With close to 77,000 private hire cars in Singapore, the private hire industry has surged in popularity over the past few years. This number has more than doubled since 2015, with many private hire drivers driving on a full-time basis due to the level of flexibility it brings.
If you are new to the private hire industry, you may be considering either purchasing or renting a car. When you purchase a car, you would likely have to fork out a huge initial capital outlay typically associated with a downpayment of 10 – 50% of the car prices alongside COE premiums. An alternative way to circumvent such high upfront costs would be to rent from a PHV car rental company that allows you to pay the rental fees on a daily basis.
If you are feeling lost or daunted by the sheer number of cars available for rent in the market, fret not as the GrabRentals team is here to help you get started on your PHV car rental journey!
1. Minimum Requirements to rent a car
Before you rent a car for PHV from GrabRentals, make sure you fulfill the following requirements! You will need to be a Singapore Citizen or PR with a valid PDVL / TDVL license. You must also be at least 21 years of age, with a driver’s license of at least 1 year and less than 17 Drivers’ Improvement Points (also known as Demerit Points).
2. Steps to Rent a Car for Private Hire (PHV)
Car Models for Full-time Private Hire Drivers
Hyundai Kona, Toyota Prius, Honda Vezel
Assuming you are a full-time private hire driver, driving 8 hours a day, 6 days a week, fuel efficiency is a key factor you should take into account. Hybrid models such as Toyota Prius, Honda Vezel, or electric cars like Hyundai Kona are popular for their fuel efficiency and cost savings over the long term.
Full time drivers can also consider renting Hybrid MPVs, such as Toyota Prius Plus, Toyota Sienta and Honda Freed which allows you to accept trips with more than 4 passengers. The average fares of such trips are higher than the average 4-seater JustGrab and GrabCar rides.
Car Models for Part-time Private Hire Drivers
Mazda 3, Toyota Vios
Part-time private hire drivers can consider mileage petrol cars like Toyota Vios and Mazda 3, with lower rental rates. Mileage cars refer to used cars with a few years of mileage, and are a more affordable option for part-time PHV drivers to cover the daily cost of rental.
Part-time private hire drivers who are intending to use the car heavily for personal purposes or are less budget-constrained can opt-for brand new cars. While brand new car rental costs are higher as compared to mileage cars, you can choose to opt for longer-term contracts (6 months or 12 months) which will come with a higher completion bonus.
Booking your car
GrabRentals Website
If you are new to GrabRentals, you can visit our website here and select your desired car model, contract length, and additional add-ons. Simply pay the initial deposit as stated upon check-out, and you can collect your car as soon as the next working day!
For existing hirer-partners who wish to recontract, you can do so online directly by visiting this link here.
3. What’s included in your Car Rental
Some of the areas included in your rental package are free servicing & maintenance, fuel discounts, commission rebates and more! By being a GrabRentals hirer-partner, you will also automatically be enrolled in our GRNavigate loyalty programme where you can earn points in the form of “wheels” and redeem them for Grab driver credits or shopping vouchers.
- Servicing & Maintenance: If your vehicle needs to be grounded for more than 8 hours, GrabRentals will reimburse the rental charges based on the time your vehicle spends in the workshop
- Insurance: You can reduce further accident excess by up to 93% when you add on Collision Damage Waiver (CDW)
- GRNavigate: Auto-enrollment into GrabRental’s loyalty programme
- Fuel Discount: 29% upfront discount at Caltex stations islandwide and an additional 2% fuel discount when you add on GRBeyond
- Vehicle Damage Coverage (Scratches, dents etc) : Typically excluded, costs vary according to the extent of damages to the vehicle. Strongly recommended to add on Vehicle Damage Protection Schemeto cover car damages
- MC Rental Recovery, Health Care Coverage: Excluded, however you are strongly recommended to add on GRBeyond to get up to 6 days of rental recovery & premium healthcare coverage by Fullerton Health for you and your family
4. Book your car with us now!
We understand that the past year has been an uncertain and challenging period for drivers. As Singapore works towards a new normal with COVID-19, we expect demand for ride bookings to gradually increase. The GrabRentals team remains committed to providing you with quality rental support and being with you every step of the way.
If you would like to find out more, do visit our GrabRentals website here. If you would like to speak to our customer helpdesk, you can also book an appointment at our Grab Drivers Centre or chat with us on our Facebook page.
