A Comprehensive Guide to Car Leasing in Singapore 2021

Car leasing is a common practice in Singapore among businesses that have short-term needs for company passenger transport, but cannot justify the cost of buying and maintaining one under the company’s own cash flow.

A smooth leasing experience will depend on your knowing what to do, and what to look out for. Here’s a detailed guide on how to go about leasing a car in 2021 to save you time and money.


Step 1: Choose a Car

The first step you need to take is to choose the ideal car model for your company’s needs–whether it be a generic Toyota or Nissan for general use, or a more luxurious BMW or Mercedes for the personal use of the CEO or the transportation of VIPs, choose a model that provides the right mix of comfort, luxury and practical functions.

You’ll also need to choose a model by balancing how long you need it for, against how much the car might cost. If you need the car for a longer period, you may want to avoid more costly makes and models that will drain your finances.


Step 2: Test Drive It

Next, you need to confirm your choice by test driving it and seeing how it handles–especially if you are personally going to drive this car. There’s no point leasing a cheaper model if it makes you uncomfortable for the duration of your lease.


Step 3: Make Sure You Have a Good Credit Score

A car lease is basically the loan of a car to you–you have to pay it back in instalments, and with interest. Hence, like a typical loan, having a good credit score is important to help you get the best deal possible, with the most favorable payment terms.

A good credit score gives your lease provider the confidence that you will be able to meet your lease instalment payments, and pay on time as well, so it is crucial that your credit score is good. Being in poor standing for credit can result in your lease application being rejected!

You should undertake steps to ensure that your score is good by paying your bills on time and punctually.


Step 4: Compare Lease Deals

Once you’re sure you’re ready to start hunting for a lease for your desired model, it’s time to start looking around. Speak to different car leasers in Singapore to find out what their rates for leasing might be, or, for the best deals with the most reputed dealer of all, you could simply speak to us at ETHOZ car leasing.

What you should be looking for in lease offers are the valuation of the car, its age, as well as the amount you would be expected to pay for the car, as well as the payment schedule–when and how much you will need to pay for each instalment.


Step 5: Negotiate Suitable Payment Terms

Once you have settled on a prospective car lease that suits the duration you need the car for, you can discuss payment terms with your chosen lease provider, to ensure a package that best suits your needs and financial situation. For example, you can discuss how much downpayment to put down upfront, and also your timetable for payments.


Step 6: Familiarise Yourself with the Terms and Conditions

As with any agreement and contract you sign, you should familiarise yourself with the terms and conditions for the car you are leasing. Every contract comes with small print that stipulate numerous terms, and once you sign on the dotted line, you are deemed to have agreed and committed yourself to fulfilling these terms, regardless of whether you read the contract and knew the terms were there or not.

These terms can include fees and charges payable for changes to the lease, penalties for late payment or damage to the vehicle, as well as other obligations and requirements that you may have to follow as a lessee. Ensure you have read these terms in detail before signing!


Step 7: Inspect Your Car Thoroughly

The last step before taking possession of your leased car is to carefully inspect the vehicle for yourself. As with all car rentals, you will be held responsible for any damage done to the vehicle once it leaves the custody of the lease provider, so while you are still there, give it a thorough check to ensure that it is working well and undamaged in all major aspects.

Test the engine, check the gauges, lights and brakes, and visually inspect all exterior and interior areas for damage, such as dents, scratches, tears or discolourations and blemishes. Ensure that you report all these to your lease provider and make sure these are recorded as having been there before you took over the keys, or you will find yourself having to pay for damage that you never caused, when you return the car.


Leasing with ETHOZ

In addition to providing you some of the most competitive packages in Singapore for car leasing, ETHOZ also offers one of the widest ranges of available car makes and models for your selection, to meet your every need and purpose.

As one of the most established car rental providers in Singapore, ETHOZ also offers short term and long term car rental services for your needs if the duration or cost of leasing is not ideal for your situation.

With decades of market-leading experience in the automotive industry, ETHOZ is the first and only port of call you’ll need if you’re looking for a good car lease! Contact us today!

A Straightforward Guide to Choosing Business Loans in Singapore

When doing business in Singapore, oftentimes you will find the need for loans, to bridge the gap between what you have and what you want to achieve. Borrowing is a normal and common way to obtain additional financing, whether you are a startup, SME, or a large corporation.

However, the finance market is a very wide area, with numerous lenders offering a sometimes bewildering array of loans and packages. With Singapore’s reputation as a financial hub, any businessman would be spoilt for choice. So how do you pick the right business loan for your business? We present a simple, straightforward guide to help you identify your needs and narrow down your criteria.

 

1)  Know Your Loan Purpose

When you take out a loan, one of the questions you can ask to narrow down the loan you should pick is what purpose the money is meant to be used for. There are many business situations where money may be needed. Some are concentrated in one area, such as the need to purchase a specific asset or expand the business somewhere. Others are more general, such as day-to-day cash flow issues.

Depending on the purpose and how general it is, there are different kinds of loan available for you, and picking the business loan most suitable for your purposes can help save you a considerable amount of money. For example, a term loan is a general loan of money that can be used for any purpose, but it may also come with a higher interest rate than loans for specific purposes.

If you know exactly what you want to use the money for, then it is best to find a loan that suits the specific need you have (such as a working capital loan if you need to use the money to defray day-to-day operating costs) rather than take out a general loan. Of course, if you don’t know, or prefer to keep your options open, then it is better to take a term loan, though you may have to accept paying a little more in interest on average.

 

2)  Know Your Loan Cost

To any businessman, cost is at the top of their minds, because costs can make or break a business. Of course, when borrowing, the same applies. One of the major factors you should use to select a good business loan is the cost of the entire loan package. This consists not just of your loan principal, but also the interest, and also the fees that are added onto the main sums.

When comparing interest rates, different business loan packages offer a wide array of different rates, calculated in a variety of ways. It’s important to note that you should know how they charge and calculate your interest rate, and calculate which rate actually gives you better savings. For example, the lowest interest rate number may not actually be the cheapest interest cost, most commonly because the rate fluctuates, or because the loan period makes you pay interest for longer. One thing to note is that the interest rate is also affected by your personal and business credit rating. Choose the interest rate and lender that best keeps your costs low over the whole loan period.

If you have two packages with very similar rates and you can’t choose between them, then perhaps the additional costs will be the deciding factor. All loan packages come with fees and charges, and these can amount to a significant sum. Again, choose the loan that keeps your costs low over the whole loan period, so make sure you don’t just look at interest rates, but also look at fees to make sure they don’t erase what you managed to save from a better interest rate.

3)  Know Your Lender

One small factor, but a potentially significant one, is whether a lender lends regularly to your industry. If the lender does, the chances of them approving a loan, or at a better rate, may increase. While this may or may not lead to savings in money, it would certainly help to save time, especially in situations where your company may urgently need the loan and time is of the essence.

 

4)  Know Whether You Can Afford It

Lastly, the most important factor in picking a business loan is whether you can actually afford or risk it. Both in terms of the amount you’re borrowing, and the payment terms, you must have some measure of confidence to pay off the loans, i.e. to have enough in your company balance each time you need to pay an instalment.

 

If you can’t honestly manage the ideal business loan package you have your eye on, it may be better to replan your business goal and borrow a more manageable loan.

 

Can’t Go Wrong with ETHOZ

As one of Singapore’s most well-known names, ETHOZ has been serving the needs of businesses for many years. In addition to providing affordable and high-quality personal and corporate car rental and leasing, ETHOZ also offers loans to help companies achieve their business aims through ETHOZ Capital. Offering term loans, working capital loans, as well as a range of SME financing and microloans, ETHOZ is the ideal partner for your business loans and other financing needs.

Get in touch with us today, and discover how much we can help you with some of the most suitable loan packages for your business today! You can’t go wrong when you go with us.

 

 

Understanding different needs for MICE Chauffeur Service

M.I.C.E events is an acronym for Meetings, Incentives, Conferences and Exhibitions. These events are business-focused and held for tradespeople in industry specific fields such as aviation, logistics, medical and construction, for example. It brings together large groups of people in related trade areas for the purpose of facilitating business interactions, establishing market presence and broadening commercial networks. With a large number of people gathered in one place, a whole slew of services, logistics, accommodation and other essentials need to be catered for, it is an important subsegment of business travel that complements many other industries. There are also additional knock on effects that benefit the travel industry as it can involve a leisure component.

To visiting participants in a foreign country, transportation can be tricky and the last thing a business traveller should be bogged down with is commuting and navigation. This makes transport arrangements amongst the key factors for a successful MICE event.


More Than a Chauffeur Rental Service

At first glance arranging transportation for an event should be relatively straightforward. One would think that any and all transportation needs would be easy to satisfy by engaging a chauffeur rental service. However, there are several other important considerations aside from just going from point A to B that have to be thought through. For one, there is the question of how many guests are travelling together or if there are VIPs that require different service levels. Depending on the number and importance of these individuals, they could ride together which makes things easier or have to travel separately which would take more coordination. If there are especially distinguished guests, private transportation might have to be provided for each individual. There might also be special preferences and other logistical requirements to think about such as bottled water or in-car internet availability.

If your guests are coming from abroad, getting to and from the airport could be something to think about. Apart from making sure the vehicle is available at the required arrival and departure times, there also has to be sufficient space for luggage. This might necessitate different models of cars on different days, such as a sedan like a Mercedes on the days of the event and a van on the first and last day when more carrying capacity is needed.

During event days all the critical considerations come into play. Schedules and being at the right place at the right time are paramount, especially if one has meetings, demonstrations or even workshops to attend, whether as a presenter, trainer or just a participant. There could be multiple venues to shuttle between or meal time arrangements to take note of.

Often, MICE events make some time for entertainment. These could take place after working hours and the chauffeur rental company would have to be consulted on whether after office hours chauffeur services can be arranged. Being able to communicate with the chauffeur in such situations might be important and so ensuring that he can speak with the client in a common language should be another aspect to think about.

With ecological issues having entered the collective consciousness in recent times, ‘sustainability’ is a perennial watch word in every industry, even the MICE one. Through careful planning and logistical coordination, carbon emissions and air pollution can be reduced significantly. The Singapore Tourism Board has even prepared a set of environmentally friendly regulations1 specifically aimed at the MICE industry to achieve this. The guidelines list out different actions of varying complexity that can be adopted, such as renting vehicles that are fuel economical or consolidating pick up amongst several guests.

There are also constantly evolving challenges that affect the MICE industry and the transportation sector that supports it such as the ongoing pandemic. There needs to be plans that accommodate mandatory quarantines for inbound passengers from any given country when it becomes required. There could also be scenarios where guests need to receive medical attention.


Better to leave it to the Chauffeur Rental Professionals

As it outlined above, negotiating the different needs for MICE chauffeur services can be a painstaking endeavour to handle alone. In such a case, it may be better to leave it to the professionals. Engaging a company that provides chauffeur services puts the minutiae in the hands of experienced professionals, thereby ensuring the comfort, punctuality and safety of the passengers.

5 Things You Must Know About Servicing Your Mercedes In Singapore

If you own a Mercedes vehicle, you would have possibly invested a huge amount of money in driving one of the best global luxury car brands. As such, it would be self-explanatory that you want to keep it operating smoothly for a long period of time. This would require a sufficient amount of servicing done to avoid possible vehicle breakdown or faultiness. In this article, you would understand a comprehensive list of things that you would need to know about servicing Mercedes.


1. Apply Car UV Protection

One of the essential steps to service a Mercedes is to apply UV protection to protect the car’s paint from damage due to UV sun rays. The service company would apply wax that provides a sufficient amount of UV protection against the harmful UV sun rays. The protection layer is typically inside the vehicle. Moreover, there are other cleaning materials available in the market to coat the protected layer and keep the vehicle looking brand new for a longer period of time.


2. Check Car Components

Every car, including Mercedes, has a few important components that require regular servicing such as hoses and belts to keep it running and operating. Some examples are timing belts and coolant hoses. If one of the belts breaks or if the hose bursts, the car will face a major issue on hand. Therefore, it is important for car owners to perform regular servicing to see if the Mercedes belts or hoses have potential damages. As such, immediately schedule a Mercedes service as soon as possible at the nearest facility.


3. Check Tire Pressure

It is important to make sure that the tire pressure is at the recommended safe psi. Most car drivers do not know that their tires are under-inflated, which can lead to potential high risks of car accidents on the road. In order to prevent such accidents from occurring, make sure that your tire pressure is at the recommended psi level. Besides checking the right tire pressure, it is important to ensure that it is adjusted at the right alignment.


4. Check Vehicle Lights

The next important step to take is to ensure that every car light is working properly. It includes the headlights, taillights, brake lights, reverse lights, hazard lights, signalling lights and turn signals. If one of these lights is not working properly, immediately send your car for servicing. As for burned or damaged light, you can have it replaced at any car facility of Mercedes.


5. Cost of Servicing

To keep your Mercedes operating smoothly for a long period, you need to make sure that you schedule for regular servicing. But don’t forget to check the total cost of servicing, and prepare yourself financially! What people don’t consider is how costly and expensive it is to maintain the vehicles, especially for luxury car brands such as Mercedes.


Most Singaporeans own and purchase a vehicle to run errands, travel with friends and family members, or simply commute from home to work and vice versa. It can be extremely costly to service the car regularly. Car servicing and maintenance plans are rarely within the budget because nobody plans for their car to wear and tear or break down. And it is typically too late when drivers notice that their cars are in need of maintenance and service – leading to costly fixtures.

Thus, it is rather important for drivers to attend any Mercedes workshops in Singapore to learn preventative maintenance measures. This helps them to be better prepared financially and emotionally for their luxury vehicles. It is also essential for drivers to know that regular Mercedes servicing is vital in helping them to save costs efficiently; or in another word, to prevent paying high costs of car repair fees in Singapore.

If you don’t want to miss out on any good deals at local Mercedes workshops, you can check out the skilful and professional mechanics at our remarkable ETHOZ Mercedes workshop, under our ETHOZ Mercedes Premium Care Maintenance Programme.

Alternatively, if you’re driving somewhere where you don’t want to bring your precious Mercedes ride, you can rent from us! ETHOZ also offers auto rental and leasing, capital financing equipment leasing Solutions, commercial vehicle financing, and other car rental services in Singapore to drivers and business owners seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount.

Evolving from its humble roots in car leasing to become a full-fledged Automotive Solutions provider, we pride ourselves in prestigious automobile rental services with all sorts of features and functions to satisfy your needs. Furthermore, the quality and expertise of our fleet management team ensure that dedicated efforts and service works are offered to sustain long term relationships with everyone.

The mechanics at our Mercedes workshops are more than equipped to handle your luxury car with maintenance needs such as the need to provide authentic Mercedes components and parts for replacements or repairs. With ETHOZ, you can be assured of the most cost-efficient and honest advice in order to prevent unnecessary excessive spending.

How Borrowing with High Interest Costs can Kill Businesses

Businesses need financial funding to be able to progress successfully in the marketplace. However, loans will add up and too much borrowing can lead to more liabilities for the business. Business loans are a popular or famous choice for new startup businesses besides opening a line of credit or corporate credit cards. The amount of loans borrowed differ in loan companies, with different interest rates. Thus, some rare cases involve businesses keeping themselves out of financial risk by getting investment from family and friends. That being said, we will understand in this comprehensive article about how borrowing business loans with high interest rates will slowly kill businesses.

 

Why Do Businesses Take Loans? Cash Flow

The first reason for borrowing is the cash flow that a business needs. When a business starts to operate, the profit, capital and revenue are generally low and cannot cover much of the normal expenses. Moreover, the business needs to offer salary for employee and personal expenditures – especially if the wages or salaries need to be paid punctually. Apart from its personal expenditures on labour, the business would need to pay for its rent, utilities, insurance and other significant regular expenses that are norms of a business operations. These can be covered by a business loan such as a working capital loan.

 

Potential Expansion

Your business is already doing well, and it has garnered much attention and awareness in the market. Thus, the demand for your products or services have significantly increased. What happens next is the potential business expansion that you need and this comes with new additional expenses. If your company has outgrown its current potential capacity and it requires a bigger space, that means more rental, maintenance and operational fees. This would mean that you need to receive more funds to meet the increased demand for your product or services, through a business loan like a term loan. Moreover, you have to obtain the funds to pay for manufacturing costs, hire new employees – causing an increase in funding. Thus, the amount of funds you have borrowed would also differ and depends on the extent and type of interest rates inputted.

 

Disadvantages of High Interest Loans from Borrowing

Once the business has started on its borrowing and once it starts to accumulate, the loans become extremely large till the business owner finally notices how bad the situations are. It is then difficult to recover and pay from a large amount of debt. The recovery process would take some time for the business due to its incredible large amount accumulated from high interest rates.

Firstly, the business is legally and ethically obligated to pay back the principal borrowed from the loan company along with its interest amount. Businesses that are already suffering from cash flow problems may then face a difficult time of repaying the money with its incremental and additional cost of high interests. If the principal cannot be paid on time, there will be punishment or penalties that are given to these companies.

Moreover, the previous point will lead to how debt or loan financing will affect the credit rating of a business. If the company or business is known to have a significantly greater amount of debt than equity or capital financing, it is then considered risky. What happens next is that a company with a lower credit rating generally will have to pay a higher interest rate to attract investors to invest in their business. And this means that the company or business who have to pay more interest may even experience a potential cash flow problem in the near future.

Thus, the business or company that seeks to obtain debt financing must meet the lender’s cash requirement, which means that they need to have sufficient cash on hand. And if they require even more funding in future, but still have outstanding debts, the business might potentially shut down and still have debts owing on hand. This is not an ideal situation, especially if the interest rate is extremely high. Thus, it is difficult for businesses depending on debt financing for further cash support. Some companies or businesses may even have to put up collateral to qualify for financing. And it is quite embarrassing to be owing a huge amount of debt, in an industry full of successful businesses.

 

How to Move Forward

At this point, we believe that you have understood the impact of having high interest rate borrowing from loan companies. What’s important for you then is to find a professional, reliable and affordable financing provider for your business.

As one of the top professional providers of affordable capital and financing solutions in Singapore, ETHOZ offers capital financing, SME micro loans, term loans, equipment leasing solutions, commercial vehicle financing, auto leasing, and other financial and automotive services to businesses in Singapore seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount. For companies looking to save costs and support their cash flow, ETHOZ has a solution for you.

Evolving from its humble roots in car leasing to become a full-fledged financial solution and automotive provider, we pride ourselves in helping businesses to save costs and obtain the financing they need to grow and thrive.

If you ever need any help to support the financial aspirations of your business, you can simply reach out to a member of our team at contactus@ethozgroup.com to explore the options available to you. 

 

 

Equipment Leasing: The Way Forward in the Post COVID-19 World

As COVID-19 has disrupted many business operations, they had to learn to adapt to the unfavourable situation. It is no surprise that the demand for vehicles has weakened due to the economic disruption. This lower demand leads to lower revenue which will continue for a period of time, before the economy fully recovers.

The leasing market, on the other hand, has always been expanding in the markets through all stages of an economic cycle. It has been proven in the past to be a strong financing alternative even at times of an economic depression crisis. During the great depression back in the 1930s, companies that utilised alternative solutions of leasing out equipment have consistently performed well. Why is this so? Potential customers and clients who are badly affected by the financial crisis will seek to look for cheaper and efficient alternatives with equivalent needs to be satisfied. In this article, you will understand the good uses of equipment leasing, especially in times of an economic crisis.

 

 

Saving Costs

Equipment leasing saves your working capital that would otherwise be used if you were to make cash payment for your desired equipment. By using an equipment leasing system, you can still receive your specific equipment needs and spend at a budgeted amount. This allows you to save costs and make affordable payments over a period of time. It is an efficient system that allows you to save your money for business expenses and execute operational expansions in times of post COVID-19 situations.

 

 

Competitive Advantage

Equipment leasing gives you a competitive advantage which could help you to stay on top of the latest advances in equipment and technology. Leasing equipment also allows you to adjust as the industry progresses and increases flexibility as you can make upgrades to newer equipment. This advantage that you receive will not be possible if you choose to buy equipment, as you are stuck with it till you sell it. Thus, equipment leasing is most suitable if you have to use equipment that needs to be constantly updated with better technology and capabilities.

 

 

Repair and Maintenance

Repair and maintenance is a major factor when you purchase any piece of equipment. However, equipment leasing agreement will help businesses to avoid any incremental costs for repair and maintenance. In most circumstances, the leasing company will cover the cost of repair and maintenance equipment in the event that it breaks down or spoils. They will provide the benefit of repairing and maintaining the equipment as necessary.

 

 

What to expect in Equipment Leasing Process

When applying for an equipment lease, you can expect the process to include the following steps.

 

Step 1

First of all, you need to complete an equipment lease application. Repair and maintenance is a major concern for any piece of equipment, especially when you buy it. A leasing agreement will help businesses to avoid any costs for repair and maintenance. The leasing company, in most cases, will cover the equipment cost in the event that it breaks down, and the company will repair and maintain the equipment accordingly.

 

Step 2

Upon submitting the lease application, the company will contact you within 24 to 48 hours.

 

Step 3

Once you receive approval, you must review and finalize the lease package, including monthly payments offered by the company. You will be required to sign the documents and resubmit them to the company, along with the payment.

 

Step 4

When the company receives and accepts your documents and payments, the lease will now take effect and you are free to accept leasing delivery of the equipment and commence any upgrades necessary.

 

 

Where to Lease Equipment

When it comes to leasing equipment, it will be wise if you choose a professional company with remarkable years of experiences. The ETHOZ Group provides equipment leasing in Singapore, where you can enjoy all the profit-generating benefits and convenience of having your own equipment without the headaches of asset depreciation. This is an ideal financing option for companies looking to increase liquidity and better manage cash flow.

Equipment leasing allows you to bring in the equipment and technology your business requires without expending your working capital or business credit line. Here at ETHOZ, we understand how equipping your business with the right equipment can help increase productivity, improve efficiency and make a dramatic improvement to your bottom line. Apart from that, equipment and technology are extensions of your company’s brand that plays an important role in how your company is perceived by your customers and prospects.

If you ever need any equipment leasing solutions in Singapore, you can simply reach out to a member of our team at contactus@ethozgroup.com to explore the options available to you. If you like reading more of such content, head over to our blog to learn useful tips and case study!

 

 

How To Manage An Emergency On The Road

There are certain things that you need to know in advance whenever you go for a drive. Driving typically consists of having accidents on the roads. A car emergency preparation is one of those important things that some people don’t value. Learning how to manage a car emergency is essential and imperative, as you would’ve prepared a number of tools that can help you in traffic situations.

Whether your car has broken down on the side of the road or got involved in a minor car accident; you need to manage them properly. During a car emergency, you might be anxious and terrified, not knowing what to do especially if you’re alone. Thus, the article has a comprehensive list of ways and techniques to address a car emergency, particularly since it seems to happen in the least expected circumstances and moments.


1. Car Breaks Down

A car breakdown is one of the most common emergencies on the road. To manage the car break down, try to slowly park or move the disabled vehicle to the side of the road, or a visible area of the road.

This is to ensure the safety of the main driver and other drivers who are aware of the car breakdown. It is important as they will slow down their cars, especially on the expressway. If possible, turn on the emergency flashers to keep all other passengers away from the traffic. Call for the relevant hotline to get the car out of the traffic – car towing services.


2. Car Tire Blowout

Car tires tend to wear out after driving for a period of time. In fact, these car tires wear and tear over time even if they’re not being driven on the road. Although the car tires may appear to be in good condition, the rubber inside is actually weakening.

When you are aware of the blowout, halt the car immediately to prevent the car from flipping over. Do not use the brakes and take your stop the gas pedal and control. Slowly pull over the car towards the shoulder of the road.

If you have a spare tire at the back of the car, you can change it by yourself or get help from other car drivers. It is important that you are far enough off the main road so that you will not distract the moving traffic. If you don’t have the spare tire, call for help and follow the breakdown information.


3. Brake Failure

In the event of a brake failure, you should immediately pump the brakes and use any of its residual pressure. Then slowly stop the gas pedal and try changing to a lower gear. If possible, you can use your emergency brake to control the car. With an emergency brake handle, you can keep the button on the end pressed down so the wheels will not lock up. If you do not know how to use your emergency brake, try contacting a relevant hotline to get help.

In certain circumstances, you can look for something to rub the car against. A small fence, lamppost, or bushes would work for minimal impact on the driver and car. Try to choose an object or area that will give way when you hit against it to minimise damage to the car and to you. Once the car is stopped after hitting a particular spot, do not drive it again until the brakes are fixed.

Check for your car insurance plans to get claims for damaging the car and public areas. It’ll be favourable if you have health insurance to cover any car accidental incidents.


4. Overheating Engine

A car engine tends to overheat especially in hot weather conditions, or long hours of driving. Thus, you should always keep a watch out on the temperature gauge and prevent engine overheating. If possible, do not not drive at fast speeds for long periods of time, or drive in lower gear. Other techniques to prevent overheating engines include turning off the air conditioning.

In some cases, the car temperature warning light might come on, or points to the red zone. You should halt the car immediately and turn off the engine. Doing it early might prevent the car from catching fire. In unfortunate cases, if your engine catches fire, stop the car as soon as you can safely. Guide other drivers to leave the roadway quickly. Then get to a safe zone and call the emergency hotline to extinguish the fire and prevent possibilities of car explosion.


A Better Alternative

At this point, you might be worried about the consequences to bear for a car. Besides paying road tax, COE, insurance and maintenance fee, you have to worry about possible car emergency issues on the road. Therefore, we have provided a better alternative for you: rent a car with everything ready for you.

Renting a car will be most suitable if you are only driving a car for temporary reasons. Moreover, you don’t have to worry about the financial burden of owning a car. And if the car rental comes at a cheap and affordable rate, that’s even better!

As one of the top professional providers of affordable automotive services and car rental in Singapore, ETHOZ offers all kinds of car rental services in Singapore to drivers and business owners seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount. Moreover, ETHOZ offers round the clocks roadside assistance (24/7) and replacement vehicles when needed. We also work with several insurance companies to support their insurance policy holders[LL6] in the event of a car accident.

Evolving from its humble roots in car leasing to become a full-fledged car rental and Automotive Solutions provider, we pride ourselves in prestigious car rental services with all sorts of features and functions to satisfy your needs. Furthermore, the quality and expertise of our fleet management team ensure that dedicated efforts and service works are offered to sustain long term relationships with everyone.

3 Ways the Automotive Industry will Be Affected In Post-COVID World

The global automotive industry saw its crisis when COVID-19 pandemic swept across the world. While the sales of automotive vehicles had fallen in January, February saw the biggest fall ever recorded in the global time series, with sales declining by 79.1%. Many businesses ranging from food and beverages to automotive industries are significantly affected by the unpredictable crisis, preparing to deal with unfavourable post-COVID situations. In this article, we will provide a comprehensive list of ways the automotive industry will be affected in post-COVID world.


Alternatives to Automotive Car Purchases

COVID-19 triggered reversal of trends such as increase in car rental services and decline in car sharing/carpooling due to social distancing. The demand for car sharing, ride-hailing or carpooling has also been impacted. While this does not really come as a surprise, more individuals have switched to the alternative of car rental services due to its wide range of customisable options. As COVID-19 has led to structural changes in shared transportation choices, professional car rental companies have come up with better solutions for all. With less usage of cars for personal use due to increase in working from home post COVID implementations, individuals have switched to car rental commutations.


Decrease in Supply Chains of Automotive Cars

The production of automotive cars was severely impacted as car factories started to close. From as early as February 2020 when COVID-19 started global widespread, most factories have suspended manufacturing due to lack of sales. The closures had a huge impact as seen in the drastic fall in the world’s auto supply chain. As the virus spread worldwide, many car factories in Asia, Europe and North America closed down, further hurting the economy.

With orders being put on hold, the slowdown in the supply chain will also postpone new car launches until the situation is relieved. In the near coming months, some factories are able to open due to existing automotive digitalization strategies.


Taxis and Private Hire Drivers

With a huge number of tourists and individuals staying at home due to the pandemic, taxi and private hire drivers are getting fewer rides. This is especially worrying for local drivers as their daily livelihoods are severely impacted by the coronavirus. However, there were some car rental operators that provided rental waivers or rebates to help their drivers pull though economically. The unexpected COVID-19 has brought cyclical impacts such as higher unemployment and lower income in the automotive industry.

The lockdown measures have further worsened the situation for taxi and private hire drivers as people are scared to grab a ride due to the virus. The effects on the labour market are particularly apparent, where the number of jobless claims has increased. This indirectly caused the drastic drop in the trend of hiring taxi and private drivers.


How to Move Forward

At this point, we believe that you have understood comprehensive ways of how the automotive industry is impacted by COVID-19. Therefore, we have provided a platform – an automotive company to answer you with professional financial solutions.

As one of the top professional providers of affordable automotive services and commercial vehicle rental in Singapore, ETHOZ offers auto leasing, capital financing equipment leasing Solutions, commercial vehicle financing, and other car rental services in Singapore to drivers and business owners seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount.

Evolving from its humble roots in car leasing to become a full-fledged Automotive Solutions provider, we pride ourselves in prestigious automobile rental services with all sorts of features and functions to satisfy your needs. Furthermore, the quality and expertise of our fleet management team ensure that dedicated efforts and service works are offered to sustain long term relationships with everyone.

A Comprehensive Guide to Customizing Commercial Vehicles in Singapore

Most business owners know that a customized commercial vehicle can help to improve efficiency and profitability. Being able to enhance its features can help workers to quickly access more tools and supplies. This can also reduce the time taken for business processes such as making deliveries or simply attending to customer service operations. To find out more about other customisation features, read the article for a comprehensive guide.

 

Customization of Commercial Vehicles

When it comes to customizing a commercial vehicle, one will look out for components such as the open deck, box, tailgate, freezer, full canopy and half canopy. Simply customizing these features will help to enhance work efficiency and reduce time taken for certain services or operations.

For each customised configuration, we will discuss further about its implications.

Commercial vehicle customization can lead to innovative new functions and uses. It is common for a business to understand that there are many opportunities to work better and smarter by making vehicle alterations. Commercial vehicles can be redesigned and further enhanced according to how you want to work and how you can work your best.

Open Deck

The open deck allows for accessible transportation of tall or compact goods and inventions for space and load optimisation. The open deck can also be customised to suitable materials such as wooden or steel decks. These open decks are usually used in various business industries such as logistics and warehousing, as well as freight forwarding.

Box

If you are looking to customise a commercial vehicle with a box, you are probably working in a company that transports home appliances, furniture, or any medium weighted goods. In this case, you can seek to customise the commercial vehicle with a box such that it has a rear door and side sliding doors.

Tailgate

A commercial vehicle with a tailgate is able to load goods from ground level or a loading dock to the level of the vehicle bed, or both. This is usually essential in industries such as food and beverage business, home appliances, furniture, or any weighted goods. The tailgate of commercial vehicles can be customised based on the types of vehicle model and the loading and unloading requirements. The customization is made such that it helps to meet specific industrial needs.

Freezer

The freezer of a commercial vehicle is used to maintain suitable temperature for frozen goods and transporting them for the highest level of satisfaction. This is mostly used in food and beverage industries. Some examples include bakeries, confectionery shops, dairy food, agricultural and livestock manufacturers or distributors. Some freezers can be customised to include a good quality stainless steel floor or heavy-duty reinforced flooring and carpeting with high corrosion resistance and durability. Moreover, there are other wide varieties of customisation options such as single or twin compartment, standby generator and thermograph to provide customers with different purposes or choices.

Full and Half Canopy

The canopy commercial vehicles are best suited for transporting passengers and goods. They are good in protecting the transported goods from unfavourable weather conditions. Drivers can customise them in available options of full, half or inter-changeable canopy structures. These canopy vehicles are typically used in labour related works, logistics and warehousing, freight forwarding, construction, as well as food and beverages industries. Some canopy can be redesigned to different lengths and materials to keep your tools dry, secure and in optimal working conditions.

Price of Customization

Depending on what components you are seeking to enhance, the price might differ significantly. Add-in custom modifications to more complex components in larger vehicles such as the compartmentalised freezer box can be pricier. Minor enhancements to commercial vehicles components such as the canopy will be less costly.

 

Other Solutions

At this point, you might be interested to customize your commercial vehicles. But there are certain obstacles such as the selection of contractors, the vehicle’s inspection and financial cost that you have to bear for the add-ons in order to experience the advanced functions. Moreover, commercial vehicles cannot really be used for personal transportation, unlike private cars.

Thus, we have a reasonable solution for you: rent a commercial vehicle from a professional commercial vehicle rental company with everything ready for you.

Commercial vehicle rental provides the same quality that you’ll receive with vehicle customization, except at an affordable cost. You could even choose a commercial vehicle depending on what specific needs you may have. You can easily select your favourite series and save costs of maintenance fee and eliminate upfront payment for additional commercial vehicle customization features.

You can also choose between a long-term lease, and a short-term rental. If you only use commercial vehicles solely on a few events or currently own a substantial fleet of vehicles, then, it is best for you to just rent it – for convenience and cost efficiency. While meeting unique operational needs, you have kept a rein on cost efficiency.

As one of the top professional providers of affordable automotive services and commercial vehicle rental in Singapore, ETHOZ offers commercial vehicle rental in Singapore to business owners seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount. We offer customisations for vehicles on long-term lease, and a wide range of pre-customised commercial vehicles for short-term rental.

We pride ourselves in prestigious automobile rental services with all sorts of features and functions to satisfy your needs. It is apparent that our growing strength of customers are constantly benefiting from the quality of our commercial vehicle rental services. Furthermore, the expertise of our fleet management team who provide dedicated efforts and service works has ensured our business to sustain long term relationships with all clients and customers.

Should You Rent A Car in Singapore: The Pros & Cons to Consider

Overview of Car Rental
When you rent a car, the company providing you the car is known as the car rental service provider, whereas you become the hirer. An individual can rent a car for travelling in the outside place. While utilising a car rental service, you can rent the vehicle for a specific period of time.

 

Car Rental in Singapore

Although we can travel to almost everywhere in Singapore using our remarkable public transport, we still love to rent a car for the convenience, business purpose, or just a simple reason – enjoying the air-con in our sunny island. And renting a car in Singapore is pretty easy because there is a huge range of car renting service providers including sophisticated international companies like Budget or Hertz.

The cost of car rental services differs significantly in Singapore – famous companies are definitely more expensive. Fortunately, Singapore has plenty of affordable car rental providers, so you’ve got many options.

 

Pros of Car Rental in Singapore

Many individuals feel that it is beneficial to rent a vehicle especially during an excursion for work or family. It is also convenient to rent a car when your vehicle is under repair/in the workshop for a particular time frame. To sum up, there are quite a few advantages of car rental in Singapore.

 

1. Affordable Cost

The cost of renting a car is a small amount as compared to the expense of purchasing your own vehicle. The overall cost of owning a vehicle in Singapore is incredibly high (including additional cost of road tax and COE). Car rental is a more cost-effective option if you do not intend to drive the vehicles constantly.

Short term car rentals can save you from the worries of maintenance fee and depreciation loss (wear and tear). If you don’t need a car everyday and tend to use it on special occasions only, it is best for you to just rent it to save yourself from unnecessary cost burden of insurance fee, servicing and Ministry of Transport test car inspection (MOTS).

 

2. Accessibility

There are many car rental companies out there with remarkable services. A good car rental company will give you access to a stunning variety of different cars and types. Depending on your preferences, you can observe the available options and pick your favourite car.

Although you may say buying a car also gives you unlimited choice, renting allows you to drive for shorter term needs, and readily access and switch to different vehicle types based on how your needs change—instead of being stuck with the same car you bought. Plus, if you’ve ever aspired to drive a higher-end luxury car that you can’t afford to buy, you can get a chance to experience it at a much more affordable price by renting it—without having to worry about monthly car instalments after!

 

3. Convenience

If you are hoping to spend an excursion or occasions within the city, you have the opportunity to rent a vehicle conveniently for the short term. Doubtless to say, car rental is extremely essential if you don’t have a car and you’re planning for a road trip, family hangouts or business trips in Singapore.

Unlike travelling on public transport, you can stop anytime to admire any local sights with your friends or family members. Travelling with other strangers in a public transport will only allow you to see sights in a limited view and communication. While riding on a rented car, you can also define your own route or take alternative ones conveniently.

Thus, it is safe to say that travelling in a rented car gives you convenience and more time to admire the sights with your beloved ones. There is a certain effect of adrenaline when you are driving on your own.

 

4. Comfort & Fun

Renting a car allows you take your wild adventures at your own pace without being dictated by bus and train times. Sometimes, travelling on public transport can be a hassle if your plan doesn’t go smoothly.

Travelling on a car is faster and more accessible as compared to walking, taking buses or trains. Renting a car also offers you the comfort to move around flexibly; you can dance along with the familiar tune on the radio, talk to your friends or family members in a natural tone that you want or relax and be as comfortable as you want.

 

Cons of Car Rental in Singapore

While there are many advantages for renting a car, it also comes with their cons.

 

1. Strict Rental Terms and Conditions

Some rental car companies might have a policy with stringent conditions. This is implemented so that hirers are more careful in using the vehicles.

At the end of the rental agreement, you must return the vehicle in its original condition. This means that you must take good care of the car.

 

2. No Rebates Entitlement

Hirers are not entitled to benefits of Car Ownership, for example rebates such as PARF rebates. PARF rebates are only for cars not more than 10 years old and taxis not more than 8 years old.

The newer your car or taxi is when you deregister, the more PARF rebates you will get to enjoy. To enjoy the PARF rebate, you must meet the eligibility criteria of owning a car (doesn’t apply to rentals).

 

3. Only Authorised Drivers Allowed

Only named and authorised drivers can drive the rented cars. If you intend to have more than one person driving the car, it is compulsory to add an additional named driver into the rental contract. A small additional fee will be charged for insurance coverage. Unlike a purchased car where any family member with a driving license can drive at any point in time, driving arrangements must be made beforehand for a rented car. These are additional procedures that drivers need to go through before renting the car.

 

Conclusion

Car ownership in Singapore can be rather expensive and complex. The Certificate of Entitlement (COE) is also a formidable barrier to entry for the average consumer. However, your need for convenience and accessibility can be met by car rental services in Singapore.

ETHOZ Group is a professional car rental company in Singapore with 40 years of experience. With professional services and affordable pricing, rest assured that you will have a smooth and safe trip to your destination. We provide professional car rental in Singapore with a fleet of readily available and reliable vehicles at competitive rates to meet all our customers’ needs and customisable wants. Speak to our friendly team at 66547788 or drop us an enquiry at contactus@ethozgroup.com to explore the car rental options available to you.