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MAS Extends Car Financing Restrictions to Personally Owned Private Hire Cars
The Monetary Authority of Singapore (MAS) announced that, effective October 30, 2026, individuals purchasing cars registered as Private Hire Cars (PHCs) will be subject to the same financing restrictions as buyers of regular private cars. This means a Loan-to-Value (LTV) limit of 60% or 70% (depending on the vehicle's Open Market Value) and a maximum loan tenure of 7 years. This measure aims to prevent individuals from exploiting PHC exemptions to circumvent private car financing restrictions, ensuring financial prudence among PHC buyers.
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