A hire purchase that covers vehicles in Singapore is an agreement drawn up to rent a vehicle and to buy it soon after

A hire purchase that covers vehicles in Singapore is an agreement drawn up to rent a vehicle and to buy it soon after. If you come into a hire purchase agreement, you therefore give your consent or you agree to hire the vehicle until you have completely settled what you owed to the bank or financing company.

At this point you might be asking, “how can I know whether my hire purchase application falls under the Hire Purchase Act? The acquisition of vehicles which total value does not exceed $55,000 is governed by the Hire Purchase Act 1969 and the successive Hire Purchase Amendment Act 2004, whether it is a new car or a second hand one.

The trouble begins when you, the hirer, fall short ...