You can use our Hire Purchase (HP) facility to finance your purchase of vehicles. This is a financing arrangement for your commercial vehicle purchase whereby we will pay the vendor directly. The Bank therefore acquires and retains legal ownership of the financed asset, while you will become the hirer. The ownership of the financed asset will be transferred to you when the final instalment is fully paid. This is unlike a term loan where the borrower holds legal title to the goods from the outset.
UOB believes in providing financial support to your business, including your vehicle financing needs. With our attractive interest rates and flexible repayment period, you can now acquire a vehicle while better managing your cash flow.
- With UOB’s attractive Commercial Vehicle Financing Package, you can now finance the purchase of your commercial vehicles with ease. UOB offers competitive interest rates and maximum financing of up to 90% of the valuation or purchase price, whichever is lower. The maximum loan tenure is seven years.
- All businesses registered in Singapore are eligible to apply for UOB's Commercial Vehicle Financing facility
- Call us at 1800 226 6121
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