The facts

  1. For vehicles with an open-market value of S$20,000 or less, the maximum loan-to-value ratio is 70%; above that threshold it is 60%. The purchase-price base includes applicable taxes and the certificate of entitlement. [1][2]

  2. The restrictions cover individuals, including sole proprietors, obtaining loans from financial institutions and licensed or exempt moneylenders. Hire-purchase and conditional-sale agreements are also covered. [1][2]

  3. They apply where a sales agreement is signed on or after 30 October 2026. Where there is no sales agreement, the relevant date is when the certificate of entitlement is obtained. [1][2]

  4. Commercial vehicles, business-owned private-hire cars and motorcycles remain exempt. The government's release describes further work on consistent coverage of arrangements such as in-house loans; it does not say that all such future measures have already been adopted. [1][2]

Sources

References support the numbered facts above. Source checks: 30 Oct 2026, 16:29 UTC.

  1. Motor Vehicle Financing Restrictions Extended to Individual-Owned Private Hire Cars

    Singapore MOT, MAS, METI and Ministry of Law · Primary source · 29 Oct 2026

    Actual joint release read. It identifies the effective date, sales/COE transition, OMV versus purchase-price distinction, covered arrangements and exemptions. The separately gazetted taxi-re-registration rules starting 1 November are not conflated with this measure.

  2. Singapore closes car loan loophole by extending financing curbs to individually owned private-hire cars

    CNA / Mediacorp · Reporting · 29 Oct 2026

    Actual CNA report read, including the official announcement and independently gathered responses from the drivers' association and Grab. CNA is a separately operated Mediacorp newsroom; much of the rule description shares the joint ministerial release, rather than constituting separate legal enforcement evidence.

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