DBS, sgCarMart and Carro to create Singapore’s largest direct buyer-to-seller car marketplace
With some 3,500 direct-owner car listings, DBS Car Marketplace's official launch makes it Singapore's first online consumer marketplace helmed by a bank.
This follows the Monetary Authority of Singapore's (MAS) announcement in June this year proposing to allow banks to operate digital platforms that match buyers and sellers of consumer goods or services.
DBS Car Marketplace also provides several exclusive benefits for buyers and sellers.
Sellers can list on both sgCarMart and Carro at one go for free (listing fees are waived till 4 October 2017).
Buyers will enjoy DBS' most attractive online interest rate of 1.99% p.a. (EIR 3.77% p.a. over a 7-year loan) on their DBS car loan when they buy a car through the DBS Car Marketplace, till 31 August 2017.
An on-site car budget calculator provides the estimated loan amount the buyer is eligible for, and then serves them a list of cars based on their budget.
If they find a car they are interested in, they can arrange for a test drive online with the seller directly.
Finally, both buyers and sellers will be fully guided and enjoy free paperwork services for car ownership transfers. ■