Cars & Coffee

Since 2006, Evergreen Rent-a-car has been a favourite choice for expats looking to lease a car during their time living in Singapore. We caught up with managing director DANIEL ONG to ask him about the leasing market – and his other business interest: cafés and restaurants. From the launch of the business, Evergreen has worked with particular car brands. Which ones, and why?

We work closely with BMW, Toyota, Hyundai and Mazda. These are the top-selling cars in the market and in high demand.

What’s the most popular car brand among your customers?

Toyota! It produces strong and reliable cars with very good fuel efficiency, and it offers good customer service.

How has the leasing market changed in the past decade?

Singapore has the world’s most expensive car market. The biggest change in the industry has been the stabilisation of the price of the Certificate of Entitlement (COE) and bank interest rates.

Can you explain briefly how the fluctuating price of the COE affects leasing and buying?

For those who don’t know, the COE comprises a large part of the cost of buying a car; it is effectively buying the right to drive a car in Singapore. The price fluctuates according to market demand. This is paid in addition to the cost of the car itself. Fluctuations in the price of the COE have a significant effect on the motor vehicle market.

When the COE price increases, the demand for leased cars also rises. This is because people don’t want to spend so much money upfront; it’s really a difficult commitment. When you choose leasing, you can still afford to drive and use the car as if it’s your own. What’s more, you can return the car when the time is right – it’s convenient; you don’t have to sell the car. Also, the initial upfront payment is lower.

What’s your favourite car and why?

Affordability, performance and efficiency are three key things that are important for me. BMW is undoubtedly my favourite – it’s one of the best luxury automakers in the world. I’m currently driving a BMW X3.

We’re guessing you love two-wheeled vehicles almost as much as four-wheeled vehicles, judging by your launch of two bicycle-themed cafés, Wheeler’s Yard in Balestier and Wheeler’s Estate in Seletar. Tell us about the inspiration for them.

The cafés and restaurant were born from a desire to venture into a fresh and unique lifestyle concept with a nod to the new generation and its interests. In doing this, I’ve kept a few things that are important to me – like my passion for wheels, and my eye for quality.

#01-07 Amtech Building, 159 Sin Ming Road 6459 0990 | evergreenrentacar.com