Electric vehicles (EVs) are no longer a futuristic concept—they’re here, and they’re transforming how we commute. If you’re considering making the switch, there’s good news: Singapore offers subsidies to make EV leasing more affordable. But are you eligible? Let’s break it down so you can make a smarter, greener choice.
What is EV Leasing and Why Choose It?
EV leasing means you don’t need to purchase the car outright. Instead, you pay a monthly fee to use the vehicle, often including maintenance, insurance, and other perks.
Why go for EV leasing in Singapore?
Lower upfront costs: No hefty down payment like buying a car.
Flexibility: Switch to newer EV models when your lease ends.
Peace of mind: Leasing providers handle maintenance and repairs.
Who Can Benefit from EV Leasing Subsidies in Singapore?
Subsidies aim to make EVs accessible for businesses and individuals alike.
You may qualify if:
You’re an individual: Some leasing companies extend subsidies to private lessees, especially for greener choices.
You run a business: SMEs can often access grants for EV fleets to reduce operational emissions.
You’re a taxi or private-hire driver: Singapore has schemes tailored to drivers transitioning from internal combustion engines to EVs.
What Are the Current Subsidies Available?
Singapore’s government offers several support schemes to make EVs an attractive option. Let’s dive into the main ones:
1. EV Early Adoption Incentive (EEAI)
Eligibility: For those registering new fully-electric cars and taxis.
Benefit: A rebate of up to 45% on ARF (Additional Registration Fee), capped at $15,000.
Leasing Impact: The savings can significantly lower leasing rates.
2. Commercial Vehicle Emissions Scheme (CVES)
Eligibility: For electric light goods vehicles (LGVs).
Benefit: Rebates of up to $15,000 for low-emission vehicles.
Leasing Impact: Perfect for businesses shifting to EV leasing for their fleet.
3. Grants for EV Chargers
Thinking of installing EV chargers at home or your office? Subsidies cover up to 50% of installation costs, capped at $4,000 per charger. This aligns perfectly with EV leasing plans that encourage at-home charging.
How to Check Your Eligibility for EV Leasing Subsidies
Looking for "how to apply for EV subsidies in Singapore"? Follow these steps to maximise your benefits:
Choose the Right EV Leasing Plan
Select a leasing provider that understands subsidies. Companies like Evfy integrate these benefits into your package.Review Your Income or Business Needs
Ensure your income level or business type meets subsidy requirements. For businesses, check if your vehicle emissions are eligible under CVES.Submit the Right Documents
Proof of residency or business registration.
Details of the EV model or lease contract.
Any supporting documents for subsidies (like ARF rebate forms).
Apply Through LTA or Leasing Partners
Subsidy applications often go through your leasing provider or directly with the Land Transport Authority (LTA).
Why Are More People Choosing EV Leasing Singapore?
Here’s what’s driving the trend:
Sustainability Goals: Singapore aims to phase out petrol and diesel vehicles by 2040. Leasing helps individuals and businesses adapt faster.
Convenience: Leasing removes the headaches of ownership. No resale worries, no costly repairs!
Customisation: Providers like Evfy offer plans tailored to specific needs, from individuals to corporate fleets.
Why Choose Evfy for EV Leasing Singapore?
Finding the right leasing partner is as important as choosing the right EV. Enter Evfy.
Comprehensive Subsidy Integration: Evfy ensures you enjoy every eligible subsidy, keeping your costs low.
Flexible Plans: From short-term leases to long-term contracts, Evfy adapts to your needs.
Exceptional Service: Need maintenance? Charger installation? Their team has you covered.
Ready to Go Electric?
If you’ve been thinking about EV leasing Singapore, now’s the time. With subsidies, flexible leasing options, and a growing charging network, switching to electric vehicles has never been easier.
Explore Evfy’s plans today to find the perfect EV leasing solution for you or your business. Let’s drive into a greener future—together.