carro, you will be getting exclusive access to Genie Financial Services, an auto financial solution provider and subsidiary of Carro, that would offer you the best loans in Singapore.

About Genie Financial Services

Genie Financial Services is an auto finance solution provider, that partners up with various banks and financial institutions in Singapore to offer the best rates for auto loans, and also a subsidiary of Carro.

The following are some of the loans that Genie Financial Services offers for all customers of Carro.


    We believe that a marketplace only thrives when both buyers and sellers gain, so we want to help ease the process of buying and selling second-hand cars.

    If you’re looking for more information about the buying and selling of cars, (or just any news related to cars, for that matter,) we also have on our site a blog where our writers provide news and views on anything car-related. Some samples of the kind of content we provide are “Where can you get the cheapest petrol in Singapore today?” or “How much do you need to save a month to buy a second-hand car in Singapore?”.

    We know that with added costs like COE, purchasing a car in Singapore isn’t exactly the cheapest thing to do. That’s why we also offer car loans here at Carro. Applying for a car loan at Carro means low interest rates and monthly payments with an application process that is both convenient and efficient.

    Our goal is to become the car marketplace of choice in the region so whether you’re a buyer, a seller, or looking for a car loan, let Carro help you make the process as painless as possible.

    How it works - Buying a car

    Cars listed on our site come with necessary information like the number of previous owners, mileage, depreciation, OMV, transmission, engine CC, scrap value and COE. There is also a summarized description of the cars and detailed pictures available to assist you in making an informed decision.

    Enjoy purchasing with a peace of mind

    All cars listed on our website have to first go through a thorough inspection by our in-house mechanics to assure that the cars are in a good enough condition. We use tools like paint meters and on-board diagnostics (OBD) to ensure that the cars being sold have not been in accidents before.

    Cars that are Carro Certified have no structural damage, have a mileage that is lower than 120,000 kilometers, and are less than seven years old. In this way, you can be secure in the knowledge that the cars purchased from us, although second-hand, are in the best possible condition.

    A seamless customer experience

    We know that making purchase decisions online can be difficult so to ensure transparency, any defects on the cars will clearly be listed, with some of the cars also coming with a one-year warranty. There is also a loan calculator that will help you determine the monthly payments on a loan needed with the purchase of a specific car. Once you have all the information you need, you can schedule a test drive to determine if the car you’re looking at is the one for you.

    How it works - Selling a car

    Selling your car on Carro means saying goodbye to low-ball dealerships. No more selling cars upwards of $20,000 lesser than what you could get - with Carro, you’ll be getting the price your car deserves. Carro also offers free inspection reports for potential buyers and free professional pictures that will enhance potential sale.
    Listing your car can also be a time consuming process so let us take handle that for you. We’ll take care of listings under other popular portals as well such as Gumtree, STClassifieds, SGCarmart and more. No more down time – with Carro, you’ll be able to sell your car as you drive, and only say goodbye when we find you a buyer. Other than that, all calls to you about car purchases will also be pre-vetted by us to ensure that you don’t receive spam calls from dealers after dealers so rest assured, when you list your car with us, we’ll help you make the process as painless and convenient as possible.
    Additionally, if you have listed your car but find that there have been no interested buyers after more than 30 days, we will buy the car from you at your offer price. This way, your car is guaranteed to sell regardless of immediate interest from buyers.

    Sell your car in 4 easy steps!

    With these four simple steps, you’ll well be on your way to selling your car at a price you deserve, with absolute convenience and without the hassle of worrying about low-ball dealerships.

    Step 1

    Contact us to schedule an appointment

    Step 2

    Car inspection and appraisal

    Step 3

    Bring buyer to test drive the car

    Step 4

    Finalize paperwork

    Car Loans with Carro

    Competitive, Quick-turnaround Time, Hassle-free

    With the price of purchasing a car in Singapore being as high as it is, buying a second-hand car is the cheaper option against purchasing a brand new vehicle. That said, with the additional price of COE, even a second-hand car might not be the cheapest thing to purchase in this country. Given the fact that the cost of buying a car in Singapore is extremely high, you may not be able to or may not be willing to pay the full amount upfront. If so, Carro also offers car loans that will help you pay off the amount you need to purchase a car.

    Our car loans feature competitive rates, low monthly payments, and convenient payment options that make a car loan with us a smart choice. We want to help you get the best deal you can and not get duped into paying more than you have to with high interest rates. After applying for the loan, we guarantee to process your application within 2 business days. In order to keep the process transparent, you will also be updated with every step of the way throughout the loan process.

    We also know that it isn’t easy to renew the COE loan on your own. That’s why you can also count on our Loan Experts to guide you through the entire process and ensure that you are on the right track.

    I'm ready to start, where do I click?

    So if you’re looking into buying or selling a second-hand car in Singapore, why not do it through our website? We guarantee you an experience that is both trustworthy and convenient so that all your needs are met. If you’re looking to get car accessories, you can also browse through our online shop where you can find interior / exterior accessories, electronics, safety products, and occasional flash deals. We want to be the one stop shop for your car buying and selling needs so whatever those needs are, let Carro help you meet them.

    Get Started
  • F.A.Q

    Frequently Asked Questions

    • Q1: How long does it take to get a loan?

      It will take around 3-5 working days, depending on the loan you take.

    • Q2: Who are our partners?

      We are currently working with partners such as DBS, Tokyo Century and several other partners to bring a whole range of loan services with exclusive rates to our customers.

    • Q3: What are the documents required for my application of the loan?

      You will need the following documents:

      • 1. Loan Application Form (Information of Hirer + Employment Details + Signature)
      • 2. Copy Of NRIC (Front & Back)
      • 3. Income Documents
      • a. Last 2 years Notices Of Assessment
      • b. Latest 12 Months CPF Contribution Statement or 3 month Bank Statement if Selfemployed
      • 4. Copy of Enquire PARF / COE Rebate for Registered Vehicle
      • 5. For Used / New Car loans - An additional Vehicle Sale Agreement is required.

    • Q4: What is the loan procedure like?

      1. 1. Send in your enquiry via a loan form above.
      2. 2. Our Car Heroes will reply you and ask for the submission of all required documents.
      3. 3. Your loan will be processed immediately upon the documents submission.
      4. 4. Our Car Heroes will keep you updated on the status of your loan application and proceed with further loan disbursement.

    • Q4: What are the processing fees involved?

      It depends on the types of loan that you are applying for. To find out more information, do feel free to contact our Car Heroes.

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