How to convert car to Z10 for Private Hire Grab or Uber
Do you want to convert your personal car to LTA Z10 to drive for Grab / Uber?
Most Singapore car drivers can convert their personal cars to Z10 to drive for Grab, without the need to refinance or pay their car loans fully! We will show you steps by steps on how to convert to Z10.
Any private car driver in Singapore who has an outstanding loan falls under one of these two categories:
- You took up a car loan.
This means you borrowed money from a bank, Finance Company or Moneylender (most companies with the words “credit” or “capital” in their names are by definition, Legal Moneylenders)
This means that, on paper, you are the registered owner of the vehicle you are driving.
- You took up a hire-purchase loan.
This means a hire-purchase company owns the car you are driving until you clear your loan.
For the second case (hire-purchase loan), you cannot convert the vehicle you are driving UNLESS the hire-purchase company agrees to convert it.
For the first case (car loans by banks, finance companies etc), you can go ahead and convert your own vehicle on your own by going to http://onemotoring.com.sg LTA allowed conversion even if you have outstanding loans, and you can do it online by yourself! There is no need to register a business too as you can do it under your own personal name. The full DIY instructions and screenshots are given later in this article.
If you are unsure what kind of loan you took, please email us at firstname.lastname@example.org or whatsapp James from Timely Enterprise at 82003255 for an obligation-free consultation.
Car drivers with car loans – you can convert to Z10 on LTA website
Assuming you fall under the first case ie credit loan, you DO NOT need to refinance your vehicle to convert its classification to make it usable for Private Hire.
LTA has confirmed that cars with outstanding car loans can reclassify their cars to Z10.
However, you will need to get the correct kind of insurance (commonly known as “commercial insurance”) before you convert your vehicle online.
Commercial Insurance to drive for Grab / Uber
Here are some important things to know about such “commercial insurance” matters:
- You do not need to register your vehicle to a business entity. It can be under a personal name.
- However, if it is under a personal name, ONLY the policy holder is covered. It may be possible to add named drivers but the premium will most likely be affected. This is important to note for those who wish to share the vehicle with others to perform private-hire activities.
- Just like private car insurance, there is usually an accident excess involved. An “excess” is the amount of money the insured must pay out of their own pocket before the insurance company pays the rest of the claims on top of it. Eg. if your claim is $1000 and your accident excess is $500, you must pay $500 while the insurer pays the other $500.
- In relation to point 3, “commercial insurance” has a much higher excess than most private car insurance. Usually, the excess is also split into two sections:
- Section 1 means claiming for your own damages
- Section 2 means a third party(parties) claiming damages against you
The usual excess used by rental companies are around the range of $1,500 to $5,000 for both section 1 and 2 respectively. The excess is usually dependent on the make and model of the vehicle.
- The premiums for “commercial insurance” are also more expensive than the average private car insurance as the risks involved in private hire are higher, as well as claims experience being very high over the past few years for insurance companies that sell “commercial insurance”
To get a competitive quote for suitable car insurance, please whatsapp James from Timely Enterprise at 82003255 for an obligation-free consultation or email us at email@example.com
DIY Steps with screenshots on how to convert to Z10 / Z11
As promised earlier, here is a list of step by step instructions if you wish to convert your vehicle to Z10/Z11 classification on LTA website
Start Driving for Uber or Grab
You can find your own car at SGcarmart.com or when you have a car model in mind, you can contact Timely Enterprise for hire purchase, we will advise and help you the best way to be either Uber or Grab, earning the most income with the least costs. We will help you with the steps as we know all these can be frustrating and difficult. Not only that, due to our experience and scales, we are able to provide you with low cost solution! We profit only when you earn more!
Whatsapp or call James now at 82003255 to start your driving!