Driving for Grab or Gojek as a private-hire driver is a norm these days and there are also a slew of benefits that come with it.
Many Singaporeans are given the opportunity to be their own boss with these taxi-hailing apps. Whether you are a full-time, part-time, or even a new Grab or Gojek driver looking to make driving your job, read on to find out more about how a Grab/Gojek loan can help you kickstart or sustain your career.
What is a Grab/Gojek loan?
A Grab/Gojek loan is a personal loan designed to help Grab or Gojek drivers meet their financial needs. It is an affordable and low-interest loan that is affordable and safe for Grab or Gojek drivers out there.
The life of a private-hire driver can get pretty challenging at times, especially with long hours on the road or when times are hard. If you need some extra cash to make ends meet, getting a Grab/Gojek loan will come in handy.
Here are some reasons why every Grab or Gojek driver can benefit from this loan.
1. Finance your cost of getting started: Car rental, petrol and parking fees
To get started driving a private hire car, you need to first either buy or rent a car if you don’t have one.
While renting a car is more cost-efficient than buying one, as you don’t have to worry about paying for COE and downpayment for a car, it is still a huge commitment as you will need to pay for petrol, insurance, parking fees, and other miscellaneous costs.
If you need some cash to get started, a Grab/Gojek loan would come in handy.
2. Ease your cash flow during emergencies
It is always wise to prepare for a rainy day. Emergencies can happen anytime, anywhere. For drivers out there on the road, there is always a risk of accidents.
A Grab/Gojek loan can be useful if you have been involved in an accident and need urgent cash to repair your car or to tend to a medical emergency.
Unforeseen circumstances can affect a Grab or Gojek driver’s income. During times like these, when used wisely, a Grab/Gojek loan can be an excellent and reliable source of funds to help you through an emergency.
If you are unsure of how you can successfully manage a cash loan, click here for some tips.
3. Tide you through periods when business is slower
When driving a private hire car, there will be lull periods when business is slower than usual, or when you are facing greater competition from other drivers.
However, even when you are not earning as much as your regular income during better days, you still need to pay for your petrol, parking fees, and other costs related to maintaining your car. Not to mention, you still need to pay for your (and your family’s) daily expenses as well as rent or mortgage, utilities, and so on.
This may cause you to dig into your savings if your income during such lull periods is not enough to cover your expenses.
If you are struggling with your cash flow, a Grab/Gojek loan will be able to help tide you through, and you can repay it comfortably in instalments — which would be easier once business picks up.
Get a Grab/Gojek loan with a reliable licensed money lender
Soon Seng Credit is a licensed money lender in Singapore offering the best personal loans for consumers. We have one of the lowest interest rate personal loans in town and offer flexible repayment schemes to suit your needs.
Grab or Gojek drivers can borrow up to 6 times their monthly income depending on their annual income.
Our top priority for private hire drivers is to offer quick and simple Grab/Gojek car loans so that they can focus on their careers without having to worry excessively about emergencies. As one of the top licensed money lenders in Chinatown, Singapore, you can be assured that we handle all our loans professionally, with transparency and efficiency.
How to qualify for a Grab/Gojek loan with Soon Seng Credit?
Our application criteria are simple. To apply for a Grab/Gojek loan with us, all you have to do is meet the following requirements:
- Be at least 18 years old
- Be a Singaporean/Permanent Resident/foreigner with a valid working permit
- Be employed with Grab, Gojek, or other private car hire companies
- Provide proof of vocational license and last 3 months’ proof of income from driving a private hire car
- Provide other relevant documents such as car rental agreements
Simply submit your application online through our website. Our loan officer will be in touch with you shortly to discuss your loan requirements and needs. You can also walk-in to our office to apply.